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![]() Some preliminary views of my own follow.
First, moving to Belmont splits the horse racing/casino discussion as Aqueduct becomes a casino only site and Belmont becomes a destination. How do you think that advertising battle will go? Subsidies from the casino activity to NYRA will be immediately questioned. Turning Yonkers into a full-fledged casino pushes MGM one step closer to dropping racing to free up their land for other uses. Second, if the casino subsidy is lost which is the next logical step, why does New York continue to offer winter racing at all? In other words, doesn't New York revert to an eight month season (three at Belmont, spring and fall each, and two at Saratoga)? While Gulfstream might be a winner here, what happens to mid- and bottom-tier horses? Can you imagine that Pennsylvania might actually gain from such a decision in New York? Third, what happens about stabling at Aqueduct? If that moves to Belmont by necessity, a major infrastructure investment will be needed. Fourth, the reminder that NYRA does not own the land and is a tenant forms a sobering reminder that despite the strong gains made by the Saratoga Live, Belmont Live, and NYRA Bets platforms, there is a fundamental and structural threat that exists : land ownership. |