NYRA President & CEO CHRIS KAY has submitted his "resignation, effective immediately," in a "stunning development," according to David Grening of the DAILY RACING FORM. Sources said that the NYRA BOD "asked for Kay’s resignation after it learned that Kay had used NYRA employees to do private work for him at the house he owns in Saratoga, considered a breach of company policy." NYRA Senior VP & CRO DAVID O'ROURKE has been appointed interim President & CEO. While it is being "termed a resignation, it was clearly not Kay’s decision to leave." Kay, a former exec at Toys "R" Us and Universal Parks & Resorts, was hired in '13 when NYRA was "under state control after it was revealed NYRA had been overtaxing its bettors." Kay "helped NYRA show its first operating profit in 13 years," and the organization has "shown a profit from racing operations for all five years of his tenure." This resignation comes at a "critical time for NYRA," as Kay had talked about a "major renovation of Belmont Park that was to coincide with the construction of a new arena" for the Islanders (DRF.com, 1/23). BLOODHORSE's Bob Ehalt noted aside from the "impending construction at Belmont Park, Saratoga Race Course has undergone significant changes during Kay's tenure, with the opening last year of a new seating and dining area called The Stretch and the scheduled debut this summer of the 1863 Club on the Spa's clubhouse turn" (BLOODHORSE.com, 1/23).
