N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 214

§ 214. Acquisition of racing facilities. Any franchised corporation\ndesiring to acquire racing facilities, including real estate, or the\ncapital stock of one or more racing associations shall apply to the\nfranchise oversight board for approval of such acquisition. If in the\njudgment of such board the public interest, convenience or necessity and\nthe best interest of racing generally will be served thereby, such board\nshall enter an order granting approval of such acquisition and of the\nterms thereof.\n