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State approves $25m loan for cash-strapped NYRA

26th May 2010 7:07 am GMT

In a huge boost to horse racing in New York, the state's legislature has approved a $25m loan to the New York Racing Association (NYRA) which guarantees thoroughbred racing at Belmont Park, Saratoga Race Course and Aqueduct Racetrack until next year.

New York Governor David Paterson yesterday signed a bill approving a $25m loan to the NYRA after the state legislature passed the bill Monday. The loan must be repaid by March 31st 2011 or within [...]

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