NY bill would aid struggling racinos

A bill introduced in the New York Assembly Thursday would allow video lottery terminal operators to keep more money to help struggling racinos in the Empire State.

According to a story in the Albany Times Union, the bill introduced by Gary Pretlow, D-Mount Vernon, the chairman of the Assembly Racing And Wagering Committee, would give the eight tracks operating VLTs $50 million to $60 million in extra operating fees. The smaller tracks would also get up to $2.5 million in grants to expand with hotels, parking garages or banquet houses.

Pretlow said his bill was a bail-out for Vernon Downs and Tioga Downs, as well as the financially ailing Monticello and Yonkers raceways.

The Times Union story says the bill has the backing of Gov. Eliot Spitzer’s Democratic administration and some Republican senators.

The newspaper account said the bill called for each track receiving 10 percent of the first $100 million wagered, up from two persent, except for Yonkers, which would get eight percent, up from four percent.

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