Two new candidates bid for State’s racetracks

Just when it seemed that a decision over control of the state’s thoroughbred racing franchise might be nearing the home stretch, Governor Eliot Spitzer announced on Wednesday, March 7 that six proposals from potential operators of New York’s racing facilities - including those of two new candidates - will be reviewed in the coming weeks.
The announcement came one week after Spitzer made it known that he would convene a new panel chaired by Richard Rifkin, Special Counsel to the Governor, to evaluate proposals from potential operators. The panel will meet in public sessions and include experts from the State Racing and Wagering Board, Empire State Development Corporation and the Division of Budget. The Assembly and Senate will also participate in the sessions.
“New York’s thoroughbred racing industry commands an international reputation, creates tens of thousands of jobs and provides a vital economic boost to the state,” Spitzer said in a statement announcing the new panel. “For the first time in nearly 50 years, there is an opportunity to reexamine this important state resource, and to consider restructuring and reinvigorating thoroughbred racing and breeding.”
Spitzer, a Democrat, formed the panel just after the Ad-Hoc Committee on the Future of Racing created by his predecessor, Republican Governor George Pataki, released its final report that made a non-binding recommendation that Excelsior Racing Associates, LLC assume control of the franchise when it expires at the end of this year.
The committee chose Excelsior over Empire Racing Associates, LLC and the New York Racing Association Inc. (NYRA). A fourth bidder, Capital Play, also sought consideration from the committee but was not among the final contenders.
NYRA, which has owned and operated the state’s three largest racetracks: Aqueduct, Belmont Park and Saratoga, since 1955, has been plagued by financial and management woes in recent years and filed for Chapter 11 bankruptcy protection in federal court last November.
Two additional operators, Catskill Regional Off-Track Betting and Thoroughbred Racing – NY joined the original four in accepting Spitzer’s invitation to submit proposals for review by the new panel.
“The fact that additional companies have come forward demonstrates the great appeal and potential of thoroughbred racing in New York,” Spitzer said in a statement. “I am eager for the panel to begin its deliberations and make a recommendation.”