Governor recommends NYRA for contract

NEW YORK -- As reported by Business First: "New York Gov. Eliot Spitzer has recommended that the New York Racing Association be awarded a 30-year contract to operate Aqueduct, Belmont Park and Saratoga racetracks.

"...The NYRA, which has held New York's racing franchise since 1955, has been weakened in recent years by bankruptcy, a series of criminal investigations and negative government reports on its operations.

"In a news release, Spitzer said terms of the new contract require the organization to be restructured, downsizing from 28 members to 19, and including representatives appointed by the governor, legislative leaders and Thoroughbred breeding groups. The contract also specifies appropriate uses for revenue from Aqueduct's video slot machines, including improving racing facilities and increasing purses..."