VLT money appears to mean a big turnaround financially for NYRA in 2012. The organization is predicting a nearly 200 percent increase in net revenue. Our C.J. Spang has details.

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SARATOGA SPRINGS, N.Y. -- The Saratoga Race Course is already one of the premier places in the thoroughbred industry. But if NYRA's predictions for 2012 are correct, the Spa could be even better and local businesses could reap the rewards as well.

"I think we're all excited by what NYRA is proposing to do at Saratoga this year," said Saratoga County Chamber of Commerce President Todd Shimkus. "I think particularly with respect to purses, you're going to see more horses, the best horses, the best jockeys, the best owners. That means the best crowds we've had quite some time."

NYRA's proposed budget shows a profit of nearly $19 million this year. According to a statement released by NYRA, almost $18 million of that will come from the effects of VLTs at Aqueduct. At Saratoga, NYRA is predicting a nine percent increase in handle, a six percent increase in field size and a nearly 34 percent increase in purses.

In a statement, NYRA said, "We are very bullish on the future of thoroughbred racing and breeding in New York. We believe the racing and breeding industries will prove to be a powerful economic engine for the state and certainly expect to continue growing the business in the years to come."

But some local leaders are taking a more cautious approach to NYRA's optimistic numbers.

"I think everything's speculative," said Assemblyman James Tedisco. "I don't think any citizen, elected official or legislator or the budgeters themselves should take this as hard and fact figures and numbers. You always have to be vigilant to see how the numbers change how the mood changes with our economy."

NYRA's budget does say its numbers are not fact or guaranteed. But people do believe the numbers indicate things are moving in the right direction.

"I think this is the start of the renaissance of racing," Shimkus said. "I think this is the start of something special. 2013 is the 150th anniversary of the Saratoga Race Course, so I think we're in a fortunate position that in 2012, we'll have a profitable year as we head into that huge community celebration that's going to take place in 2013."

NYRA also believes it will be stronger than the rest of the racing industry this year, predicting a five percent decrease in wagering on U.S. races, but a nearly nine percent increase in wagering on NYRA races.