Gambling up and attendance down in NYRA's second quarter
The second quarter of 2013 for the New York Racing Association saw total handle increase by four percent and attendance drop 12 percent.
Total handle during the quarter, which included 15 days of the Aqueduct meet and 47 days of the Belmont meet, exceed expectations by $15.7 million, according to information compiled in advance of Wednesday's meeting of the NYRA Board of Directors. Gambling increased four percent on NYRA races during this period, which was responsible for a 1 percent increase overall on American races.
The meeting book for Wednesday's board of directors meeting is available below.
For the first six months of the year, NYRA's net income was $8.2 million, which was two percent higher than the net income at this point last year and is 28 percent higher than projected in the budget. The favorable number, according to information in the meeting book, is due to increase VLT revenue and decreased non-operating expenses.
The board is expected to approve the charters for some of its committee, including the compensation committee. It's responsibilities are below:
1. Review CEO compensation for the year and any increase and bonus.
2. Develop goals for the following year by which to determine the CEO’s performance.
3. Review salaries of the CEO’s direct reports based on recommendations made by
4. Review annually the compensation plans in place for other employees, including
5. Review plans for the development of the skills and expertise of the organization’s
Follow @poozer87 on Twitter.