NYRA eager to return to private control
PHOTOGRAPHER: MARC SCHULTZ
Michael J. Del Giudice speaks during the New York Racing Association, Inc. (NYRA) Reorganization Board of Directors held at the Holiday Inn Saratoga Springs on Wednesday August 10, 2016. Christopher Kay, President and CEO of NYRA is seen at left.
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May 26, 2016
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SARATOGA SPRINGS — Returning the New York Racing Association to private control will be the organization’s top priority in 2017, the NYRA board chairman said Wednesday.
Michael Del Giudice, who chairs the state-appointed board overseeing NYRA, said discussions with the governor’s office will resume after Labor Day, with the goal of striking a deal with the governor and state legislators by January.
“Hopefully we come to an agreement with all three parties,” he said during a NYRA Reorganization Board meeting in Saratoga Springs. “That will be our No. 1 priority for next year.”
NYRA was nearly returned to private nonprofit control this year, but in June, Gov. Andrew Cuomo and the leaders of the state Assembly and Senate decided to extend the state’s oversight over NYRA’s operations for a fifth year.
So far, there’s been no resolution of the differences between the privatization bills passed by the Legislature this spring and Cuomo’s privatization plan.
The key differences are that Cuomo has argued for a cap on how much revenue NYRA can receive from the video lottery terminals at Aqueduct racetrack in New York City, and for more state control over who will serve on the reprivatized NYRA board.
The NYRA board voted this spring to recommend reprivatization, but without stating an opinion on the competing plans.
The board points to what members say is a turnaround for NYRA since the state took control in 2012 — its financial condition is better, racing quality has improved and the number of on-track equine deaths has declined.
“I think we’re 100 percent ready,” Del Giudice said.
“It’s a bit frustrating,” he acknowledged after Wednesday’s meeting. “I’ve been in politics since the 1970s, so I know there’s ups and downs.”
He said he’s spoken to both Cuomo and legislative leaders. “Everyone involved says it’s on track to get resolved this year,” he told reporters.
The state took control of NYRA in 2012 after years of financial troubles and management scandals. The legislation originally called for a three-year turnaround plan, but state control was extended for another year in 2015, and again this year.
A number of local leaders in Saratoga Springs — home to NYRA’s perennially successful summer Saratoga meet, now near its mid-point for 2016 — believe a return to private control is essential to the organization’s future. Concerned Citizens for Saratoga Racing has posted “Whoa Cuomo” signs throughout the community in an effort to raise public awareness about what they see as the governor’s efforts to assert continued control. John Hendrickson resigned as racing adviser to the governor in June, citing his own frustration.
Among other things, Saratoga leaders are concerned that a short-term board will neglect needed renovations and improvements at the historic Saratoga track.
NYRA President and CEO Chris Kay noted that the current board, as a state oversight board, is required to meet in public, which could put NYRA at a competitive disadvantage within the racing industry.
“The problem with open meetings is that the competition can listen in,” he said.
During the meeting, NYRA officials reported a strong start to this year’s Saratoga meet.
Through the first 16 racing days, track attendance totalled 452,000, which Kay said is 1.2 percent ahead of the same period last year.
“We need to remember we are achieving that on top of a record year last year,” Kay said. “We’re not saying we can sustain this result, because there’s always bad weather.”
The 2015 Saratoga meet drew 1.065 million racing fans, with attendance aided by speculation about Triple Crown winner American Pharoah coming to the track, and then a sellout crowd of 50,000 coming to see Pharoah race in the Travers Stakes, where he lost.
On-track handle to date is $62 million, down 4.25 percent. “We attribute that to two rainy days,” Kay said.
All-source handle so far is $264 million, up 1.5 percent. All-source handle includes bets placed at Off-Track Betting parlors, tracks that have simulcasting and on new betting platforms like NYRA Bets, which allows people to place bets through their mobile devices.
Racing Secretary Martin Panza said all-source handle is trending upward for Saratoga’s big Saturday racing programs, which will peak with the Travers on Aug. 27.
On the first Saturday of this year, which featured the Diana, handle was $23.5 million, up $300,000 from last year and $1.4 million from two years ago, he said.
On the second Saturday, which featured the Jim Dandy, NYRA did $29.9 million in handle, up more than $3 million from 2015 and $5.5 million from 2014.
“We’re seeing tremendous growth,” Panza said.
This past Saturday, with the Whitney Stakes, bets totalled $29.3 million, down about $18,000 from a year earlier. Panza said the betting may have been affected by the race having a prohibitive favorite, Frosted — who did indeed win the race.
Reach Gazette reporter Stephen Williams at 395-3086, swilliams@dailygazette.net or @gazettesteve on Twitter.
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