Rokeby Forever wrote:Who gets the slots? What do the horsemen get?
That is what will be ironed out between now and then. It's up to the behind closed doors sessions what % the horseman will get. The more the take the gaming enterprise gets, the less the horseman will get. Bruno who has been pressing to increase the % the winning gaming entity will get wants to take it from the horseman. This had been ironed out in Sept. before Bruno put the skids on it. You want percentages, heres percentages concerning all the VLT revenue that will come from not more than 4,500 machines that will be installed at Aqueduct ...but remember any and all changes for the worse, from these previously agreed upon %'s between the State and NYRA concerning a decreased % of VLT revenues for the horseman will be thanks to Bruno.
VLT Revenue breakdown signed and agreed to between the State and NYRA:
1) Payments equal to 4% of VLT revenues for each year of the VLT license
to be dedicated for capital expenses in maintaining and upgrading Aqueduct, Belmont and Saratoga.
2) Payments equal to 3% of VLT revenues for each year of the VLT license, for general thoroughbred racing operations.
3) For the first year of VLT operations, payments aggregating in the sum of 6.5% of VLT revenues for such year, and thereafter, for each year of the VLT license, payments aggregating in the amount of 106% of the prior years payment, provided that in any given year such aggregate payments shall not exceed 6.5% of the current annual VLT revenues, to be deposited into a segregated account and applied solely to fund racing purses.
4) For the first year of VLT operations, payments aggregating in the sum of 1% of VLT revenues for such year and for each year of the VLT license, payments aggregating in the amount of 103% of the prior years payment, provided that in any given year such aggregate payments shall not exceed 1% of the current annual VLT Revenues from VTL's at the Aqueduct Racetrack facility.
OK, there's some legal mumbo jumbo I'm not sure about but as you can see all aspects including the care and maintenance of the track will be addressed. Also whoever wins the Gaming contract will be responsible for building a state of the art facility to house the up to 4,500 VLT machines that will be permitted on the grounds. In addition, NYRA and the State will negotiate who will be brought in to run the gaming end of the business. Now this little tidbit I am sure is where Bruno will step in and have his say also as to who will win the gaming franchise, possibly all the man ever really was interested in anyway. TJ