TCBets.com Makes Offer for NYRA

27 Oct 2005

NEW YORK – (PRESS RELEASE0 -- Charlie Haywood, the President of NYRA, has said that his organization will run out of cash by the end of November. Last year the New York Racing Association lost over $15 million last year and $22 million in 2003. TCBets.com, the largest racebook in the world, is offering $250 million for the right to run racing in New York State.

David Banks, CEO, explains, "It is inconceivable that NYRA has lost money for the last couple of years. The situation is so desperate that NYRA is considering selling some of its paintings that it received as gifts from horse owners." Banks feels that the time has come for the NYRA to step aside and give the franchise to TCBets.com. "It is a shame what has happened to horse racing in New York over the past year. There have been race fix allegations, indictments of key personnel, no bid contracts, and more. Even the waiters have been accused of shaking down restaurant patrons."

New York Senate Majority Leader Joseph Bruno is calling for a new franchisee within six months. Banks feels that TCBets.com should be awarded the franchise.

"We have $250 million in place to make this deal happen. Racing in New York would immediately get better. Changes would be made regarding wagering. TCBets.com has the management to provide the racetrack patron with a much more positive experience than he is currently receiving. Slots would be in place at Aqueduct within sixty days. Concessions would improve. We look forward to working with New York City Councilman Tony Avella who is interested in bringing sports betting to New York."

Banks said that the timing of this offer was meant to coincide with the Breeders' Cup, which will be held at Belmont Park on Saturday October 29th. If horse racing fans are interested in opening an account with TCBets.com to play the Breeders' Cup, they are offering new customers $125 free to try their horse wagering service. Mr. Banks finished by saying, "The eyes of the world are on Belmont. Let's hope that the Breeders' Cup isn't tainted by the current NYRA scandals."

 
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