ELMONT, N.Y. -- The New York Racing Association's Board of Directors has terminated the employment of NYRA President and CEO Charles Hayward and Senior Vice President and General Counsel Patrick Kehoe.
In a statement, the board said the two "failed to perform their duties at a level required by the Board" and that the decision is effective immediately.
NYRA's board chairman also noted that they are cooperating with the ongoing governmental investigation surrounding the takeout issue.
This announcement comes only days after the two were placed on administrative leave following the release of the state Racing and Wagering Board's report that suggested NYRA knowingly withheld millions of dollars from winning bets.
The report shows that NYRA withheld $8.5 million over a 15-month period beginning in September 2010 and that it kept information from the public.
Hayward has been president of NYRA since 2004. He served on the NYRA Board of Trustees from 1995 to 1999. Before presiding over NYRA, Hayward was the president and CEO of the Daily Racing Form. He is a resident of Manhattan and Saratoga Springs.