ALBANY, N.Y. — Belmont, Saratoga and Aqueduct will stay open after New York's Thoroughbred racing operator received a $25 million loan from the state.

The New York Racing Association's loan is part of a measure to extend basic state government operations in the absence of an approved budget for this year. It would have to be repaid by March 31 or within 30 days of a state agreement with a contractor to install video lottery terminals at Aqueduct.

The Senate and Assembly approved the bill late Monday and Gov. David Paterson signed it. Spokesman Morgan Hook said the money won't be sent at once but no races will be canceled.

Stately Victor works at Churchill Downs

LOUISVILLE — Stately Victor, winner of the Grade I Blue Grass Stakes at Keene-land and eighth behind Super Saver in the Kentucky Derby, tuned up for his expected run in the Belmont Stakes with a sharp five-furlong workout on Tuesday at Churchill Downs' Trackside Louisville training center.

Stately Victor zipped over a fast track to cover the five furlongs in :59.40 in the only work at that distance with splits of :11.60, :22.80, :34.20 and :46.80. He galloped out six furlongs in 1:14.20.

Trainer Mike Maker timed the work a bit slower on his stopwatch, but was happy with the effort. He said the colt would ship to New York's Belmont Park on Thursday for final preparations for the 1½ -mile race.

"Time doesn't mean anything to us, it doesn't mean anything in the race," Maker said. "He's happy and he did it the way he always works, so we're pleased."

Stately Victor is scheduled to work at Belmont next.

"Hopefully we'll draw an outside post, just slap him on cruise control and grind it out," Maker said. "I thought he ran a credible race in the Derby and I think you throw him out at your own risk."