(Links to full articles included)
Long Odds - City and State
“The state’s smallest racino cites taxpayer profits in argument for expansion
In the looming fight for legalized casino gambling, the state’s littlest racetrack casino has the longest odds.
Batavia Downs Casino, located 41 miles outside of Buffalo, is the state’s smallest racetrack casino, a fact that could hamper its chances of operating a full-fledged casino in the future.
But Batavia’s operators are arguing that as the state’s only taxpayer-owned racino, it ought to get special consideration for one of the seven spots.
Western Regional Off-Track Betting, which operates Batavia Downs, is owned by 15 counties in western New York, as well as the cities of Rochester and Buffalo. Each of the state’s nine racetrack casinos diverts about half of its revenue to state education programs, but Batavia Downs is the only one structured so that remaining profits go to local municipalities.”
Officials are pessimistic about the future of racing - Times Union
“During the New York State Franchise Oversight Board meeting today, New York Racing Association officials described an uptick in handle and revenues but FOB members were unimpressed.
Because of the millions of dollars rolling in to NYRA from last fall’s opening of a video lottery terminal facility at Aqueduct, NYRA is able to spend more on purses, that may be attracting better horses, and improvements, said NYRA President Charles Hayward.
US settles longstanding grievances with US Indians - New York Daily News
“For Native Americans in the United States, forever always lasted just a few years.
The US government has concluded dozens of treaties with American Indians over the past 236 years. In almost all of them, the Native Americans were promised to be given land "forever."
But soon speculators, oil drillers and gold prospectors would turn an eye towards the remaining hunting grounds.
Washington and the country's Indian tribes warred militarily in the 19th century and judicially in the 20th. Now the two sides have agreed on a settlement of longstanding disputes, some dating back a century.
Schools to get $16.9 million from casino profits Buffalo News
BATAVIA—The Batavia Downs Casino generated $16.9 million for education during the fiscal year than ended March 31, according to data released by the state’s Division of Lottery.
As part of the gambling license held by Western Regional Off-Track Betting, which owns and operates the harness race track, 51 percent of casino profits go to fund education. The nearly $17 million is about what two of Genesee County’s rural school districts will receive this year in state aid.
NFL allowing limited casino ads USA Today
NEW YORK (AP) — The NFL will allow teams to accept advertisements for casinos and other state-licensed gambling-related establishments during the next two seasons.
Those ads can appear only in game programs, on local radio broadcasts and in the upper bowl and inner concourses of stadiums….
Cappelli to Return to Bond Market - Crain's New York Insider
(subscription required, full article posted below)
A lawsuit last fall by Empire Resorts, the company that owns the racino in Monticello, stopped Westchester developer Lou Cappelli from trying to raise $400 million in the bond market to finance a nearby hotel and racetrack on the site of a former Borscht Belt hotel. The suit was dismissed in February, clearing the way for Cappelli to return to the bond market in the next 45 to 60 days, said Cappelli associate Henry Zabatta. Meanwhile, Empire Resorts—a publicly traded company whose majority shareholder is associated with Aqueduct Racino operator Genting—was scheduled to publicly present its plan last night for a new Catskills racino adjacent to Cappelli's property.
When Gambling Is Good: NY Schools Get $667 Million In Aid From Racinos - Gothamist
“While the scenes at the opening of the new Resorts World racino in Queens may seem depressing to some, having people throw away their hard-earned money has one upside: More aid for schools! According to the Post, "New York’s nine 'racinos' generated $667 million in aid for schools last year — an increase of 28 percent."
Apparently the Resorts World at the Aqueduct generated $100 million in its first five months while the "Yonkers Raceway’s Empire City racino generated $315 million for education during the 2011-12 fiscal year that ended on March 31." All racinos must "dedicate nearly half of the “net win” to the New York Lottery Division to fund schools. In addition, racino revenues also help finance the horse-racing industry and assist local governments."
State's Racino Revenue Gets Big Boost From Aqueduct - NY 1
New York's racinos are turning out to be a winning proposition lately.
The nine racetrack casinos owned and operated by the New York Gaming Association brought in about $1.3 billion last fiscal year; an increase of 30 percent over last year.
Nevada revenues up again; Atlantic City down; New York racinos up in 2011 - Casino News
“In New York, revenues at the state’s nine racinos came in at $1.43b in fiscal 2011 (ending March 31). That’s up 29% from the previous year. The Aqueduct, which only opened its doors in October, brought in $252.7m in net revenue – more than the full year totals of seven of the other eight racinos.
Monticello Casino and Raceway generates $24.4 million for state education - Mid Hudson News
Monticello Casino and Raceway generated $24.4 million for education in New York State during the 2011-12 fiscal year, according to data released by the New York State Division of the Lottery. A total of 39 percent of the facility’s net win goes directly to the Lottery to fund education.
New Yorkers nearly split on expanding casino gambling - Albany Business Review
“New Yorkers remain divided on the issue of expanding non-Indian casinos in New York state, according to the latest Siena Research Institute survey.
The poll found 50 percent of those surveyed support expanding gambling while 46 percent oppose it.
“It is not a partisan or regional issue,” said SRI pollster Steven Greenberg.
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