Cash flow crunch threatens Belmont Stakes

The New York Racing Association (NRYA) says it is facing a cash crunch that could threaten the Belmont Stakes and thoroughbred horse racing\'s Triple Crown, because the state government still hasn\'t approved video slot machines at the Aqueduct racetrack.



NYRA President, Charlie Hayward says that unless state lawmakers agree to allow video slot machines soon at Aqueduct, the NYRA may need another $30 million bailout from the state to save the racing season at Belmont, which includes the final leg of the Triple Crown.



Such threats have been made before by the private group, which runs thoroughbred racing and state tracks under a franchise.



However, Hayward insisted the NYRA is down to about $11 million in cash, $4 million short of projections, because of a debt owed by the New York City Off-Track Betting Corp., which also has been perennially troubled.