Dire Predictions
Should IRS claims that NYRA owes $1.6 billion in back taxes prevail, Paul Moran sees a grim future for racing:
Frank Stronach would flee to Canada, riding The Green Monkey across the Peace Bridge to Fort Erie … Just before turning off the lights, the New York Racing Association, Churchill Downs and Magna Entertainment sell the rights to the Kentucky Derby, Preakness and Belmont Stakes to the Maktoum Family, which announces that the Triple Crown will continue uninterrupted at Nad Al Sheba … [Saratoga] adopts the slogan: “Birthplace of the potato chip.”
The IRS asserts that NYRA owes taxes on gross handle, not takeout, a claim that could have (seriously) devastating consequences not only for NYRA, but racetracks across the country. More over on Left at the Gate.
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