Slot Machines - News

Headlines About Slot Machines

Slot Machines May Get New Owner

With a new governor coming in, the State of New York could be looking at some major changes. They have three major thoroughbred racetracks (Aqueduct, Belmont Park, and Saratoga), and slot machines that are planned to go into them – and all of them could be owned by a group that includes New York Yankees partner Steve Swindal. With the advent of new government and the slot machines all coming at about the same time, there is a lot to be done coming next year.

The State Committee on the Future of Racing in New York made recommendations to the incoming government that says they think the New York Racing Associations hold on the franchise should end. This would end a 50 year partnership with the group, but the committee thought Excelsior Racing Associates should be the group now handling the tracks and their incoming slot machines. The government will then have to make a final decision on how they want to handle the recommendation on the tracks and the slot machines when they get into office next year.

Excelsior told the committee that they would pay the state at least $100 million up front, and $50 million in pension debt owed by NYRA. The second closest competitor was Empire Racing who also proposed $100 million up front, and $7.5 million more a year for 20 years – which would include revenue from a hotel that they wanted to put in at Aqueduct. It basically came down to their scores on a system that the committee used to see who would be the best fit, added to the “details of their proposals” which included their plans as they pertain to the incoming slot machines. There are slot machines already planned for Aqueduct, and more slot machines proposed for Belmont Park as well.

Back to December Index - Slot Machines Fan

Slot Machines

Slot Machine News

Slot Machines - Books