Nyra Deal Pours $26 Million Into Yonkers Raceway " Klein And Stewart-cousins Bring Bucks Home To District "

Jeffrey D. Klein

February 13, 2008

ALBANY-Today Senator Jeff Klein (D-Westchester/Bronx) and Senator Andrea Stewart-Cousins (D-Yonkers) voted to pass legislation to pour an additional $26 million into Yonkers Raceway. The funding constitutes the largest portion of a $70 million package of additional revenue for the eight tracks that have video-lottery terminals (VLTs), including Finger Lakes Racing and Gaming in OntarioCounty, Batavia Downs, and Tioga and Vernon.

“This is the boon we’ve been waiting for to bring the Raceway into the 21st century, and make it a regional entertainment destination. The deal will bring increased business into Yonkers and contribute to ongoing efforts to develop the city as the economic anchor of Westchester,” said Senator Jeff Klein, who represents the area around the racetrack.

Senator Andrea Stewart-Cousins added, “This is a big win for Yonkers .This long-term contract will  bring more business and revenue into Yonkers  resulting in increased and ongoing development and opportunity for the city.”

Yonkers will also be eligible for up to $2.5 million in annual grants to be used for capital project investments to improve the facilities of the vendor track. Funding can be used for projects including hotels, other lodging facilities, entertainment facilities, retail facilities, dining facilities, event arenas, parking garages and other improvements that enhance facility amenities. In addition, Yonkers
, Finger Lakes, Saratoga harness track and Monticello Raceway would also split a $10 million capital fund for facility improvements.

In addition, the Legislature voted to give the New York Racing Association a 25-year contract to run racing at three thoroughbred tracks: Aqueduct and Belmont in the New York City-area and at Saratoga, north of Albany.