Belmont wins big on the eve of Triple Crown racing event

in the long term will generate billions in economic activity,” New York Racing Association Vice President of Communications Pat McKenna said in an interview with Blank Slate Media.

No taxpayer money will be used in the bond, which will be paid back with racing revenue over 30 years, according to NYRA. The horse racing industry in New York generates $3 billion in annual economic activity while sustaining 19,000 jobs, according to NYRA.

“NYRA looks forward to providing the kind of world-class venue that both Long Island and New York state deserves,” McKenna said.

A new state-of-the-art facility at Belmont, which was last renovated in 1968, will also guarantee the return of the Breeders’ Cup, thoroughbred racing’s yearend world championships, to Long Island for the first time since 2005.

The project is currently expected to begin following the 2024 Belmont Stakes and be completed by the 2026 race.