Author Topic: Question on yonkers..batavia..vernon etc  (Read 4971 times)

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harnessplop

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Question on yonkers..batavia..vernon etc
« on: November 26, 2020, 11:01:46 AM »
Why did yonkers and others sign a provision thst racing must stay in order for casino to run ?? Were they forced by law to sign it..confused. purse money for races...does track front this or they get money from the state.

The Exporter

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Re: Question on yonkers..batavia..vernon etc
« Reply #1 on: November 26, 2020, 12:27:00 PM »
They sign these agreements to get the casino up and operating. Then they do the contractual minimum. In the meantime the lack of real skin in the game and blind and carless management can not police the game. This all sets up a great lobbying effort by the casino to show the State how they can better use those hundred million clams in a better and more politicly pleasing way. These long term agreement are without honest intent and lack the spirit of the agreement.     

HornbyDuke

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Re: Question on yonkers..batavia..vernon etc
« Reply #2 on: November 26, 2020, 01:37:18 PM »
Well stated.

I hear tell ny has 60 billion dollar budget gap now. With probably three more months of markedly reduced revenue incoming will likely swell another 15 billion.  Ny st fiscal budget begins 4 -1 (runs thru 3-31 of 2022).

I'm not quite sure how that can be given that state budget last year was 175 billion. State generates a lot of its revenue from wall street and pandemic hasn't hurt that. To be down 75 b on a 175 b budget is quite a gap.

But state unlike feds can't operate at a deficit. So next yr cuts may be draconian.

Just saying yonkers may want to try real butter on popcorn. That might pick up sales. 2 of the 5 octogenarians that had attended track have passed from covid. That leaves the remaining three a lot of popcorn to eat for track profits  to offset budget cuts next year. No more imitation butter on the popcorn and sales may sky rocket.

Those three oldtimers might eat enough to keep those purses at the obscene levels they are. Or politicians might be in a mood to keep giving away $ they won't have for the next 5 yrs. We'll see.  ngc3

When does current agreement run out?

The Exporter

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Re: Question on yonkers..batavia..vernon etc
« Reply #3 on: November 26, 2020, 03:21:17 PM »
Insightful, Duke. I believe Faraldo got MGM to the table when they purchased from Rooney. I would not think MGM would extend past the sunset date of Zone 1 being left out of casino license. So, 2-3 years maybe. But once again, the contract has little leverage if Coumo wants the revenue generational power of down state casinos.

Superfecta

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Re: Question on yonkers..batavia..vernon etc
« Reply #4 on: November 26, 2020, 05:23:12 PM »
Insightful, Duke. I believe Faraldo got MGM to the table when they purchased from Rooney. I would not think MGM would extend past the sunset date of Zone 1 being left out of casino license. So, 2-3 years maybe. But once again, the contract has little leverage if Coumo wants the revenue generational power of down state casinos.

Plenty of revenue from his book. OOOHHH wait, that goes in to his pocket with the $25k raise while so many others are starving.

harnessplop

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Re: Question on yonkers..batavia..vernon etc
« Reply #5 on: November 26, 2020, 09:31:49 PM »
I thought yonkers agreement is many more years

The Exporter

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Re: Question on yonkers..batavia..vernon etc
« Reply #6 on: November 27, 2020, 06:31:51 AM »
I thought so also. I remember Faraldo getting a 7 year deal. Time flies by, that was 2 years ago.

PIGLAND

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Re: Question on yonkers..batavia..vernon etc
« Reply #7 on: November 27, 2020, 08:48:20 AM »
if race could support itself we would race forever

Atthetrack7

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Re: Question on yonkers..batavia..vernon etc
« Reply #8 on: November 27, 2020, 09:29:10 AM »
 I HEAR JOE IS LOOKING FOR A GOLDEN PARACHUTE KIND OF DEAL FOR SELLING THE RACING END OF IT OUT

harnessplop

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Re: Question on yonkers..batavia..vernon etc
« Reply #9 on: November 28, 2020, 12:12:10 PM »
Who knows

harnessplop

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Re: Question on yonkers..batavia..vernon etc
« Reply #10 on: November 28, 2020, 01:17:46 PM »
People moved on...rather be all over there phones then watching horses. Times have changed. Guess t bred always was higher volume$$ and they have pick 4. 5. 6. That can be tons of money and mandatiry E5..exact five finishes. Harness will be done all over soon. How can any track run in 2025..except meadowlands n woodbine

 

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