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Friday, November 10, 2006

Notes - Nov 10

- After a year and a half absence that was originally to be a few months, racing will resume at Yonkers Raceway on November 17, pending the facility passing a re-inspection of fire code violations. The racino there is already pumping out the most money of any in the state.

At the upstate harness track Vernon Downs, the new racino there netted $1 million after its first week of operation; ranking it 4th of the 8 existing racinos in terms of take per machine. But horseman there are not yet seeing any money. Under the contract with the track owner, American Racing & Entertainment, the first $250,000 of video gambling money earmarked for horsemen will be given back to the company. [Syracuse Post-Standard, via Albany Law School Racing and Wagering Page.]

The Albany Times-Union reports that the state will ask U.S. Bankruptcy Court to throw out NYRA's Chapter 11 claim. The state loaned NYRA $8 million to get them through the rest of the year. None of this would have been necessary if the state would simply approve the Aqueduct casino. Bill Nader pointed out to the NY Post: "Opening day [of the long-delayed casino at Aqueduct] was supposed to be Dec. 1, 2006, three weeks away."

Charles Hayward told a meeting of creditors that NY's OTB owes the association $10.5 million, and reiterated his claim that NYRA owns the land, an issue on which the state still seems to be trying to avoid a ruling by a bankruptcy court.