2012—well, late 2011—was supposed to be the start of a new era for New York racing. After a decade of uncertainty, the leadership and financial holes were closed, management stabilized, a positive revenue stream guaranteed by the opening of the Genting Resorts World New York City casino at Aqueduct Racetrack, a percentage of whose profits would go to the New York Racing Association and other racing entities in exchange for the casino opening in the space that used to be the track’s grandstand.

The casino opened in late October of last year, and purses at the track rose nearly immediately; plans for renovation and upgrades at NYRA’s three tracks (Aqueduct, Belmont Park, and Saratoga Racecourse) were conceived and publicized; and most people involved with New York racing breathed a sigh of relief.    (Continue reading at Forbes.com)