NY casino boosts thoroughbred breeding fund

Paulick Report

Aqueduct’s racino is to credit for more than $6 million being added to the state’s thoroughbred breeder award program this year. State Comptroller Thomas DiNapoli released an audit on Friday that states that Thoroughbred Breeding and Development Fund revenues are expected to total $17.3 million in 2012 compared to $10.9 million in 2011. The increase has given New York’s racing and breeding industries a significant boost.

“We’re one of two states whose foal population has gone up,” Fund Executive Director Tracy Egan told The Troy Record. “In January, 600 new pregnant mares came to the state. Many high-quality mares and stallions have come to New York, too.”

The fund gives around 1,000 awards annually to breeders, owners, and stallion owners. Previously the fund’s revenue mostly came from New York Racing Association commissions that totaled $8.1 million last year plus a share of video lottery terminal profits from Finger Lakes Casino & Racetrack. With the opening of Aqueduct’s casino, the fund adds 1.25 percent of the net win from the casino on to the other revenues.