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#1
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![]() As a result of the 2008 franchise process, NYRA is now a not-for-profit corporation instead of a quasi-state entity. Knowing that in Albany there will inevitably be some price to pay (i.e., lower long-term OTB payments to the racing industry) for the "loan" that NYRA is now seeking, why is NYRA even dealing with the legislature for these funds?
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#2
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#3
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![]() Assuming they go cash-flow positive once Saratoga starts, we're only talking about a relatively brief period of time (and modest amount of $$) to get to July 23. And the amount we're talking about is chump change for the people sitting on the NYRA Board of Trustees.
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#4
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#5
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As for the Board, it would quite possibly be illegal for Board members to inject that kind of cash into a non-profit and like pmac said a terrible presendent wuld be set. It would be used as "proof" that NYRA is just a bunch of rich guys looking for a state "bailout". |
#6
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#7
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#8
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![]() But what do the members of the NYRA Board of Trustees see the mission as being? I doubt Phipps sees the mission of NYRA to create revenue for the state.
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#9
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NYRA isn't 'seeking' this funding out of some surprise shortfall they didn't anticipate. This was going to happen if the VLT's weren't in place... EVERYONE knew that. If the mainstream media had a clue and reported the story accurately, no one would question why the transaction is necessary.
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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. |
#10
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#11
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Come on first NYRA is getting money and the horrendous publicity they continue to spew is madding.. HI fans and gamblers we are going out of business after are biggest purse day of the year and if you want to deposit money in your NYRA account please dail 1800 BIG AVLT. How the heck do you run a business promoting its life and joy in one breathe and telling your fans and customers its dying on the other. Why are the publizing all this negative stuff with such vigor? I really hope NYRA gets to operate and be successful!! This stuff just is foolish |
#12
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#13
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![]() The thought that NYRA is any different than other sadly underfunded and ignored State obligations is flawed.. I want NYRA to succeed I dont want them to fail. I want great racing in NY but that isnt the point. I understand your points and agree NYRA is in a bad place. You still need to be able to run a product on its on merits and not on the possiblity of VLT's.
BTW I find it interesting that 2 of the most successful african american businessmen in the world are 2 of the 5 potential bidders. You think it is going to be easy for any of these potential bidders to get 400 mil to the State in a snap. What happens if the ecnomy takes another shiit in 9 months and the process continues to be delayed.. NYRA just keeps on coming to the State? |
#14
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Despite the evidence to the contrary you and many others refuse to see that VLT's ARE are a piece of it's "merits". The state passed a law in 2001 allowing specific business to have these things. NYRA is one of those businesses. It's competition (both in state and out of state) has VLT's. That makes it a valid issue. And you cant just ignore the fact that NYCOTB refuses to pay. That is a significant amount of money to lose. |
#15
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BTW NYRA didnt give the government a PENNY gamblers did all NYRA did was oversee the transfer from pocket A to pocket B... Giving them a bunch of credit for there horrible operations 9 years ago is invalid.. The current guys have been ok but lets not forget just how sorted NYRA PAST is! |
#16
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As for your other point, I haven't heard Yonkers or Saratoga harness asking for any money from the State and they make a fraction of what NYRA does off of betting pools. I seriously doubt that NYRA will need anything from the State once the casino is running, it is hard to believe that a casino will fail in Ozone Park, New York. |
#17
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