Home -> Law Blog Directory -> Media & Entertainment Law Blogs -> Sports Biz

Media & Entertainment Law

: Sports Biz

NYRA Gets Bailout from New York State

I'm a bit late in reporting but there's good news for those of you who like to summer in Saratoga.  On Monday, New York Governor David Patterson signed a bill authorizing a $25 million loan to the New York Racing Association allowing NYRA to operate meets at Belmont, Saratoga and Aqueduct.  Had it not received the loan, NYRA would have followed through with the notice it had sent to its 1400 employees that it planned to shut down the tracks following the running of the Belmont Stakes on June 5.  NYRA's problems stem from the inability to get approved slot machines and video lottery terminals installed and operating at Aqueduct in a timely manner.  Racing has been insufficient to actually fund NYRA's operations several years now.

Full post as published by Sports Biz on May 27, 2010 (boomark / email).