The New York Racing Association, which Earle Mack is a board member for, held several times a year in New York City. The board analyzed financials and stated goals for increasing the prosperity of the racing industry in New York.
Mr. Kay reported on his first seven weeks as NYRA’s CEO and President. Discussed were interactions with various stakeholders, members of the public, and members of the media, over the past two months. Also discussed were three priority areas that NYRA will focus on:
1. Enhancing guest experience
2. Improving quality of racing
3. Preparing the corporation for re-privatization
As part of Mr. Kay’s guest experience report, he introduced Patrick Connors, Chair of the NYS Fan Advisory Council. Mr. Connors discussed that the Council’s primary tasks are to recommend changes to the NYS Gaming Commission and to recommend policy changes at the track level to enhance the fan experience — all as set forth inthe Council’s 2012 report.
The chairman of the board, Dr. Skorton, gave an update regarding the account deposit wagering business contract. Dr. Skorton requested a meeting of the Executive Committee and the Chairs of the Finance and Audit and Compliance Committees to review the results of the ADW RFP. On behalf of the Board, Dr. Skorton thanked Ms. Stover, Mr. Kozak, and Mr. O’Rourke for leading the corporation during the CEO search
The Chief Financial officer, Ms. Stover, provided the financial update. Ms. Stover gave the report of the second-quarter results and year-to-date results. At the request of Mr. DelGiudice (Chair of the Nominations and Governance Committee), NYRA prepared an executive summary of the financial results. It was discussed that a more detailed version of the financial report was provided during the meetings of the Finance and Audit and Compliance Committees. Ms. Stover thanked KPMG for its second quarter review of NYRA’s financial statements.