New York Focus: Kathy Hochul Bets Half a Billion on Horse Racing. Will the Industry Pay Her Back?
“GOVERNOR KATHY HOCHUL’S proposed budget would guarantee a nearly half billion dollar windfall of public money to New York’s troubled horse racing industry.
She says New York taxpayers will be reimbursed in full: Over 20 years, race track operators would pay off the $455 million loan to renovate the Belmont Park race track on Long Island, plus interest. But the industry is losing tens of millions of dollars every year. How will it pay the state back?
With money the state gives it.”
Read the full story at New York Focus.