NYRA budget: Profit in 2012, record purses at Saratoga
New York Racing Association trustees are set to approve a 2012 budget Wednesday that includes a 40% hike in purses at Saratoga - boosting purse money to record levels - and up to $100 million in capital improvements for the historic racetrack to begin in 2013.
In an interview with the Albany Business Review, president and CEO Charles Hayward also said NYRA was anticipating a profit next year for the first time in more than a decade. NYRA expects to lose close to $12 million in 2011, but the opening of the casino at Aqueduct has brought the promise of a turnaround in New York racing's financial picture.
