Suff
10-08-2004, 07:11 PM
http://www1.nyra.com/belmont/news.asp?track=B&id=1448
The upcoming meeting of The New York Racing Association Board of Trustees on October 13th will mark the four-year anniversary of my election to serve as NYRA’s Chairman and Chief Executive Officer. During that time, NYRA has faced a great many serious challenges. I am proud to say that NYRA has met and overcome each and every one of those challenges through the integrity, hard work, and perseverance of its talented and dedicated management employees. I am truly grateful for the service and dedication I have received from each and every one of NYRA’s administrative and racing employees, and I owe them a tremendous debt of gratitude for helping me, and the entire NYRA Board of Trustees, re-make NYRA into the strong and vibrant racing association that it is today.
When I took the helm at NYRA four years ago, the future of the organization was very much in question. NYRA was facing investigations from the New York Attorney General, the New York State Comptroller, the New York State Racing and Wagering Board, and the United States Attorney’s Office concerning allegations of general mismanagement and tax fraud by certain of its pari-mutuel employees. Moreover, NYRA’s financial situation was seriously deteriorating, with operating costs spiraling out of control and revenues from on-track handle diminishing. Today, with the help of its Federal Monitor, NYRA has put the cloud of suspicion and investigation behind it. Moreover, NYRA has found new and innovative ways to operate more efficiently, by reducing its operating costs and deriving more revenue from its racing product. NYRA is well positioned to face the challenges that lay ahead, such as the implementation of a large-scale video lottery casino at its Aqueduct Race Track and securing an extension of its franchise from the State to conduct pari-mutuel wagering on its races.
The upcoming meeting of The New York Racing Association Board of Trustees on October 13th will mark the four-year anniversary of my election to serve as NYRA’s Chairman and Chief Executive Officer. During that time, NYRA has faced a great many serious challenges. I am proud to say that NYRA has met and overcome each and every one of those challenges through the integrity, hard work, and perseverance of its talented and dedicated management employees. I am truly grateful for the service and dedication I have received from each and every one of NYRA’s administrative and racing employees, and I owe them a tremendous debt of gratitude for helping me, and the entire NYRA Board of Trustees, re-make NYRA into the strong and vibrant racing association that it is today.
When I took the helm at NYRA four years ago, the future of the organization was very much in question. NYRA was facing investigations from the New York Attorney General, the New York State Comptroller, the New York State Racing and Wagering Board, and the United States Attorney’s Office concerning allegations of general mismanagement and tax fraud by certain of its pari-mutuel employees. Moreover, NYRA’s financial situation was seriously deteriorating, with operating costs spiraling out of control and revenues from on-track handle diminishing. Today, with the help of its Federal Monitor, NYRA has put the cloud of suspicion and investigation behind it. Moreover, NYRA has found new and innovative ways to operate more efficiently, by reducing its operating costs and deriving more revenue from its racing product. NYRA is well positioned to face the challenges that lay ahead, such as the implementation of a large-scale video lottery casino at its Aqueduct Race Track and securing an extension of its franchise from the State to conduct pari-mutuel wagering on its races.