NYRA Details Belmont Park Reconstruction, Business

Ahead of the Sept. 18 reopening of a redeveloped Belmont Park, New York Racing Association officials updated the New York Franchise Oversight Board on reconstruction at Belmont Park and other NYRA business matters during a July 31 meeting in Saratoga Springs, N.Y., that was also streamed online. Officials said the first phase of the rebuilt Belmont Park remains on schedule for a resumption of racing there in about seven weeks, with the "Backyard" paddock area and two public levels opening while construction continues on the upper portions of the grandstand as part of the projected $455 million redevelopment. NYRA plans a long-intended phased rollout, gradually bringing additional dining areas, suites, and hospitality spaces online. Attendance initially will be capped at approximately 6,000 fans. The goal is to have the facility fully completed in time for the Wood Memorial Stakes (G2) early next April, NYRA CEO and president Dave O'Rourke told the board. Belmont's signature race, the Belmont Stakes (G1), returns to Belmont Park in 2027 after spending three years at Saratoga Race Course while the bulk of reconstruction was underway. Belmont Park also hosts the Breeders' Cup next fall. Board members also received updates on improvements throughout the grounds, including new permanent restroom facilities, expanded food-and-beverage offerings, upgraded video boards, improved walkways, and enhanced gathering spaces designed to elevate the fan experience. Officials noted Belmont's synthetic training surface and renovated racing infrastructure have performed well during periods of heavy rainfall, allowing horses to remain on schedule while minimizing weather-related disruptions to training. Going forward, when racing is not underway upstate at Saratoga, Belmont Park will be NYRA's exclusive downstate Thoroughbred racing venue. In reviewing Aqueduct Racetrack, which conducted its final race in late June and ultimately will be redeveloped for non-racing purposes, NYRA officials discussed the long-term transition tied to Belmont's reopening and the repurposing of portions of the Aqueduct property. That includes reusing seats and dirt "cushion" from Aqueduct's main track, said Glen Kozak, NYRA's executive vice president of operations and capital projects. Officials also detailed significant investments in backstretch dormitory housing, expanded Wi-Fi connectivity, disability-compliant medical facilities, upgraded emergency call systems, perimeter security fencing, stormwater management, and fire prevention infrastructure. Fiber-optic systems supporting both communications and fire safety continue to be expanded, while drainage improvements are designed to better withstand increasingly intense rain events. Financially, NYRA reported total year-to-date all-source handle through June 30 of approximately $955.9 million, $62.1 million below budget projections and trailing last year's wagering. Renee Postel, NYRA's senior vice president and chief financial officer, attributed a $32 million decline to reduced computer-assisted wagering following tax law changes and internal policies limiting late-cycle algorithmic betting. Weather-related racing cancellations also contributed significantly to the decline in handle, she said. New York racing also experienced short fields at times this year, particularly during the colder months. Officials expect the addition of a synthetic racing surface at Belmont Park next winter to improve field size. Deeper fields typically lead to increased wagering. Although NYRA's restrictions on CAW play have reduced overall handle, officials said they have significantly curtailed late odds fluctuations. NYRA has emerged as the industry's leader in addressing high-volume computer-assisted wagering that can flood betting pools with wagers in the final seconds before post time. "Somebody had to be the test case on this, and that's us," O'Rourke said. He said NYRA is seeing evidence of increased retail participation and healthier wagering pools. "We're committed to this path," he added.