NYC OTB Sets Aside Money

To All Breeders, Owners and Stallion Owners:

Late this afternoon, NYC OTB alerted us that it will be sending a final check to the New York State Thoroughbred Breeding and Development Fund in the amount of $1,043,000. That amount is about $500,000 less than we expected to be repaid, and represents about 90% of what NYC OTB believed it owed us.

What does this mean to breeders? It means that 100% of the 20% “special withholding” applied to your horse’s earnings in the second half of 2010 will be repaid to breeders early next year. It also means that roughly 90% of the 30% withholding that applied to all earnings across the full year will be repaid for 2010.

We plan on sending out those payments in the first week of February 2011.

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