Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Belmont Stakes Could Be Canceled Amidst State Budget Problems
By
Ben Muessig
Published Dec 21, 2009
Modified Dec 21, 2009
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Ben Muessig
Published Dec 21, 2009
Modified Dec 21, 2009
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
It's a bad week for New York horse racing fans. First, cops nabbed an 18-year-old suspected of having sex with race horses at a Goshen track, now comes news that the Belmont Stakes might be called off because of the state's monetary woes. According to the Daily News, Governor Paterson and state legislators haven't been able to come to a consensus on a revitalization plan for the racetrack, which will run out of money "in the May-June timeframe," according Charles Hayward, president of the New York Racing Association. The race is scheduled for June 5.
"If we can't make payroll, we have to shut down," Hayward said. "There is certainly a possibility that Belmont may not open and there will be no third leg of the Triple Crown." The racing group is waiting for cash that would come from a plan to install video slot machines at the Aqueduct Racetracks in Queens — which would net an estimated $1 million per day in revenue that would allow the Belmont, Saratoga, and Aqueduct tracks to stay open, while providing long-term cash to the state and $200 million in licensing fees that is needed to close this year's budget in Albany.
But legislators haven't been able to agree on which of the five private firms should run the lottery terminals. The first winning bidder withdrew when the state demanded $370 million upfront instead of in quarterly payments, then casino mogul Steve Wynn backed out because the state demanded that the winning bidder pay at least $200 million within 30 days of signing a contract. "It's a giant mess," said one legislative aide, who declined to predict when the deal — which is eight years in the making — will actually be sealed. "I tell people that on each of our respective death beds, we'll hear that it's imminent."
Tagged
Albany
Belmont Stakes
governor paterson
horse racing
horses
triple crown racing
Ben Muessig
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Forest Hills Stadium can keep its concerts under deal with neighbors
Neighbors had complained of traffic and loud concerts for years.
By
Ryan Kost
Published Oct 22, 2026 at 2:49 p.m. ET
NYC Council to grill Mamdani officials on collapsed Hunts Point Produce Market deal
Council Speaker Julie Menin called the $650 million plan "mission critical."
By
Elizabeth Kim
News
NYC Council to grill Mamdani officials on collapsed Hunts Point Produce Market deal
Council Speaker Julie Menin called the $650 million plan "mission critical."
By
Elizabeth Kim
NYPD arrests 17-year-old in fatal Midtown subway platform shooting
By
Charles Lane
Ex-Adams aide accused of pocketing kickbacks from community program funds
By
Samantha Max
MTA to begin 6-year project to upgrade signal tech on A and C lines in Brooklyn and Queens
By
Ramsey Khalifeh
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .