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Bids have to ready by Aug. 29
PAUL POST, The Saratogian
SARATOGA SPRINGS -- One of the racing season's most important dates is the Aug. 29 deadline when firms interested in running New York's racetracks must submit their bids.
New York Racing Association's contract to run Saratoga Race Course, Belmont Park and Aqueduct expires at the end of next year.
Sixteen firms, including NYRA, have expressed interest in running the franchise.
Aqueduct is expected to get 4,500 video lottery terminals by mid-2007, which has attracted several large gaming corporations to the bidding process.
In addition to the announced bidders, any number of firms might still join in as business partners.
All such partnerships must be revealed by the Aug. 29 deadline.
Some firms such as Empire Racing Associates have already indicated their business relationships. Empire expects to collaborate with Delaware North Co., which runs Finger Lakes Gaming & Racetrack and VLT operations at several other tracks including Saratoga Gaming & Raceway.
NYRA, in contrast, is playing its cards close to the vest, refusing to make its partnerships known until the deadline arrives.
On Aug. 1, Albany Law School will present its sixth annual Saratoga Institute on Racing and Gaming Law at the Gideon Putnam Hotel, where many industry leaders will address the process of selecting a new racetrack operator in panel discussions.
Speakers will include NYRA Chairman Steve Duncker, Empire Racing Associates CEO Jeff Perlee, former Friends of New York Racing President Tim Smith, Steve Crist of the Daily Racing Form and Patrick Barrett, chairman of the state committee charged with reviewing each bid.
The Ad Hoc Committee on the Future of Racing will have until Sept. 29 to make its recommendation to the state Legislature about the firm(s) it believes is best suited to run New York racing.
It's believed that the next franchisee will get a 20-year contract, making the selection process crucial to the industry's future health and well-being.
The Legislature will ultimately decide who gets the franchise, and is expected to make its decision next spring or early summer.
NYRA has run the tracks since it was created in 1955. |
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