The Comptroller's Audit and tid bits

The Comptroller's Audit

Shock of shocks: the Comptroller has found that the VLTs are not increasing attendance of betting at the Harness Tracks.  It has always seemed to me that the purpose of giving the harness tracks the VLT parlors is to provide a subsidy to the equine industry in New York, which not only does not cost the taxpayers anything but also provides significant revenue to the State itself.

Furthermore, New York needed the cover of helping the harness tracks to sell the idea.

As strange as it may sound, twelve years ago the public and the State elected leaders had a hard time envisioning legalized gaming in New York.  In order to make it happen, the State needed a cover that the people could accept.  There was already betting at the tracks and if we do not let them have it, our horse industry will die.  All true.  But it also let the camels nose in under the tent and now we are discussing seven full blown casinos in the State of New York.

But I will tell you where this all came from.  If the Supreme Court and Congress had not authorized Indian casinos, we would not be having this discussion at all.

I have been fairly certain since 1993, when Turning Stone opened, that it would only be a matter of time before the State authorized casinos.  Simply put, the non-Indian community was not going to sit by and allow the Native Americans to have a monopoly on Gaming in the State of New York.

The New York State Comptroller has issued a report concluding that the use of video slots to reverse horse racing's declining popularity does not appear to be helping the tracks, a new audit suggests.

 Audit findings by Comptroller Thomas DiNapoli, and an accompanying evaluation from outgoing Division of the Lottery Director Gordon Medenica, said that despite the advent of video lottery terminals, handle and attendance at horse races are not rebounding at racino facilities. Lawmakers legalized VLTs in 2001, authorizing them only at tracks.

 But on-track betting totals have continued to drop, DiNapoli's audit said. "In fact, total handle on live racing in New York decreased from $53 million in 2004 to $46 million in 2010, a decrease of 13 percent."

http://www.timesunion.com/local/article/Tracks-get-no-VLT-boost-3788655.php#ixzz23onUXcRb

Waiting on NYRA

We are all waiting with baited breath to see who gets appointed to the New NYRA Board.  It can't be too political, it can't all be people in the business.  It needs new outside people, it needs politicals and it needs equine industry people.

Just so you all know, I have not received a call from the Governor yet.

Assembly Racing Committee Chairman J. Gary Pretlow, D-Yonkers, said that he and Speaker Sheldon Silver will meet Wednesday to discuss Assembly picks for the new NYRA Reorganization Board that Gov. Andrew Cuomo is expected to announce by Oct. 1.

Cuomo will name eight people including a chairman to the board. The search is also on for a new chief executive officer and published, but unconfirmed reports, have said McClain — NYRA’s president and chief operating officer — will be replaced, too.

http://saratogian.com/articles/2012/08/14/news/doc502a888e8e032413280963.txt

The Numbers at Saratoga

The New York Racing Association Inc., which operates the Saratoga Springs track, says about 465,000 people have attended 22 days of races so far this summer. That crowd is 2 percent smaller than the 474,000 present through this point in the 2011 meet.

Bets placed at the track totaled $66.1 million, down $500,000 to date, or 0.8 percent to date.

http://www.bizjournals.com/albany/news/2012/08/14/nyra-saratoga-meet-update.html