It has been reported that the New York Racing Association is again seeking help in Albany.
The problem this time is NYRA’s inability to video stream its races, a privilege it says could generate $2 million a year for the strapped racing outfit. Under current law, people can bet on NYRA races online, but can’t watch the racing on either NYRA or off-track betting sites.
Help is on the way, in the form of approval of a bill by the New York Senate racing commission, which has approved video streaming for NYRA and OTBs. The measure, S.6895, would allow NYRA to stream its signals on its Website, and NYRA’s president and CEO says it could generate the $2 million predicted revenue in the first year and “substantial increases going forward.”
He also says OTB should be allowed to videostream “assuming that we can reach a suitable business arrangement,” but adds that videostreaming “is only one of the many business operations that should be consolidated between NYRA and the OTBs, but there does not appear to be serious interest to do any of these initiatives.”
The proposed bill would allow tracks and OTBs to expand the market and better compete with out-of-state betting outlets, including youbet.com, which can and does show NYRA races.
The Senate racing committee approved the measure on Tuesday and sent it to the full Senate with a do-pass recommendation. No matching bill has been introduced in the Assembly as yet. The Saratogian in Saratoga Springs says that house may be waiting on an omnibus racing bill, rather than tackling issues one at a time.
New York Governor David Paterson has proposed giving NYRA $17 million as an advance on future racino revenues, estimated to reach $250 million a year. NYRA could repay the loan from racino income, but it is nine years since the racino was approved and could be another nine before it is built.
(Harness Tracks of America)