NYRA Lost Over $21 Million
17 Dec 2003
NEW YORK – As reported by the Thoroughbred Times: "New York Racing Association lost $21.7-million during 2002, according to an audited statement released under an agreement with the United States attorney's office, which indicted NYRA on charges of tax fraud on Thursday.
"…The statement included two blacked out sections, which would `create the likelihood of substantial harm to the competitive position of NYRA in the area of pari-mutuel wagering,' Sheila Osterhout, secretary to the New York State Racing and Wagering Board, stated in a letter."