New York Franchise Oversight Board

Belmont: Request For Development Proposals Approved By New York Franchise Oversight Board

An official request for proposals is expected to be issued in the coming days, but the New York Franchise Oversight Board has given its approval to release the RFP for development of up to 43 acres of Belmont Park, according to bloodhorse.com. Specifically, the areas in question include a 28-acre overflow parking lot and an eight-acre […]

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Report: New York Budget Deal Includes NYRA Re-Privatization Plan

New York Gov. Andrew Cuomo and lawmakers reached a sweeping budget deal on Friday that includes details for the New York Racing Association to be re-privatized after being under state control since 2012, according to a Bloodhorse.com report by Tom Precious. Timeline for the transfer to a private board isn’t clear under the terms of […]

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Saratoga: Franchise Oversight Board Approves 10-Year Renovation Plan

During a meeting held Tuesday, the New York Racing Franchise Oversight Board approved NYRA’s long-term plans for renovations at Saratoga. According to a report in the Daily Racing Form, the board unanimously approved the plan, entitled “Final Generic Environmental Impact Statement.” The plan, which was originally presented as a draft to the board in 2015, lays out […]

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‘Something Of A Surprise’: NYTHA Members Evenly Divided On Synthetic Track For Aqueduct

An online survey of New York Thoroughbred Horsemen’s Association members was almost evenly divided on whether or not the New York Racing Association should install a synthetic racing surface at Aqueduct. NYRA CEO Chris Kay raised the issue earlier this month at a meeting of the New York Racing Franchise Oversight Board, saying his organization was […]

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Hearing Scheduled To Discuss Saratoga Upgrades

According to the Albany Business Review, New York’s Franchise Oversight Board, which oversees the New York Racing Association, will hold a public hearing at 6 p.m. Thursday in the Saratoga Springs City Center to discuss multi-million dollar plans to upgrade Saratoga Race Course’s hospitality and seating options. The construction of a three-story hospitality building that […]

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Report: Franchise Oversight Board Questions NYRA CEO’s Bonus Criteria

The New York Racing Association’s Franchise Oversight Board met Sept. 15 to discuss performance standards of the organization. The Franchise Oversight Board was created to monitor NYRA’s finances before the state took control of the racing organization. Although the agency approved a report that gave NYRA a ‘passing grade’ on meeting its performance standards, it […]

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NY Inspector General: 2011 NYRA Takeout Fiasco an ‘Inexcusable Subversion of Public Trust’

After a lengthy investigation that spanned over two years, New York’s Inspector General, Catherine Leahy Scott, has concluded her investigation into the New York Racing Association and several of its current and former officers regarding the period in 2011 when NYRA improperly overcharged bettors. The Times-Union reports that the inspector general found that the $7.4 […]

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NY Board: We’ve got some land we’d like to sell you

New York State officials are in the process of trying to sell two parcels of land at Belmont Park, according to an article at the Blood-Horse.  In a meeting held Aug. 30, the New York Franchise Oversight Board made the decision to sell the two parcels, which totals 36 acres. Both sections are parking lots […]

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NYTB’s Cannizzo: New York racing does not exist in isolation

The following letter was written by Jeffrey A. Cannizzo, Exec. Director of the NY Thoroughbred Breeders, Inc. It originally appeared in the August issue of NY Breeder magazine. Following the release in July of the New York State Franchise Oversight Board’s 2011 annual report, I began to read that members of the Board were expressing […]

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Franchise Oversight Board tells NYRA to look beyond VLTs for revenue

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 […]

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