"Horse racing in New York has been propped up by more than $2.9 billion in state taxpayer dollars and government-directed benefits since 2008, a Times Union investigation has uncovered. That’s more than twice the money New York budgeted for the state Department of Agriculture in the same time period, and 13 times what it spent on veterans’ services." -Times Union

"Still, New York’s comptroller reported in audits in 2016 and 2018 that the organization [NYRA] continued to produce multimillion-dollar annual deficits. In both years, the comptroller also recommended that the nonprofit not use its alternative accounting method to calculate publicly shared operating profits or losses; the comptroller said NYRA had done that on a few occasions."

“Reporting such numbers to the general public and to the NYRA board in this way is not a fair presentation of the profitability of NYRA’s racing operations, and can leave decision-makers with the false impression that no actions are required,” Comptroller Thomas DiNapoli wrote" -Times Union

“VLT funds are directed to important capital improvement projects at all three tracks to enhance the quality and safety of racing operations, improve the fan experience and modernize residential housing for the NYRA backstretch community,” McKenna said. “These are investments in the future of Saratoga Race Course, Belmont Park and Aqueduct Racetrack that will benefit New York racing for decades to come and increase the value of these New York state-owned assets.” - Times Union

[Racing's narrative is that the hundreds of millions of past capital support dollars have improved the state assets of Belmont and Aqueduct.  All those costly improvements will now be bulldozed to the ground.]

"John Matarazzo, director of racing operations at the Saratoga harness track at Saratoga Casino Hotel, said roughly 88 percent of the purses at his track are paid for by the video slots funds." - Times Union

“The horse racing industry runs on a pack of lies, a bunch of swindles, hidden information, and many corrupt and illegal activities for the love of money, not for love of the horse.” 

-Mark Berner, pro-racing writer HorseRaceInsider

“Governor upon governor, regardless of party, has determined that the return on that investment is greater than any subsidy,” said Senator Joseph Addabbo, chair of the Senate committee that oversees horse racing."  -New York Focus

[Except the NYS has never verified any of racing's job data or economic impact.]

"Despite its large investments in racing, the state has not conducted a study of the jobs produced by horse racing or its economic impact, a spokesman for the Gaming Commission said." - Times Union

"The franchise agreement also transferred ownership of Saratoga, Aqueduct and Belmont from NYRA to the state, which agreed to pay the local real estate taxes for the properties.

Since 2008, the state has paid more than $404 million in taxes for the three tracks, according to data from local and county taxing jurisdictions.

In contrast to NYRA’s $1 per year track leases, the state charges New York Arena Partners $2.24 million annually to lease part of the Belmont Park property, where a new arena for the New York Islanders and retail shops operate. The arena partnership makes “payments in lieu of taxes” to municipal agencies, according to a spokeswoman for the Empire State Development Corp.

NYRA is also exempt from paying state and New York City income taxes, but pays payroll and federal income taxes.

The 2008 agreement with NYRA said the nonprofit would pay the state an annual franchise fee equal to the lesser of either its adjusted net income or operating cash. NYRA has never paid a franchise fee to the state since the agreement was signed, according to the state.

The state also forgoes millions in tax dollars from sales tax exemptions for the training and maintenance of race horses and the sales of race horses. The Department of Taxation and Finance estimates that the state passes up $5 million annually by exempting the training and maintenance of race horses; it has no estimate for the exemption on the sales of race horses."  -Times Union