NYRA board approves racing dates; Aqueduct releases stakes schedul

NYRA board approves racing dates; Aqueduct releases

winter/spring stakes schedule

The New York Racing Association (NYRA) board of

directors met in New York City on Wednesday and approved the organization's operating

and capital budgets for 2014 as well as NYRA's 2014 slate of racing

dates.

The board approved a 2014 operating budget of $155 million

and a capital budget of $23 million that forecasts a profit of $250,000

independent of Video Lottery Terminal (VLT) revenues. The vote was taken

following a lengthy discussion on the merits of proposed increases in admission

and parking fees at Belmont Park and Saratoga, included in the

budget. It was decided that market research with the wagering public on those

increases would be done prior to the board's next meeting in March.

The board approved a racing schedule of 252 dates in 2014 --

comprised of 79 days during the Aqueduct winter/spring meet, 54 days during the

Belmont spring meet, 40 days during the Saratoga meet, 37 days during the

Belmont fall meet and 42 days during the Aqueduct fall meet.

In a new initiative aimed at increasing handle, Aqueduct

will predominantly race on a Thursday-through-Monday schedule in January and

March, and on a four-day, Friday-through-Monday schedule in February. From April

through the end of the year, NYRA generally will hold live racing on its

customary Wednesday-through-Sunday schedule, with the usual exception of the

Saratoga meet when there will again be live racing every day except Tuesday.

The board heard a report from CEO and President Chris Kay,

who reviewed business results at the Saratoga and Belmont fall meetings as well

as the meet-to-date at Aqueduct. He also outlined projected cost

reductions and revenue increases within the 2014 budget.

Additionally, NYRA Vice-President of Corporate Development David O'Rourke announced that NYRA had completed its Request for

Proposals (RFP) process for selecting a consulting firm to advise NYRA on Long

Term Planning (LTP) initiatives. A.T. Kearney Inc., a firm with extensive and

relevant experience in the gambling, sports, entertainment, horse racing and

privatization spheres, was selected to negotiate a contract following a

comprehensive technical and pricing analysis during the RFP process.

The board heard additional reports from Chair David J. Skorton and Chief Financial Officer Susanne Stover. All materials discussed and reviewed during the

board's

meetings, replays of past meetings, and a list of board members are available

by clicking

here.

With the dates approved, NYRA announced

the

stakes schedule for the 2014 winter/spring meet at Aqueduct, with

stakes purses totaling $6 million.

The Grade 1, $1 million Wood Memorial, New York's premier

prep race for the Triple Crown, tops the stakes schedule and will be contested

on April 5. The Wood Memorial will receive top billing on the card that also

will include the Grade 1, $500,000 Carter Handicap; Grade 2, $300,000

Gazelle; Grade 2, $250,000 Ruffian Handicap; and Grade 3, $300,000 Bay

Shore.

In addition, Aqueduct will host three graded stakes around

two turns for three-year-olds that lead to the Wood Memorial -- the Grade 2,

$200,000 Jerome on January 4; Grade 3, $250,000 Withers on February 1; and Grade

3, $500,000 Gotham on March 1.

The minimum stakes purse is $100,000, up from $75,000 last year.

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