Yonkers: SOA of New York, MGM Yonkers announce contract agreement

The Standardbred Owners Association of New York ("SOANY") and MGM Yonkers, Inc. ("MGM Yonkers"), owner and operator of Empire City Casino and Yonkers Raceway, are pleased to announce that they have reached agreement on a contract which will govern racing at the historic Yonkers Raceway oval through May 31, 2025.

"Yonkers Raceway is the premier harness track in the State of York and has the highest overnight purses of any track in the United States," said SOANY President Joseph Faraldo.

"With this new deal in place, racing opportunities will not only continue, but will be expanded, with 240 dates in each of the contract years (up from the current 234) which will help make up for some of the losses and hardships sustained by owners, trainers, drivers and grooms during the pandemic," added Faraldo. "The contract contains important protections for the horsemen with respect to racing conditions (including a segregated purse account and a procedure that will involve the horsemen in any decisions regarding cancellations of racing), provides for the resumption of Saturday night racing during the summer (starting in 2022), ensures continued financial support by the track for the world-renowned MGM Yonkers International Trot and also provides enhanced assurances regarding purse levels in the event a full casino license is awarded to MGM," concluded Faraldo.

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"The contract also provides essential funding for the horsemen's health insurance and retirement benefits which are available to eligible trainers, drivers and, unique to the SOANY's long-established programs, to our hard-working grooms, all of whom are collectively responsible for making racing at Yonkers possible," indicated Peter Venaglia, SOA First Vice-President and Chairman of the Board of Trustees of the SOANY.

"Since acquiring the property, MGM Resorts has made significant investments in the sport of harness racing and continues to do so in this contract with the SOANY," said MGM Resorts Northeast Group SVP and Chief Financial Officer Ed Domingo. "We continue to demonstrate our commitment to upholding the legacy of Yonkers Raceway as one of the premier harness racing venues, not only in the United States, but in the world."

The SOA has pledged its full support of MGM Resorts' efforts to secure a full-scale casino license for Empire City Casino, which will create more than ten thousand direct and induced jobs while generating more than $1 billion in economic impact for the region. Once a full-scale casino license is obtained and gaming commences, MGM will provide the horsemen, at a minimum, 2019 purse levels with annual increases for inflation. In fiscal year 2019-2020, MGM Yonkers generated over $50 million in funding for purses for the Standardbred Owners Association, leading to the highest harness racing purses in the country.

"MGM Resorts is a world-class global hospitality and entertainment company with operations around the world," said Domingo. "We are proud to be in New York and look forward to bringing the MGM Resorts brand of excellence and excitement to this property."

Live harness racing takes place at the historic Yonkers Raceway Monday through Friday with a nightly post time of 7:15 p.m. Onsite wagering and simulcasting have returned. Yonkers Raceway is open 7 days a week with nighttime simulcasting Monday through Wednesday from 6:00 p.m. to 11:00 p.m., along with day and evening simulcasting Thursday through Saturday 12:00 p.m. to 11:00 p.m. and daytime-only simulcasting Sundays 12:00 p.m. to 6:00 p.m.

Empire City Casino by MGM Resorts operates daily from 10:00 a.m. to 6:00 a.m. For more information on Empire City Casino, along with the latest updates, please visit www.empirecitycasino.com.

-edited release (MGM Yonkers)