The oversight board cares not about bettors else it would see that

Nassau OTB is open every day of the year that tracks are running all across the United States that bettors want to bet.  Most everyone except for Andrew Cuomo knows that Andrew Cuomo is not in charge of telling people when "Easter Sunday" is. The Emperor has no clothes! 


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Oversight board warns NYRA not to rely on VLT revenue
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3:02 PM, July 6, 2012 ι By ED FOUNTAINE

Is horse racing's golden goose about to stop laying her golden eggs?

In its 2011 annual report to Gov. Andrew Cuomo and the state legislature, the New York State Franchise Oversight Board, responsible for overseeing the operations of the New York Racing Association, has warned NYRA about relying too heavily on video lottery revenue from the casino at Aqueduct.

"NYRA must establish a long-term financial goal to end its reliance on VLT subsidies and immediately develop plans on how it will meet this goal," the report reads. "A number of Board members have expressed that it would be appropriate to conduct a review of the distribution of Video Lottery revenue to purses as it relates to the impact on racing and the overall marketing of the sport."

The report also chastises NYRA for runaway expenditures.

"The Board also remains focused on NYRA's growing expense structure in the face of declining (betting) handle across the industry. This status quo is simply unsustainable. If expenses are allowed to continue to grow, not even the substantial investment made by the State into NYRA through the VLT support payments will be enough to cover the losses incurred by NYRA's operations."

Read more: http://www.nypost.com/p/blogs/posttime/oversight_board_warns_nyra_not_to_GbqmniWcd01t3fOxEsTpaP#ixzz20enbvEsk

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Long Island Business News

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Ronkonkoma, NY 11779-7348 

Home > LI Confidential > Stop scratching on holidays

Stop scratching on holidays
Published: June 1, 2012

Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
Easy money.