The head of the embattled New York City Off-Track Betting Corp. has resigned at a time when the betting giant is attempting to create a financial survival plan, sources close to the matter said the evening of June 4.
New York City Off-Track Betting Corp. officials are preparing to seek a bankruptcy judge's help in deferring statutory payments to racetracks and others to avoid an April 11 shutdown.
New York City Off-Track Betting Corp. officials Jan. 25 moved another step nearer to shutting down with approval of letters to employees giving them the legally required notice of a March 30 closure.
New York City Off-Track Betting Corp. plans to seek Chapter 9 bankruptcy protection in an attempt to reorganize its business.
Jerome C. "Jerry" Meyer, whose big horse, Verbatim, was a powerful presence in the late 1960s in New York, died July 15 after a bout with cancer. The 78-year-old Meyer was a patient at Princess Margaret Hospital in Toronto at the time of his death.
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