Even though New York State is supposed to be giving lottery money towards schools and education, a deal made seven years ago has actually made sure that over $200 million was given to the New York Racing Association (NYRA) instead.
The NYRA, which is probably most famous for the Belmont Stakes, owns the Belmont Racetrack, the Saratoga Springs Racetrack and the Aqueduct Racetrack. They filed for Chapter 11 Bankruptcy in 2008 and after an overwhelming negotiation between the state and the NYRA, the NYRA prevailed.
“As this deal was being made, New York state was in the process of dramatically cutting education, leading to 30,000 job losses — roughly 22,000 in teachers,” Carl Korn, a representative for the union of NYS teachers, told Buzzfeed. “And what is most outrageous is the poorest districts were hit with a disproportionate amount of these cuts.”
