Gaming News

New York Track Signs Deal

NEW YORK – As reported by the Westchester County Business Journal: "The Standardbred Owners Association of New York has reportedly signed a five-year deal with Yonkers Raceway that will pave the way for long-awaited track renovations and the construction of the proposed video lottery terminal (VLT) facility.

"Officials with the association, which represents harness owners and horsemen, said the agreement came after nine months of negotiations with track owners. The new agreement will run through 2008.

"Under the contract, the raceway will suspend racing and simulcasting for four months while renovations are under way. Horsemen will be allowed to use the barn and practice on the track during that period. The entire project is expected to take 10 months to complete.

"When racing resumes, horsemen who have made 15 or more starts at Yonkers from Jan. 1 through June 30, 2004, will be eligible for purse bonuses of 20 percent to the dollar. The bonuses would gradually increase if Yonkers remains dark for longer than the planned period.

"…The cost of the renovation project is estimated at $300 million, including the addition of a new casino wing, installation of 5,500 video gaming terminals, and renovation of the current clubhouse…"

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