The board that oversees the state of New York's Thoroughbred racetracks is urging the New York Racing Association to take steps to boost revenue beyond video lottery terminals in order to remain financially healthy.
The Franchise Oversight Board, in an extensive examination of Belmont Park, Saratoga Race Course, and Aqueduct, presented its view of the state of the sport, outlined financial improvements due to video lottery terminals (VLTs), and called for efforts to reinvigorate racing.
While the board agreed that VLTs do provide a way of supplementing income, it indicated that racing itself must be operated in a way that is profitable. “NYRA must establish a long-term financial goal to end its reliance on VLT subsidies and immediately develop plans on how it will meet this goal.”
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