Bad money managers at the racetrack?

632661ca9d21f681a55dd24dc15316cb

At a time when Gov. Andrew Cuomo wants to expand gambling in the state, the New York Racing Association is not curbing costs despite two critical audits by the state, New York Comptroller Thomas DiNapoli said yesterday.

DiNapoli released a third audit yesterday about the racing association, reporting that it did not implement any of the nine recommendations for improved financial health that the state made in 2010.

NYRA runs three horse racing tracks in New York state, including the Aqueduct racetrack in Queens. It also runs racetracks in Saratoga Springs and at Belmont Park in Long Island.

The Aqueduct racetrack is where Cuomo has future plans to build a massive convention center.

But NYRA expects to lose $19.7 million in 2012, DiNapoli said. He also said he’s worried NYRA will mismanage the estimated $48 million in cash it expects to get this year in revenue from new video lottery terminals installed at Aqueduct.

NYRA needs to make critical decisions, DiNapoli said. For example, NYRA has reduced the cost of transporting horses by $92,000 each year, but has not evaluated whether to charge owners when it transports horses between tracks.

“The organization still has much work to do to carry out the reforms we recommended,” DiNapoli said.

Follow Alison Bowen on Twitter @AlisonatMetro



News
Entertainment
Sports
Lifestyle
Local

NYPD launches Twitter account for L train

The NYPD recently launched a Twitter handle dedicated to the L train and its riders. According to @NYPDLtrain, officers went underground Thursday morning to hand…

Local

Bushwick community space offers activists a place to…

A new Bushwick community space offers community activists to meet, create, learn and throw back a few cold ones. MayDay, located 214 Starr Street in Bushwick,…

Local

Activists gearing up for Sunday's "historic" People's Climate…

If all goes according to plan, more than 100,000 people will gather near Central Park West on Sunday morning and march through midtown to raise…

National

New Apple devices include default kill switch

By Marina LopesWASHINGTON (Reuters) - New Apple Inc phones include a theft deterrent system that enables users to lock their devices and wipe them clean…

Movies

Review: Bickering family dramedy 'This is Where I…

A talented cast sits Shiva in the bickering family dramedy "This is Where I Leave You," although it's more sap than yuks.

Movies

Review: Desert-walking movie 'Tracks' would be better as…

Mia Wasikowska walks 1700 miles across Australia's deserts in "Tracks," in a story that defies triumph-of-the-spirit cliches but gets some of them anyway.

Movies

Review: 'A Walk Among the Tombstones' is the…

Liam Neeson's latest thriller actually has a respected source and writer-director, but it's still very much a Liam Neeson thriller.

The Word

The Word: Avril Lavigne not such a Nickelback…

Say it ain't so! After recently celebrating a year of wedded bliss — and showing off a gaudy 17-carat diamond ring to mark the occasion,…

NFL

Eric Decker 'unlikely to play' against Bears: Source

Jets wide receiver Eric Decker's status for Monday night’s game against the Bears is in doubt after he missed practice again Wednesday.

NFL

Preston Parker, not Odell Beckham, will replace Jerrel…

Tom Coughlin noted the next man up will be unheralded veteran Preston Parker.

NFL

NFL Week 3 full schedule (kickoff time, TV)

NFL Week 3 full schedule (kickoff time, TV)

NFL

Fantasy football: Run with Knile Davis, Khiry Robinson,…

Fantasy football: Run with Knile Davis, Khiry Robinson, Donald Brown

Parenting

A sneaky way to serve kids fruits and…

"My First Juices and Smoothies" gives smoothie recipes for kids.

Style

3 things we love from Day 1 of…

The highlights from Day 1 of Milan Fashion Week.

Sex

Why don't more couples use condoms?

  Call it the “condom moment.” That’s the name the authors of a new study have given to the pivotal conversation every couple should be…

Sex

Need an idea for a first date? Here's…

Picture your idea of a nice first date. Is it dinner and a movie? A visit to an interesting museum exhibit? Instead, an expert on…