The New York Racing Association will remain under the control of state officials for at least another year.
New York Governor Andrew Cuomo and state lawmakers agreed to tentatively extend state control of the racing association, which many want to see returned to private ownership.
The state took control of the racing association in 2012, with the intention of reorganizing it over three years. The nonprofit NYRA is in charge of Belmont Park, Aqueduct Racetrack, and the Saratoga Race Course.
When the initial three-year reorganization period concluded, there were no viable takers to make the NYRA private again, so the state retained control for another year.
Cuomo proposed appointing a board to oversee the NYRA, gradually reduce its state funding from video lottery terminals each year, and retaining state authority to take over its operations if a state panel declared the association faced financial trouble.
State lawmakers didn’t like Cuomo’s plan, though, and said it could create more problems, while giving Cuomo’s appointees too much power over the NYRA. Lawmakers also said reducing its funding share from video lottery terminals would violate state law.
Ultimately, state leaders agreed to buy more time to come up with a viable solution to making the NYRA an independent operation again by extending state oversight another year.
State lawmakers on June 15 had passed a measure creating a 15-member board to oversee the NYRA, which would include the association’s president, plus two Cuomo appointees, as well as others appointed by the Assembly, Senate, two state racing groups, plus the NYRA’s eight current members.
Cuomo, however, didn’t like that measure, so state lawmakers decided to extend its oversight for another year.
Ultimately, Cuomo and lawmakers agree the state needs to retain influence in the NYRA, but they didn’t have time to finalize a plan before the legislative session expired June 17.
