Belmont Day and General admission

[Wrongly]

Here you go Frank
http://www.almanac.com/weather/longrange/NY/Elmont
Calls for showers as well, too funny.  T.

[FrankD.]

That is too funny!

Now all we need is a crystal ball for the superfecta because the over 16.5 on number of alcoholic beverages consumed by Richiebee at Living Room Downs that day is a lock.

[Topcat]

FrankD. Wrote:
-------------------------------------------------------
> Top,
>
> Get your Black Hawks going so we can have an
> original 6 final again this year!
> Awesome game last night. Let\'s GO Rangers.


Get one, either way! . . . Game Two was the epic tragedy . . . tough to repeat in this league, especially with side bucking last-season postseason revenge . . . maybe the line-juggling helped, but Quick\'s a bear.  #Vasko

[belmont3]

Mike,

regarding the NYRA loss of $10 million.

are all the figures published for public consumption?

If so, what are the cash flows.
Cash flow a better indication of the health or sickness of an underlying business.
Companies that are capital and/or real estate intensive often have quite a bit of depreciation on the income statement.

Bob

[miff]

Belmont,

Believe NYRA puts up quarterly results on website but did not look. Actually heard from a NYRA person, should be accurate.


Mike

[Caradoc]

Go about halfway through the link and the first quarter financials are reproduced.

http://www.nyra.com/assets/4/7/BOD_Meeting_Packet--May_28_2014_revised_with_CKK_report.pdf

[belmont3]

Thanks for the link.

At quick glimpse, the quarterly loss was 1.202.085.
Depreciation expense --------------------1,179,125

Hence, based on depreciation alone, cash flows are about break even. About a $22,00 loss.

Not as dire as it looks.
Since you spurred my interest, I will try to get a hold of their complete reports and do a bit of work on them.

Bob

[miff]

Bob,

It\'s far more dire than it looks, sans slot subsidies. Gov Cuomo has signaled that he would not insist on NYRA operating without subsidies but politicians are known to change like the weather.Without subsidies,NYRA is financially dying now given pension liability,a host of issues including unfunded vital capital projects and unsettled union contracts.

Several interested parties commissioned consultants to look at the viability of offering to take NY racing private, not one came back a \"buy\"

Would love to see your financial analysis of the numbers without ongoing slot subsidies.If they make any sense going forward, maybe we can put a group together to buy the joint and rescue it from the Clueless Clowns and politically appointed stooges!

Mike