UPDATE: State meets obligation to NYRA; Legislature OK's advance

[SOREHOOF]

This is insane. Our politicians are fighting over who gets what piece of the big fat VLT pie. Meanwhile the pie is getting cold, it's been sitting around for years, the govt. wants to keep NYCOTB going, in all of it's wasteful and incompetent glory, while they let the cash cow starve to death. No slots. No money. But they still fight over who's gonna get the money. The cow might starve before anything gets done.

[mark2061mn]

http://www.bloodhorse.com/horse-raci...m_medium=email

Paterson says he expects the Legislature to approve a $17 million loan to keep the New York Racing Association afloat. Its cash flow is hurt by delays in getting video lottery terminals built and operating at Aqueduct.

[pointman]

Paterson to push for $17M loan for NYRA
By Matt Hegarty

New York Gov. David Paterson said on Tuesday that his office would push for passage of legislation that would loan the New York Racing Association $17 million to address the association's financial difficulties. Paterson made the comment during a press conference on Tuesday after being asked if NYRA would run out of money prior to the opening of its meet at Saratoga Race Course in Saratoga Springs on July 24.

"That's not going to happen," Paterson said. "We have a plan to loan NYRA, in the short term, money to get through Saratoga and we're working on a long-term plan to help beyond that."

NYRA officials did not immediately return phone calls on Tuesday afternoon, but on Monday, Charles Hayward, the president of the association, said that he was scheduled to meet with officials in Paterson's office on proposals for the loan. During the press conference, Paterson said he expected the legislature to approve a $17 million loan to the association, but he did not provide specifics on how the loan would be structured. NYRA has been seeking that amount under previous legislative efforts that have fallen short, in part because of legal complications that restrict how the state can loan money.

[hoovesupsideyourhead]

monmouth will be crazy..if this does happen

[pointman]

I have been wondering why the NY Post has not been more accurate with the NYRA situation considering they have Ed Fountaine on staff. After reading this, it appears that if Fountaine has spoken to the editors and/or reporters it has fallen on deaf ears. Here is Fountaine's take in todays NY Post:

http://www.nypost.com/p/sports/horse...mlliEOAIrUsF8H

[pgiaco]

Originally Posted by pointman

I have been wondering why the NY Post has not been more accurate with the NYRA situation considering they have Ed Fountaine on staff. After reading this, it appears that if Fountaine has spoken to the editors and/or reporters it has fallen on deaf ears. Here is Fountaine's take in todays NY Post:

http://www.nypost.com/p/sports/horse...mlliEOAIrUsF8H

A breath of fresh air after all the bullshiat coming from the NY papers.

[pmacdaddy]

http://www.nyra.com/belmont/stories/May212010.shtml