costly: New York State Racing and Wagering Board - Horse Racing Forum - PaceAdvantage.Com

The_Knight_Sky · 02-01-2011, 01:05 PM

NY Gov. Proposes Racing Purse Surcharge - 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 · 02-01-2011, 01:14 PM

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 · 02-01-2011, 01:19 PM

Why not just eliminate the SR&WB?

Jeff P · 02-01-2011, 01:21 PM

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 · 02-01-2011, 01:27 PM

Who pays for the drug testing? Just wondering.

cj · 02-01-2011, 01:34 PM

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 · 02-01-2011, 02:09 PM

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 · 02-01-2011, 02:37 PM

Quote:

Originally Posted by Zman179

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.

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" ?

cj · 02-01-2011, 02:44 PM

Quote:

Originally Posted by 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 · 02-01-2011, 02:45 PM

Quote:

Originally Posted by 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.

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

Zman179 · 02-01-2011, 02:54 PM

Quote:

Originally Posted by The_Knight_Sky

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.

Quote:

Originally Posted by cj

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 · 02-01-2011, 03:05 PM

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 · 02-01-2011, 03:58 PM

Quote:

Originally Posted by cj

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

We already know why.
This is New York.

We're lucky that is all it is.

cj · 02-01-2011, 04:08 PM

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 · 02-01-2011, 04:11 PM

Quote:

Originally Posted by Tom

We already know why.
This is New York.

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.