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Thursday, August 29, 2013

Racing Once Again Put On Notice

It has been reported that NYRA may close Aqueduct because it loses money on its racing operations.  While NYRA says thre are no 'imminent' plans to close the track, the NYRA Reorganization Committee is looking at all options and closing Aqueduct is one option.  One quote which came up in this discussion made mention that Aqueduct's racing product must at least break even on its own, not with the help of slots.

Why should racing take note of this possibility?  The NYRA franchise is currently run by the state.  With the state operating the track and getting the slot profits, they are not keen to subsidize racing with casino revenue.  Racing at Belmont and Saratoga show profits. 

Right now, the state has no problem with the casino end of the business supporting racing,  for private entities.  How long do you think it will be if Aqueduct is closed due to racing not being profitable while the state owns it before the privately owned racinos finally get the state to understand if the state is not willing to subsidize racing with their slot profits, why should private racinos be expected to do so?  Sooner or later, the private tracks may get their wishes to show racing out the door or require horsemen to lease the tracks and operate their own meets there.

Just something to ponder.


1 comment:

Anonymous said...

Close the dump split the few meaningful graded stakes up with Belmont and the spa!!!! If needed let Monmouth park in to help out!!!!!