***** PURLINA HORSE FEED RECALL ****** READ MORE>>
Please join the
New York Thoroughbred Breeders, Inc.
at our annual Awards Dinner
honoring the nominees and winners of the
New York-bred Divisional Champions for 2007
Master of Ceremonies:
WRGB Anchor Ed O’Brien
Special Guest:
Miss New York USA, Danielle Roundtree
Monday, May 12, 2008
6:30 p.m. cocktails
7:00 p.m. dinner
at the historic Gideon Putnam Hotel
in Saratoga Springs
$75 members / $100 non-members
Please RSVP by May 5, 2008
(SEE INVITATION IN .PDF FORMAT)
NYTB Working For the NY Breeder
By Michael McMahon, President
Due to the efforts of NYTB, the Fund’s revenue will be increased by $1M over the Governor’s MOU in the first year of VLT operations
On February 14, 2008 the NY Breeding and Racing industry took a giant step towards the reality of integrated racing and casino style gambling. Spearheaded by Senator Bruno’s will to support the NY breeding and racing industry, the renewal of the NYRA franchise became a reality. Senator Bruno personally stood by the Breeders of NY and guaranteed our Fund’s 1.5% annual split from the VLT Revenue, an increase of 50% over the Governor’s MOU.
The renewal of NYRA’s franchise to run Aqueduct, Belmont and Saratoga and the receipt of a $105 million loan should speed along the design, construction and eventual “Opening Day” ceremonies for a new Aqueduct. As the first facility to offer casino style gambling in NY City, the new Aqueduct will contain 4,500 Video Lottery Terminals or “VLT's”. Hopefully New Yorkers will decide to forego the trip to Atlantic City or Connecticut and try their luck at the Big A.
To give you an idea of the impact on the NY Breeding and Development Fund, with 4,500 active machines, producing a very conservative daily win of $200/machine, the state nets $6.5 million weekly. In year one of VLT operations, revenue to the NYBDF will equal over $4 million dollars. By year three of operation revenue will climb to nearly $5 million dollars as our full percentage comes in to play.
Using a less conservative estimate the Fund could take in between $6 and $8 million per year after year three – over half of the Fund’s current budgeted revenue. Of course this only tells half of the story because purses will also increase as the purse account will benefit by 6.5% of VLT take.
When they are built and implemented, the VLT’s should produce a dramatic stimulus to the NY Breeding industry in the form of an influx of investment in breeding stock, increased demand for NY -breds at yearling sales and other venues, and most importantly increased purses and awards. We should all be looking forward to what could be the new Golden Age of NY Breeding.
NYTB still has plenty to work on. The OTB situation promises to make the time between now and VLT operation an eternity. It is a complex problem on many levels, although it seems clear to all that the operation of the OTB’s by the franchise holder would alleviate millions of dollars in over head and allow for more cooperation in marketing efforts.
I am expecting that the Fund will have a shortfall if NY City OTB continues to fall behind in payments. This will hurt all of us financially as the Fund balances the shortfall in revenue with the ability to pay award checks. Once again, we will call on Senator Bruno to carry the NY Breeding industry forward and once again, NYTB will be right there working for your interests.
In the meantime, please join us at the annual NYTB awards ceremony on April 28 at the Gideon Putnam in Saratoga Springs. We will be honoring Senator Bruno and all of NY’s champions. I hope to see you there.
NEW YORK THOROUGHBRED BREEDERS 2008
STALLION SEASON TELEPHONE AUCTION
WAS A HUGE SUCCESS!
NYSHHAP (NY State Dep't Agriculture - New York State Horse Health Assurance Program)
Please check the CALENDAR page for upcoming events, both for the organization and its members. Also be sure to check EDUCATIONAL SEMINARS.
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