costly: New York State Racing and Wagering Board

[The_Knight_Sky]

NY Gov. Proposes Racing Purse Surcharge (http://www.bloodhorse.com/horse-racing/articles/61076/ny-gov-proposes-racing-purse-surcharge?source=rss) - By Tom Precious

New York State would impose a racing purse surcharge as part
of an overall budget-balancing exercise proposed today by Gov. Andrew Cuomo.

The governor wants to slap a 2.75% state surcharge on purses
for all horse races run in New York.

The proceeds--about $7.6 million this year and $8.5 million in 2012--
will go toward wiping out a recurring deficit by the industry’s regulatory arm
at the State Racing and Wagering Board.

[FenceBored]

Perhaps we should have a 'political families' surcharge to be assessed against any jurisdiction that elects to public office someone whose family has a history in politics. This 2.75% of jurisdiction's budget surcharge to be used to fund purse accounts. My back of the envelope calculations indicate that once this surcharge has been enacted the takeout at all US tracks can be set to 0.

[Tom]

Why not just eliminate the SR&WB?

[Jeff P]

I had to read it twice. Then I looked at the calendar to make sure today is Feb 01 and not Apr 01.

I'm left fricking speechless.

-jp

.

[Robert Goren]

Who pays for the drug testing? Just wondering.

[cj]

One question, who pays the surcharge? Is is the track, or is it owners? If it is the track, and they are raking in slots profits, I don't really see a problem with it.

[Zman179]

The way I read it, the surcharge would be borne by the owners in reduced purses; however, it will be easily usurped by the upcoming sharp purse hikes when the slots are up and running at Aqueduct in May/June.

I do agree with Cuomo's position that the NYSRWB costs should be borne by the industry. I am also aware, as a public-sector union member, that this will be one of the very few times I'll actually agree with him.

[The_Knight_Sky]

I do agree with Cuomo's position that the NYSRWB costs should be borne by the industry.



The proceeds--about $7.6 million this year and $8.5 million in 2012....



It costs how much for the NY State Racing and Wagering Board to operate annually? That is $16.1 million and is just to meet that agency's "deficit". Uh huh. :liar:

The first quarter has yet to be dropped into a slot machine and NY state is already looking to pilfer The Big A piggy bank. Will racetracks ever aim to become self-sufficient without relying on slot revenue? Will Linda Rice ever stop naming horses "We Need V.L.T's" ?

http://i53.tinypic.com/287b15.jpg (http://4.bp.blogspot.com/_RUC6ZCSryHY/SwMSpQOFGwI/AAAAAAAAA34/FrImySyoW4E/s1600/4113339272_9cf35fdb6f_b.jpg)

[cj]

One question, who pays the surcharge? Is is the track, or is it owners? If it is the track, and they are raking in slots profits, I don't really see a problem with it.

It was pointed out to me, rightly so, that the state is also going to be getting a huge chunk of slots profits...they just want even more apparently.

I doubt this is going to be paid by owners, at least right up front. Obviously it will still hurt them.

[cj]

The way I read it, the surcharge would be borne by the owners in reduced purses; however, it will be easily usurped by the upcoming sharp purse hikes when the slots are up and running at Aqueduct in May/June.

I do agree with Cuomo's position that the NYSRWB costs should be borne by the industry. I am also aware, as a public-sector union member, that this will be one of the very few times I'll actually agree with him.

Should he be trying to figure out why there is such a huge deficit first?

[Zman179]

Will racetracks ever aim to become self-sufficient without relying on slot revenue?

Frankly, no.

But I liked the photo you posted. I'm sure that when the slots are up and running, and the profits are flowing like water at the beach, that only the best quality concrete will be used to patch up that huge crack.

Should he be trying to figure out why there is such a huge deficit first?

Right now the trend amongst politicians, regardless of party affiliation, is to tax and cut. I'm surprised that Cuomo waited so long to propose this considering that he's been in office for 30 days.

[Zman179]

New York owners face new tax
By Matt Hegarty (drf.com)

http://www.drf.com/news/new-york-owners-face-new-tax

Horse owners in New York would pay a 2.75-percent tax on purse earnings under a plan proposed by the state’s new governor, Andrew Cuomo, to raise money for the funding of the state’s racing commission.

~~read the rest at the above link~~

[Tom]

Should he be trying to figure out why there is such a huge deficit first?

We already know why.
This is New York. :rolleyes:

We're lucky that is all it is.

[cj]

As bettors, we complain that horsemen don't care about us. I think this really sucks for owners and hope others feel the same.

Does our sport ever stop getting shit on?

[Bruddah]

We already know why.
This is New York. :rolleyes:

We're lucky that is all it is.

Politicians are like mosquitos. Once bitten, they will suck you dry. We need to swat the pesky bastards.

[jelly]

As bettors, we complain that horsemen don't care about us. I think this really sucks for owners and hope others feel the same.

Does our sport ever stop getting shit on?



I wish I could say no.

[offtrack]

Us New York state residents that have been here a while will remember that Papa Coumo was not a friend of racing while in office.

If the son acts the same toward racing I will not be surprised.

[samyn on the green]

Cuomo had a monopoly in TV ads, was supported and funded by the oligarchy as their candidate to run NY. With all this support it is no wonder that the citizens voted in lockstep and elected him WITH a 75%+ landslide. Every single media outlet sang his praises. With this much overwhelming support he will do as he pleases and you will pay what the oligarchy wants you to pay.

[chickenhead]

That's pretty brutal.. I see this board has already been getting 0.5% handle +$10 a starter..

[Zman179]

Cuomo had a monopoly in TV ads, was supported and funded by the oligarchy as their candidate to run NY. With all this support it is no wonder that the citizens voted in lockstep and elected him WITH a 75%+ landslide. Every single media outlet sang his praises. With this much overwhelming support he will do as he pleases and you will pay what the oligarchy wants you to pay.

Didn't help that the Republicans didn't have a viable candidate to run against him and a Tea Party guy with a temper wound up running against Cuomo. Surprised it was only 75%.

[Robert Goren]

Didn't help that the Republicans didn't have a viable candidate to run against him and a Tea Party guy with a temper wound up running against Cuomo. Surprised it was only 75%. Yet another place that the tea party insured a democratic victory. After the last 4 years of Spitzer and Paterson, you would have thought it would have been ripe for the taking with a viable candidate.

[Zman179]

Yet another place that the tea party insured a democratic victory. After the last 4 years of Spitzer and Paterson, you would have thought it would have been ripe for the taking with a viable candidate.

IMO, Spitzer would have made a good governor had it not been for his indiscretions. Paterson was a joke from start to finish. Bottom line is that the Republican Party is extremely weak in New York State.

[Linny]

Tea party or not, the republican party in NY barely exists. My pony could have beaten Rick Lazio in a primary.

[Tom]

We have certainly had a parade of boneheads pass through Albany.
The giant sucking sound Ross Perot hears was our governors sucking the life out the state.

[Broad Brush]

Not that I'm in agreement with this for the owners, however, if the proposal
was a hike in the takeout on the bettors-----the "horsemen" would be as quiet
as a church mouse.

[johnhannibalsmith]

As bettors, we complain that horsemen don't care about us. I think this really sucks for owners and hope others feel the same.
...

Ginsu sharp post.