By T. D. Thornton
An estimated $9 to $12 million for a proposed synthetic racing surface at Aqueduct is likely to be included in the 2017 New York Racing Association (NYRA) budget, NYRA chief executive officer and president Chris Kay told the state's Franchise Oversight Board (FOB) at a Tuesday meeting.
“We believe that having a synthetic track at Aqueduct would be very helpful in bringing more horses from other locales to come and compete during our winter meet,” Kay said.
Kay specifically cited the potential for dovetailing race meets with Woodbine near Toronto, which races on a Tapeta Footings surface and annually concludes its Thoroughbred season at about the same late-autumn time as the Aqueduct inner dirt meet begins.
“We also believe that this track would be an excellent test to see if we could run a similar track at Belmont in the future,” Kay added.
Kay explained that the recent installation of a synthetic surface on the small “pony barn” jogging track on the Belmont Park backstretch has “done very well.”
He added that “a number of trainers have expressed interest and support for that surface” and “that was one of the reasons we put it in at Belmont this year, to get that kind of feedback.”
Kay did not give specifics about which existing courses at Aqueduct or Belmont might have to be transformed to make way for any new synthetic ovals. No particular brand of synthetic surface was discussed. The proposal has yet to reach the bidding phase, he said.
Separately, the FOB voted on two resolutions from an agenda that was light on new business and heavy with financial reviews from last year and the early part of 2016.
The first was a unanimous approval of a $2 million capital contribution that will be used to develop and operate a national advance-deposit wagering (ADW) platform that has been in the planning stages for several years.
The ADW will operate as a limited liability company called NewCo Ventures. NYRA will own, manage, and retain fiscal control of 91% of NewCo. Global Betting Exchange, the Ireland-based betting technology company that is providing the computerized infrastructure, has the remaining 9% stake.
“We are very interested in trying to enter this national market, and the monies that would be allocated would help capitalize the organization,” Kay said prior to the vote.
The second unanimously passed resolution involved the approval of a document that will allow NYRA to work in conjunction with state agencies to preserve historic aspects of Saratoga Race Course while moving forward with rehabilitation and expansion work at the Spa. @thorntontd
Not a subscriber? Click here to sign up for the daily PDF or alerts.
