New York's top fiscal watchdog said payments to racetracks, competition from advance deposit wagering entities, and sharply rising simulcast fees are contributing to increasingly perilous finances at five OTB corporations.
The New York Racing Association, as expected, backed down from its refusal to cooperate with a review of its finances by the state's chief fiscal watchdog.
The New York City Off-Track Betting Corp., which is now controlled by the state government, is facing insolvency unless it can get its financial affairs in order, state Comptroller Thomas DiNapoli reported Aug. 14 in a long-awaited audit.
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