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NYRA Board Debates Global Betting Exchange Deal; CEO Announcement “Imminent”

By Eric Wing

The New York Racing Association, Inc. (NYRA) Board of Directors, meeting in Manhattan today, engaged in a spirited discussion over its contract with Global Betting Exchange (GBE) to provide technological upgrades to NYRA’s advance deposit wagering platform.

In response to an interim management team request to rebid the GBE contract, the Board approved a motion to move forward with the GBE contract subject to a review of material that will be delivered to NYRA’s Audit & Compliance Committee and Finance Committee Chairs. If the Chairs agree that there was a significant variance between NYRA’s procurement policy and the actions taken in this case, NYRA will move forward with a rebid. If not, the existing contract with GBE will be executed.

Chair David Skorton also provided an update on the CEO search, revealing that the nominations and governance committee is close to recommending a CEO candidate to the full board.

“I think, with board approval, an announcement of a CEO for NYRA is imminent,” Skorton said.

The Board also heard an update from NYRA’s interim management team on the Belmont Park spring/summer meet to date, including a recap of the 145th running of the Belmont Stakes on June 8. NYRA’s Audit & Compliance Committee and Finance Committee also issued reports to the board.

Later in the meeting, the board also voted to approve the Saratoga 150 plaque, approved the naming of the Oklahoma training track viewing stand the Whitney Viewing Stand, and approved NYRA’s remaining racing dates for 2013. Finally, the board voted to prohibit political contributions and fundraisers on NYRA property.

The Board also heard a report from the Nominations and Governance Committee and voted to approve the minutes of the Board meeting held on April 29, 2013.

All materials discussed and reviewed during the Board’s meetings, replays of past meetings, and a list of Board members are available here.


About the NYRA Board: The NYRA Board consists of 17 directors: eight appointed by Governor Cuomo; two directors each appointed by the Senate and Assembly; and five directors appointed by the former NYRA Board. Breeders and Horsemen each have an ex officio member. The NYRA Board is in effect for 3 years, following which NYRA will revert back to majority private control. Seven of the appointees are new to the NYRA Board, and bring experience from the entertainment, finance, and legal fields in addition to horse racing.