New York's Three-Legged Stool Has Collapsed - By Dick Downey

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

Phil — Sun, 01 Aug 2010 21:08:29 GMT

The Final Turn article by Dick Downey in the July 17th issue was excellent;I completely concur. When are people going to wake up, how could anyone with common sense finance either NYRA or NYCOTB;they both belong in the comic strips.How can you hire someone for 100M a month to tell you what you are doing wrong, how sad. Politics and racing do not mix and unless the tracks are privatised, sadly they will close because they will have to. I would have thought the people of New York would have had enough, they are paying the bill.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

Railbird — Tue, 20 Jul 2010 15:20:26 GMT

It will be interesting to see how racing fans respond to this years watered down, extended Saratoga meet. For me, it will be a long ride to bet Monmouth.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

mike — Sun, 18 Jul 2010 13:04:52 GMT

All NYRA plants on here:

1. Charlie Hayward does not have sufficient business accumen to be CEO of anything.

2.Present NYRA managemnet and board need to be terminated in favor of individuals that have bold ideas and G-A-M-B-L-I-N-G expertise, which the game is about DUH!

3.The State must stay out of racing as much a s possible.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

markinsac — Sat, 17 Jul 2010 13:28:56 GMT

To the guy who said, "Raise the takeout, bettors will always bet on NY races" You obviously don't realize that it's the takeout that is killing this game. With modern technology, gambling is competitive as ever. You don't have to go to Vegas or Atlantic City to play what they offer. Now honestly, if they had a match race and half the money was bet on horse #1 and half on horse #2, you could say the race was a coin flip. The true odds would be $1.00 to $1.00. But what would the track pay you? .60 to the $1.00. 40 PERCENT OF YOUR PROFITS WOULD BE ABSORBED BY TAKEOUT! I can bet any track in the country through youbet, if NY tracks raise the takeout, i'll bet more on monmouth instead and close my Belmont racing form for good.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

RTF — Fri, 16 Jul 2010 21:37:40 GMT

Same 'ol same ol @ NYRA. The "NOT" for profit organization. Racing in NY needs fresh blood. I find NYS to be as much at fault as NYRA itself. With many documented cases of fraud, tax evasion, and misappropriation of funds..How in gods name did the state give the franchise back? It's summer..and that means it is past due for spring cleaning!!

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

Paul — Wed, 14 Jul 2010 20:56:29 GMT

The State of New York has no interest in horse racing. It has made that perfectly clear. Let the workers in the industry, the trainers and owners and horses etc go somewhere that considers the sport a valuable asset and supports and promotes it accordingly. There's no "magic" to Saratoga under the presently existing regime. Send everyone to Churchill Downs and run there all year. Or better yet, replace the fake at Keeneland with dirt and run there all year.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

Bill — Wed, 14 Jul 2010 14:45:30 GMT

Downey hits it right on the head. There is a ton of blame to go around. It is time for a new way of doing business. But in New York that just might not be possible.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

Chris — Wed, 14 Jul 2010 14:28:39 GMT

Everyone in NY is at the mercy of State Government. This same story can be said about every racing jurisdiction for that matter. Because Government regulates our industry and deciphers how we are structured, our race dates, how agencies are employed, therefore we answer only to them. The irony, we put them in Government.

This common misconception about NYCOTB, is entertaining. Why is it that the media cannot see past the paper they write on? Rayburn is a 4 month man as CEO for NYCOTB. Why? Because he was put in place to clean up the corruption. Hence his "monthly" contract. Actually as Bill Finley pointed out, this is the best move NYCOTB has made, thankfully via Larry Schwartz the new Chairman. NYCOTB paid $2M in the last year for reorganization consultants, let me ask what we have to show for it? Nothing.

Because NYCOTB is stiffing the industry on out of state handle, they are essentially breaking NYRA and the horsemen/breeders. This will end soon, because it has too. Government now knows they cannot afford to keep it going.

In terms of VLTs, it’s anyone's guess, yet again, Government in NY has never needed revenue like they need it now. So in reality the tides have turned in NYS, because the Government which controls racing, needs it more than we need them. I for one am optimistic NY's industry has more hope than any other jurisdictional at this point. 2011 may look very different.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

Dick Downey — Wed, 14 Jul 2010 14:15:51 GMT

The essay calls for a "well-run, publicly-listed business" to buy the tracks. I do not consider Magna to be a well-run company--after all, it also filed Chapter 11 bankruptcy. But there are profitable companies in the racing and casino business.

The NYCOTB bankruptcy denied NYRA $17 million in revenue, but NYRA asked for and received $25 million from the state of New York to stay in operation. Question: Why was the extra $8 million needed, and if that sum was designed as a money cushion, how long will it last?

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

Anne — Wed, 14 Jul 2010 11:31:25 GMT

As a western NY state resident, and breeder vested in the NY Breeders Fund, I am DISGUSTED and OUTRAGED.

Not only am I supporting this joke government thru my exorbitant taxes on property and wages. Now, the NYS Breeders Fund cannot pay the full amount owed breeders and owners as they have not received NYC OTB's money owed them.

The straw that broke the horses (camels) back?

NYC OTB, Bankrupt, hiring someone at OVER A MILLION DOLLARS A YEAR!!!!!!

New York state stinks, We are waiting for my opportunity to leave this suck hole behind! Soon!!

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

jimf — Wed, 14 Jul 2010 09:28:38 GMT

Charlie Hayward is the smartest racing person in the business, bar none!!!

Charlie understands there is a horse shortage and knows the industry needs to coordinate stakes races and begin to down size.

VLT's on the horizon and the failed Monmouth experiment will raise NYRA back to the top by default.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

goodwin — Wed, 14 Jul 2010 03:34:41 GMT

Oh, yea...and Magna has done such a great job in a state without slots, haven't they?

We don't buy the "government is bad" bandwagon

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

C. G. Dean — Tue, 13 Jul 2010 22:03:36 GMT

Raising takeout and distribution prices is the only solution to NYRA's financial woes. Bettors will always bet on NY racing no matter what the price is. It's a circuit that people grew up betting and will keep betting. They should hurry up and make these changes for Saratoga as that will show them it will have no effect on handle and will raise revenues astronomically.

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

Alan — Tue, 13 Jul 2010 21:05:53 GMT

Sigh......you people just don't get it, do you? NYRA is as qualified as any company - private, public, or run by God - to run these tracks. There's not an entity in the world that can make this work with OTB structured the way it is in this state if there are no slots subsidies. How is NYRA responsible for that? Seriously...have you made any effort whatsoever to research the background of this situation?

re: New York's Three-Legged Stool Has Collapsed - By Dick Downey

MOKEY — Tue, 13 Jul 2010 19:18:10 GMT

I agree if NYRA can't make money with the Saratoga Track especially - they can't run racetracks. I'm not sure why NY is letting them run everything to the ground.