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Originally Posted by Antitrust32
I dont know if you understand this, but the state taxes the total handle. Something like 3% of All the handle that NYRA see's goes to the state. That is a HUGE amount of money.
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So you are saying without NYRA horse racing is leaving NY? NYRA doesn't run a for profit and get taxed. They are a non-profit and they can't even break even.
Just to let you know, there is a parimutuel tax, and it isn't 3% of pools. In fact it contributes some ridiculously low amount of like $10 million to the state. In fact if you read any reports,
state pari-mutuel tax revenues fell almost in half, from $18.6 million in 1997 to $9.9 million in 2001. I will try to find how little they contributed this year.