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#1
11-01-2007, 10:49 AM
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Hank Sheinkopf, of Capital Play, a true NYRA fan
From Bloodhorse
Australian-based Capital Play, which is considering a merger with what's left of Empire Racing Associates to try to win the NYRA franchise, jumped on the tax dispute. "Racing is supposed to generate money for education. Instead, NYRA is bankrupt and the IRS is seeking $1.6 billion from them. NYRA's era of mismanagement must be ended,'' Hank Sheinkopf, a Capital Play spokesman, said in a statement Oct. 31. 
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#3
11-01-2007, 11:05 AM
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The IRS claim is probably high by a factor of 10x-100x to any tax liability. That's how the IRS plays. I don't know if IRS claims against organizations like NYRA are public information. Not a nice move but so what?
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#5
11-01-2007, 12:26 PM
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DRF exerpts:
"Reporters were alerted to the matter by representatives of Capital Play, which is challenging NYRA for the franchise rights to run Aqueduct, Belmont, and Saratoga racetracks." "The IRS has several claims, including that NYRA should have reported the gross handle—the money bet on and off-track on its races—and not the takeout, which is NYRA's portion of the handle." That's absurd. Does the IRS not have a clue? Beth Coney eaconey.dvm@juno.com
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"Have the clean racing people run any ads explaining that giving a horse a Starbucks and a chocolate poppyseed muffin for breakfast would likely result in a ten year suspension for the trainer?" - Dr. Andrew Roberts
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#7
11-01-2007, 01:00 PM
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Don't be fooled by who Hank Sheinkopf is.. He's not part of Capital Play exactly... he's a 'spokesman'... In reality, he's a famed political strategist/consultant/lobbyist/hired gun. And interestingly, former Spitzer campaign engineer in his 1998 Attorney General win.
__________________
All ambitions are lawful except those which climb upward on the miseries or credulities of mankind. ~ Joseph Conrad A long habit of not thinking a thing wrong, gives it a superficial appearance of being right. ~ Thomas Paine Don't let anyone tell you that your dreams can't come true. They are only afraid that theirs won't and yours will. ~ Robert Evans The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. ~ George Orwell, 1984.
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#8
11-01-2007, 01:16 PM
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Tbred times is expanding their analysis to surmise that the IRS is redefining taxation of the entire thoroughbred and gaming industry.
http://www.thoroughbredtimes.com/nat...s-on-NYRA.aspx Last edited by sumitas : 11-01-2007 at 01:30 PM.
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#9
11-01-2007, 01:28 PM
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#10
11-01-2007, 01:35 PM
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Hank Shank Off?
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#11
11-01-2007, 06:03 PM
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Linear Mode
