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NY lawmakers vote against casino relief bill

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February 06, 2008 Send To A Friend  | Print View

Lawmakers in New York have voted against a casino bill that would let racetracks in the state keep a larger share of the VLT revenue for their operations, although according to a story by the Albany Times-Union, members of the Assembly Racing And Wagering Committee said the proposed law wouldn't do enough for the racetracks. 

 

By an 8-2 vote, members of the Assembly Racing And Wagering Committee shot down the bill which is sponsored by the committee’s chairman, Assemblyman Gary Pretlow D-Mount Vernon. There was opposition from lobbyists for Yonkers Raceway, Monticello Racing & Gaming, and Saratoga Gaming & Racing.

 

A story on the Albany Times-Union web site said Pretlow, who held the bill aside rather than see it die in committee, said the committee members failed to understand the measure.

 

The bill would take an additional $60 million from the VLT revenue and spread it out among eight racetracks, including Batavia Downs, Buffalo Raceway, Monticello Raceway, Saratoga Gaming And Raceway, Tioga Downs, Vernon Downs and Yonkers Raceway.
 
Pretlow told the Times-Union the bill would provide $2.8 million more for the track VLT operator at Batavia; $4.8 million for Buffalo; $2.4 million for Finger Lakes; $6 million for Monticello; $6.2 million for Saratoga; $6.3 million for Tioga; $5.1 million for Vernon; and $26 million for Yonkers.

 

In the Times-Union story, Pretlow also said Yonkers opposed the bill because it wouldn't do enough to help the track get out of a “bad” business decision to invest $280 million on a VLT facility that doesn’t earn enough to pay off its loans.

 

One who wants to see the bill passed is Jeff Gural, the principal owner of Vernon Downs and Tioga Downs. In a related story in the Syracuse Post-Standard, Gural said Vernon could close next week if the bill doesn’t pass.

 

“I have to talk with my partners, but if it was up to me, it would close Monday,” Gural was quoted as saying in the Post-Standard.
 
Click here to read the entire Times-Union story.
 

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