NASSAU OTB
Historians tell us that the first formal horse race meeting in America took place in 1665 on the plains of Hempstead, Long Island. More than 335 years later, horse racing remains a popular sport and a key economic engine in Nassau County.
Established by the State Legislature in 1975 to generate profits for the State and local governments, Nassau Off Track Betting Corporation, a public benefit corporation, better known as Nassau Downs OTB, is one of six, separately governed New York State OTBs.
Nassau Downs opened its doors to the public on January 31, 1975 in the Village of Hempstead. Since that date, Nassau OTB’s business and profits have steadily grown, reaping tremendous benefits for Nassau taxpayers and racing fans.
All of the profits Nassau Downs generates from wagering going directly into Nassau County’s General Fund. Since its inception, Nassau OTB has generated more than $241 million in profits and $144 million in surcharge for Nassau County.
Over the years, Nassau OTB has expanded its simulcasting by offering wagering on tracks from all over North America. In 2003, legislation was passed allowing OTB to offer nighttime thoroughbred racing for the first time.
Nassau Downs OTB has also expanded its branch operations with a suite of account wagering options; one convenient, portable account provides wagering via telephone operator and touch tone as well as branch self service wagering.
In February of 2004, Nassau OTB made history with the opening of the Race Palace, arguably the most state of the art, upscale and exciting racing teletheater in North America. Located on the Nassau-Suffolk border, just south of the Long Island Expressway, the Race Palace, with its 120 foot video wall, dining areas and bars, luxurious VIP rooms and cashier, self service and personal wagering devices, has become the preferred destination of new and seasoned horse-players alike.
Nassau Downs, under the leadership of its President Joseph G. Cairo, Jr., is continuing to broaden its wagering and entertainment horizons with upgrades to existing and new branch locations and the advent of the expanding network of Fast Track restaurant locations. This spring Nassau OTB will introduce both internet wagering and new cashier and self service wagering terminals in the branches. Both of these endeavors will further enhance the wagering and entertainment experience for our bettors and provide them with the most comprehensive and timely racing information available.
With Nassau OTB, we all win. You can bet on that.
A06124 Summary:
BILL NO A06124A SAME AS No same as SPONSOR Pretlow COSPNSR McDonald MLTSPNSR Rpld S1017 sub 2, amd S1016, RWB L Relates to percent of wagers made at off-track betting facilities conducted by in-state thoroughbred racing corporations and repeals certain provisions of such law relating thereto.Go to top
A06124 Actions:
BILL NO A06124A 03/16/2015 referred to racing and wagering 03/24/2015 amend and recommit to racing and wagering 03/24/2015 print number 6124aGo to top
A06124 Votes:
There are no votes for this bill in this legislative session.Go to top
A06124 Memo:
BILL NUMBER:A6124A
TITLE OF BILL: An act to amend the racing, pari-mutuel wagering and
breeding law, in relation to percent of wagers made at off-track
betting facilities conducted by in-state thoroughbred racing
corporations; and repealing certain provisions of such law relating
thereto
PURPOSE: To provide statutory relief for Off-Track Betting
Corporations, ensuring payments are going to localities and
municipalities for which these public benefit corporations were
designed to provide.
SUMMARY OF PROVISIONS: Section 1. Subdivision 2 of section 1017 of the
racing, pari-mutuel wagering and breeding law is REPEALED.
Section 2. Clause (E) of subparagraph 5 and clause (G) of subparagraph
6 of paragraph b of subdivision 1 of section 1016 of the racing,
pari-mutuel wagering and breeding law, as amended by chapter 18 of the
laws of 2008
Section 3. This act shall take effect immediately
JUSTIFICATION: While the State has provided relief to the thoroughbred
and harness tracks in the authorization of Video Lottery Terminals,
the amounts required to be paid from the Off-Track Betting
Corporations to the harness and thoroughbred tracks have continued at
rates last re-adjusted in 2003. Off-Track Betting Corporations
("OTBs"), meanwhile continue to pay outdated rates to privately owned
casinos, to the economic detriment of their participating local
governments.
Going forward, failure to provide this needed fiscal relief to the
Off-Track Betting Corporations and participating localities would be
catastrophic to both those localities and the horse racing and
breeding industries in the state.
LEGISLATIVE HISTORY: New Bill
FISCAL IMPLICATIONS: None
EFFECTIVE DATE: This act shall take effect immediately.
Go to top
No comments:
Post a Comment