Issues: Racing

Racing, Gaming, Wagering Committee Meeting; January 20, 2010

Racing, Gaming and WageringMet: January 20, 2010Original Meeting time 10AM- Postponed and met at 2:30PMLocation: Capitol 123

No NominationsNo Resolutions

Speakers: John Sabini, Chairman, NYS Racing and Wagering Board

Bills:

January 20, 2010
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January 19, 10:00 AM - 11:00 AM
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Public Hearing: Joint Hearing on NYRA's Finances and viability of thoroughbred racing in New York State

 

In 2008, New York State provided the New York Racing Association (NYRA)

nearly $105 million in funding and forgave nearly $100 million in outstanding debt to enable the

association to emerge from bankruptcy and continue racing operations. After stating in mid-

2009 that it was financially stable, NYRA announced in December that unless a Video Lottery

Terminal (VLT) operator were selected shortly, the association would become insolvent. This

hearing will determine the accuracy of NYRAs declaration and investigate the basis for

February 3, 11:00 AM - 5:00 PM
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Senator Adams Co-presides at Joint Senate-Assembly Hearing on the Future of NYC Off-Track Betting Corporation

PRESS ADVISORY

SENATOR ERIC ADAMS, CHAIR OF THE NYS SENATE COMMITTEE ON RACING, GAMING AND WAGERING, WILL CO-PRESIDE AT A JOINT SENATE-ASSEMBLY PUBLIC HEARING ON THE FUTURE OF NYC OFF-TRACK BETTING CORPORATION

NYS Senator Eric Adams, Chair of the Senate Committee on Racing, Gaming and Wagering, will co-preside at a public hearing to probe issues surrounding the bankruptcy of NYC OTB  

January 7, 2010
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Senator Johnson Urges Belmont Summit

Senator Craig M. Johnson wrote the following letter to the Governor, seeking a summit with state officials, community leaders and representatives from the Shinnecock Indian Nation to discuss potential development at the Belmont Park Race Track. 

December 19, 2009
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Senator Adams' statement regarding the NYC OTB filing for Chapter 9 bankruptcy

Statement of NYS Senator Eric Adams

New York City Off Track Betting Corporation has been running an unsustainable financial deficit, and it has filed for Chapter 9 bankruptcy as a necessary step towards its continuance as a viable entity.  As Chairman of the NYS Senate Committee on Racing, Gaming and Wagering, I endorse the petition as the best available alternative to a cessation of NYC OTB operations. 

December 3, 2009
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Senator Adams Remarks on Governor Paterson’s Executive Order to Allow NYC OTB to File for Bankruptcy

Senator Adams remarks on Governor Paterson’s Executive Order to allow NYC OTB to file for bankruptcy:

“During the almost forty-year history of New York State off-track betting, New York City has become the leading betting region in the state, with a handle closing in on $1 billion. As elements in a public benefit corporation, regional OTB locations, including those in New York City, provide both state and local government with millions of dollars in revenue to help mitigate the cost of essential projects.

September 1, 2009
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Senator Adams opens a public hearing on "The Future of NYC OTB" on August 25, 2009

NYS Senator Eric Adams, Chair of the Committee on Racing, Gaming and Wagering, holds a public hearing entitled “The Future of New York City OTB.”  The hearing examined the circumstances that have led to the current financial crisis at NYC OTB and initiate a dialogue on processes that can repair the corporation and get it back “on track.”

August 28, 2009
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NYS Senator Eric Adams, Chair of the Committee on Racing, Gaming and Wagering, will hold a public hearing entitled “The Future of New York City OTB”

PRESS ADVISORY

NYS SENATOR ERIC ADAMS, CHAIR OF RACING, GAMING AND WAGERING COMMITTEE, WILL HOLD A PUBLIC HEARING ON THE FINANCIAL CRISIS AT NEW YORK CITY OTB TO DETERMINE THE CORPORATION’S STATUS AND FUTURE

August 24, 2009
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Racing, Gaming and Wagering

Related information

March 13, 2009
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Senator Craig Johnson on NYRA

Senator Craig Johnson on NYRA

June 24, 2008
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