The headline from the June 28 edition of The Legislative Gazette says it all: “Assembly and Senate pass bill to give Vernon Downs a five-year tax break, averts shutdown.” The article goes on to explain that the measure will save…
Highlights from a recent report by the New York State Comptroller’s Office: In October 2011, Resorts World New York City Casino (Resorts) opened adjacent to Aqueduct Racetrack. According to NYRA’s Franchise Agreement (Agreement), a percentage of Resorts’ Video Lottery Terminal…
From the Les Bois Park website: Dear Les Bois Park Fans, As you may be aware, we will be closing our Turf Club Bar & Grill and Simulcast Facility, effective end of day on Sunday, March 20th. After being granted…
Fact: If not for the corporate welfare it receives in the form of slots revenue, much of American racing would collapse. Particularly hard hit would be the harness end. Currently, there are 14 harness tracks in NY, Ohio, and Pennsylvania.…
Monday is one of America’s two lightest racing days, with only a handful of tracks live. Now with that as background, consider what happened yesterday: Three horses were ambulanced off at “The Downs Racetrack & Casino” (New Mexico); two at…
The Associated Press recently ran a story on racino subsidies (our previous posts on the subject) for the racing industry, explaining how these subsidies translate to corporate welfare for an inexorably declining industry. (This decline has two root causes: competition…
Horseracing, as presently practiced in America, is a dying industry. All the economic indicators bear this out: Number of races, racedates, starters per race, and, of course, total handle have been in steady decline for years. (The harness industry is…
The Paulick Report (11/7) says that Oaklawn Park has received a record number of stall applications for the upcoming meet (Jan 9th). The reason: a record amount of available purse money ($23 million). On the surface, all seems rosy in…
“The only reason it’s [Aqueduct Racetrack] in business is because of the casino.” (horseplayer “Harry the Horse,” Gothamist) Writer Max Rivlin-Nadler sets the scene on Aqueduct’s Opening Day (Oct 29th): “Aqueduct, with its wooden seats, tobacco-stained walls, and cavernous feel,…
What happens when the corporate welfare you’ve been receiving for some 20 years is no longer enough? We may be finding out in West Virginia where that state’s two Thoroughbred tracks, citing a lack of adequate purse money, are dropping…
