Holliday Reflects on Guiding NYRA Into New Era

Marc Holliday is surely the Man of the Times for the New York Racing Association. During a crucial period in its history when NYRA's long-term future is being shaped by the construction of a new Belmont Park, the not-for-profit organization could have no better person as its chairman of the board of directors than an industry leader in building and real estate such as Holliday. Since being appointed as the head of board of directors in December 2021, Holliday has played a vital role in NYRA's securing a $455 million loan from New York State to finance the project as well as the drafting of plans to turn the cavernous Belmont Park facility into a smaller, state-of-the-art Long Island home for racing with modern amenities to please horsemen, fans, and the local community. Holliday's expertise, as well as a large network of business and political contacts, comes from working as the CEO of SL Green, which is regarded as the largest owner of commercial real estate in New York City, since 2004. One of New York's most respected business leaders, Holliday has also been active as a Thoroughbred owner since 2007 through his Blue Devil Racing Stable. Over the course of those 18 years, Holliday's stable has accounted for slightly more than 150 wins and earnings of $8.2 million while campaigning the grade 1-winning mare Come Dancing. Elected as a steward of The Jockey Club in July, Holliday also worked with NYRA to bring the Breeders' Cup to Belmont Park in 2027, which will mark the first time since 2005 the series will be contested at the famed mile-and-a-half oval in Elmont, N.Y. With Belmont Park scheduled to re-open in the fall of 2026, Holliday addresses several important issues facing NYRA in the following question-and-answer interview with BloodHorse. BloodHorse: Before we get into some other areas, what was your reaction to the jockey walkout at Aqueduct? It generated considerable coverage and attention last week. Marc Holliday: I was disappointed at the lack of professionalism that was displayed by the jockeys involved in the walkout. Their actions negatively impacted the owners and trainers who choose to do business here in New York, and penalized bettors who handicapped the card. The issue they cited was a relatively simple procedural change added as an integrity measure. They additionally raised several other unrelated issues, but NYRA is not going to compromise when it comes to the integrity of our racing operations. BH: You have been directly involved in the Belmont Park project for many years and bring the perspective of a builder to your role as NYRA chairman. How is it going at this point with the facility set to reopen in September? MH: It's going great! This is a large, complex, and multi-year project. When you factor in the construction of an entirely new racing infrastructure, premium hospitality, and quality of life improvements we are making to the backstretch, the scope of the overall construction is unprecedented for a horse racing facility in the United States. The fact that we are on schedule for a September reopening speaks to the skill and expertise of everyone on-site under the leadership of (NYRA CEO and president) David O'Rourke and the NYRA management team. We are building a modern grandstand that will stand the test of time and immediately take its place among the world's finest and most distinctive sports venues in the world. While the new glass curtain wall building is the centerpiece of the project, it will be complemented by an expanded backyard that will put the park back in Belmont Park alongside a reimagined paddock area and the kinds of amenities that fans deserve from world-class sports and entertainment destinations. New York Governor Kathy Hochul has believed in our vision for the future from the beginning, and she deserves an enormous amount of credit for recognizing the importance of Belmont Park and the horse racing industry to this state. Outside of the building, we are reimagining the property and designing a venue where family, friends, and the community will gather together to make memories for generations to come. As the governor said at the topping out ceremony in October, we are ushering in a new era for horse racing in New York. BH: What do you like most about the new Belmont Park and what do you believe fans and horsemen will enjoy the most about it? MH: The building itself is certainly an intentional departure from the prior design, and it's going to appeal to both new fans and regular customers. By constructing a contemporary facility that will offer incredible views of the four new racing surfaces, we are creating an environment that will be exciting and dynamic whether it's a weekday in October or the Belmont Stakes (G1) in June. The new building will allow for an abundance of natural light and provide impressive sightlines of the paddock, racetracks, and overall property. When it comes to the modern amenities, we are talking about the elevated food and beverage, of course, but also the level of service provided the moment a fan steps through the gates. David O'Rourke and his team have been laser-focused on that customer experience from the beginning of this process because it is a differentiator and transforms an afternoon at the track into a complete entertainment experience. As a horseman myself, I think these new racetracks will be the best racing surfaces in the country. These are not just renovations to existing surfaces, but instead we have taken the time to completely rebuild the main track and turf courses while adding a Tapeta surface for the first time in NYRA's history. Every detail has been considered and thoughtfully addressed by (NYRA senior vice president for operations and capital projects) Glen Kozak and his NYRA team, and the result is going to be spectacular. BH: In addition to the chairmanship of the NYRA board, you were elected as a Jockey Club steward in July. Can you talk about both roles and why you are interested in these types of positions? MH: First of all, it's a privilege and an honor to serve as NYRA chairman. We take seriously our role in helping to shape the future of the most important racing organization in the country. The history of racing in New York speaks for itself, and it's our responsibility to protect that tradition while ensuring future success. That's why the new Belmont Park is such a critical piece of our overall vision. And it's why we are continuously focused on competitive racing, integrity, equine safety, and improving the quality of life for the backstretch community. I am going to offer that same set of priorities in my new role at The Jockey Club. Not unlike NYRA, The Jockey Club is an institution that has been vitally important to the sport since its founding. As horse racing itself has evolved and changed, The Jockey Club has continued to zero in on the fundamental issues to drive positive changes for the benefit of everyone involved in racing. This has been true since The Jockey Club was founded in 1894 and remains true today. With regard to medication and safety reforms, The Jockey Club was instrumental in the establishment of the Horseracing Integrity & Safety Authority. And under HISA's regulatory regime, equine fatalities nationally have been reduced to the lowest rates we have seen. There is always more to be done, but HISA is having a real and lasting impact. Beyond that, we are deeply involved with how best to utilize the technology platforms and data owned by The Jockey Club to both serve industry stakeholders and help grow the sport. BH: As an owner, you are aware of the high costs of racing in New York. What can be done to lower costs and make New York more competitive with a circuit like Kentucky? MH: Obviously, one of the big challenges is that housing downstate is expensive when you are talking about Nassau County and all of New York City. The price of labor in Kentucky is significantly less, as we often hear from trainers, than here in New York. There's very little any individual track or business can do about these broader economic realities, but we can take steps to ease the burden. For example, NYRA already provides housing for up to 1,000 backstretch workers—which is unprecedented—and is looking at expanding housing at Belmont for assistant trainers and others. This is something that has never really been done before in scale. We also work closely with the New York Thoroughbred Horsemen's Association on how to reduce the costs for the various items that are required to run a training operation. And we need to provide trainers and their clients, the owners, with excellent and memorable experiences on-track to really emphasize the value of running in New York. That's exactly what we will do at the new Belmont, where the racing and training facilities will also be fantastic. BH: How do you view the impact Computer-Assisted Wagering players have on wagering and what can be done to limit it? MH: In 2021, NYRA became the first racing organization in the United States to establish a timing restriction for CAW play specific to the win pool. The measure has successfully eliminated dramatic late odds fluctuations and has become a model followed by racetracks outside of New York. In addition to NYRA's win-pool policy, our late Pick 5 and Pick 6 pools are reserved for the retail player only. These actions represent an approach designed to achieve a sustainable and healthy balance between professional gamblers and the wagering public. To do that, it is incumbent on NYRA and the industry to take steps to increase transparency, reduce late-stage odds volatility, and enhance pool liquidity. We are working alongside other industry stakeholders on this matter, and you will hear more from us on the topic in 2026.