Gural Hopes for Quick Reopening of Vernon Downs

VERNON, N.Y., Feb. 10 /PRNewswire/ -- The state Assembly's Racing and
Wagering committee failed to vote last Tuesday in favor of the tax-relief bill
that would allow Vernon Downs to keep more of its revenue. Increased revenue
would enable Vernon to make capital improvements and offer more give-backs to
our customers. Since the assembly has been promising to pass legislation
addressing this issue for over eight months and had once again failed to
deliver, Jeff Gural, principal owner of the local racino, ordered the gaming
facility closed effective at 1:00 a.m. today.
Gural has said that the closing is temporary and the racino will be
reopened as soon as the legislature votes in favor of the bill which was
originally intended to give all eight racinos in the state $60 million more in
additional revenue. "My hope is that the legislation can be worked out quickly
so that our employees can come back in a number of days rather than a number
of weeks," said Gural on Sunday from his New York City home. "This uncertainty
puts a terrible burden on our employees and their families. It's unfortunate
that the large tracks, namely Saratoga, Yonkers and Finger Lakes made
unwarranted last minute demands which stopped the legislative process cold,"
he continued.
The closing today forced Vernon Downs to temporarily lay off dozens of
workers. Employment during racing season totals around 300 employees but in
the winter months just over 200 people work at the hotel, gaming and racing
complex.
Beginning with today's closure, Vernon Downs will forfeit revenues at the
racetrack to the tune of about $150,000 per week in total simulcast racing
handle and about $500,000 per week from gaming at over 750 video gaming
machines. The Hotel at Vernon Downs will remain open to serve guests on a
daily basis.
SOURCE Vernon Downs

Douglas A. Tudman, Regional Director of Marketing for Vernon Downs,
+1-607-372-1180, dtudman@tiogadowns.com