ny constitution srt 1 sec 3 is neither a pray, hym or psalm that andrew has ever recited
Cuomo’s casinos are now cannibals
Claude Solnik
Long Island Business News
2150 Smithtown Ave.
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.
Pope Says Fake News Is Devil’s Work
Wednesday, January 24, 2018
Sunday, April 1, 2018
| Track Code | Track Name | Entry | Scratch | 1st Post ET | 1st Post Local | Time Zone | Stakes Race(s) | Stakes Grade | T.V. Indicator |
|---|---|---|---|---|---|---|---|---|---|
| GG | GOLDEN GATE FIELDS | 48 | 24 | 3:45 PM | 12:45 PM | PDT | |||
| GP | GULFSTREAM PARK | 72 | 0 | 1:15 PM | 1:15 PM | EDT | |||
| SA | SANTA ANITA PARK | 72 | 24 | 3:30 PM | 12:30 PM | PDT | |||
| SUN | SUNLAND PARK | 120 | 0 | 2:30 PM |
First papal document on the subject calls for greater accuracy by journalists
Gov. Cuomo’s 2013 bet on casinos in New York is looking worse and worse by the day.
Last week, Moody’s reported that revenues at three new upstate gambling joints failed to meet expectations — falling more than $200 million short. And though the casinos have brought new cash to their areas, much of it has come via “cannibalization” of business from “racinos” (slot-machine sites at racetracks).
This month, Moody’s also downgraded its rating of one of the three casinos, del Lago in the Finger Lakes, to a “negative outlook.” The agency warns that del Lago may be unable to make its debt payments.
The gambling market is already saturated by all the existing racinos, casinos in nearby states and those run by Indian tribes here. It just can’t support all the new competition.
And another upstate parlor, the $1.2 billion Resorts World Catskills, opens Feb. 8.
The new casinos “have not been able to grow the market enough to avoid a substantial amount of cannibalization,” says Moody’s. “This trend, where newcomers are stealing [market] share from incumbents, is consistent with what has been occurring throughout US gaming markets.”
That is, what’s happening here was predictable. Heck, just look what happened in Atlantic City: Five of 14 casinos closed.
Yet Cuomo told New Yorkers otherwise. In 2013, he pushed a constitutional amendment to allow seven casinos to open here. This, he vowed, would goose the economy (particularly in ailing upstate), create jobs and pump up tax revenue.
Oops: Last year, it was Albany that sent $2 million to Vernon Downs, rather than the other way around. The racino had threatened to close, eliminating 300 jobs.
Hey: New casinos (and new bailouts!) can mean new campaign donations for pols. So maybe it’s a good bet after all — for Cuomo, anyway, if not New York.
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