NYRA release

ELMONT, N.Y. – The Board of Directors of The New York Racing Association, Inc. (NYRA) announced Friday, May 4, that it has decided to terminate the employment of NYRA President and CEO Charles Hayward and NYRA Senior Vice President and General Counsel Patrick Kehoe, effective immediately.

C.Steven Duncker, the Chairman of NYRA’s Board of Directors, stated that the Board’s decision was based on a determination that these executives failed to perform their duties at a level required by the Board.

Duncker noted that there are ongoing governmental inquiries relating to the circumstances surrounding the takeout issue, that NYRA was cooperating with those inquiries, and that NYRA expects that those inquiries will thoroughly and fairly investigate the matter.