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Goodbye New York City OTB?
April 14th, 2010

Gov. David Paterson is blaming legislators for what looks like will be the end of bankrupt New York City Off Track Betting. Paterson submitted legislation that would have kept the entity on life support for the time being but the legislature left town after session today without acting on the bill and is not expected back until Monday. The OTB was set to layoff thousands of workers least Sunday but the action was delayed to allow negotiations to take place. Those negotiations seem to have collapsed.

Here is Paterson’s statement.

Today, after weeks of intensive negotiations with Senate and Assembly leadership, I submitted agreed upon legislation that provided for an interim solution to keep New York City Off-Track Betting Corporation (NYCOTB) operating. This plan included no additional commitment of taxpayer dollars. However, the Legislature adjourned before acting on the bill.

The Board of Directors of NYCOTB resolved to cease operations no later than close of business April 18, absent action by the Legislature to solve the Corporations immediate cash flow problem by making adjustments to payments to the industry. Given that stakeholder disagreement prevented this legislative action, I expect the board will carry out its planned shutdown as reflected in its resolution.

Consequently, the closure of NYCOTB will have a profound impact on the 1,300 employees and their families. I am deeply saddened that we could not find a workable solution during this fiscal crisis to save any of these jobs.

I will continue to work with my legislative partners and the stakeholders to keep racing viable in New York State.

By on April 14, 2010, 5:04 pm
In category: Albany,Eye on Albany | 3 Comments »

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3 Responses to “Goodbye New York City OTB?”

  1. Larry Littlefield Says:
    April 14th, 2010 at 6:12 pm

    Space is scarce in New York in most economic situations. I wonder if the businesses that might occupy the OTB locations might hire 1,300 workers.

  2. leonard euler Says:
    April 14th, 2010 at 7:47 pm

    David Patterson should have called the lawyer for the State of NY Andrew Cuomo and asked him for a formal opinion as to whether NY PML Sec 105 applies to the OTBs and/or is constitutionally defensible. The fact that NYC OTB and the State of NY ignore the plain meaning of the law, NY PML Sec 105, so that we can go bet on Palm Sunday and Easter Sunday(s)
    at OTBs on races being run outside of NY shows that these guys don’t care about anything but themselves.

    The Gambling Party should run candidates for office on the following platform
    1 amend the NY Const. to allow the State to take action on the Super Bowl, NCAA, World Cup etc.
    2. sue the feds as needed, use Mark Mendel Esq. of Texas/Cork as a lawyer.

    We need only look at Singapore and the State of Kansas to see that government should be able to run gambling operations.

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    May 16th, 2010 at 4:57 pm

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