New York Governor Andrew Cuomo has announced a plan to help keep racing alive at Finger Lakes Racetrack (Click here for Bill Finley's 'Finger Lakes Woes Could be Big Blow for NY' piece from Thursday's TDN).
The two-year plan would maintain the racing program at 2016 per-race purse levels and provide a race season of 145 days, with eight races per day from April to November. The average per-race purse for 2017 and 2018 would be $13,690–up from $13,224 in 2016.
Finger Lakes Racetrack operator Delaware North, del Lago Resort & Casino and the New York Thoroughbred Breeding & Development Fund would provide necessary support to keep average purses at 2016 levels.
• Delaware North would commit between $600,000 and $1 million, dependent upon video lottery gaming device performance. In return, the horsemen would guarantee an average number of entries per race.
• del Lago would provide approximately $440,000 to Finger Lakes Racetrack purses. This constitutes the previous expectation of annual payment they would have been required to make in racing support payments to Tioga Downs, had that facility not converted into a commercial casino. In return, del Lago would seek various corporate benefit.
• The New York Thoroughbred Breeding & Development Fund agrees, upon Board vote, to commit purse enrichment monies to the Finger Lakes purses. In return, Finger Lakes commits to a dialogue relative to racing surfaces with the Breeders and State, who will consider what economic development monies may be available for such purposes. The State would also evaluate various statutory impacts on the Fund's operation.
The Governor's proposal would apply to the 2017 and 2018 racing seasons, with the option to extend to a third year. All parties would reconvene in August 2017 and 2018.
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