Belmont Park, saying it benefited from the shutdown of New York City Off-Track Betting Corp., reported increases in attendance and most pari-mutuel handle categories for its 2011 spring/summer meet.
The New York Racing Association announced new hours of operation for simulcasting at Aqueduct and the Belmont CafÃ©, and will suspend bus service from New York City Off-Track Betting parlor locations Dec. 20â€"28.
The New York State Racing and Wagering Board pushed through new emergency rules to make it easier and quicker for NYCOTB bettors to sign up with internet and phone wagering platforms at the state's other OTBs.
With the future of the New York City Off Track Betting Corp. up in the air, the New York Senate returned to the Capitol to find itself in the middle of a long-standing battle between tracks and OTB corporations.
The New York City Off-Track Betting Corp., facing a shutdown later in the day, was given a four-day reprieve Dec. 3 when the state Senate is due back to consider passage of a bankruptcy reorganization plan
Seven creditors are negotiating to clear the slate on nearly $100 million in debt owned by the New York Off-Track Betting Corp.
Two New York lawmakers say the $125,000 per month salary of the new NYCOTB president is illegal and have called for an investigation into his hiring.
Officials in New York have failed to agree on a bailout plan for the New York City Off-Track Betting Corp., which issued layoff notices Friday to its 1,300 workers as it prepares to close down April 11.
The New York Racing Association lost a five-year-old lawsuit Feb. 24 when the state's highest court refused to hear its appeal in a case potentially worth millions of dollars in back simulcasting payments to the racing entity.
Lawmakers in New York have given final approval of a deal in which the state takes over the control of the New York City Off-Track Betting Corp, a move that could be a prelude to consolidation of all the OTBs across the state.
The state of New York will take over the operations of the New York City Off-Track Betting Corp., Gov. David Paterson announced June 13, as part of a broader plan that could end up consolidating all of the state's OTBs.
New York Gov. David Paterson said all options â€" including a takeover by the state or the New York Racing Association -are on the table if a deal is not struck by this weekend (June 14-15) to keep open the New York City Off-Track Betting Corp.
State officials are working on a plan to help keep the New York City Off Track Betting Corp. from shutting by shaving up to 20% of revenue-sharing the OTB now makes to various entities, including the New York Racing Association, out-of-state tracks, and breeding programs.
Preliminary negotiations have begun at the state Capitol in Albany to address New York Mayor Michael Bloomberg's threat to shut down the New York City Off-Track Betting Corp. in June.
The New York Racing Association is considering pulling the simulcast signal sent to New York City Off-Track Betting Corp.'s in-home bettors.
Internet gambling on horse races would become legal under a measure given final approval by the New York State Legislature.
The New York Racing Association has struck a tentative deal with horsemen on a revenue-sharing arrangement for future proceeds from video lottery terminals at Aqueduct Racetrack.
Magna Entertainment Corp., in conjunction with New York City Off-Track Betting, has launched a half-hour preview show that will air race days on OTB's cable television channel.
The New York City Off-Track Betting Corporation and Churchill Downs are teaming up to giveaway 2,500 "mystery vouchers" on April 25. The vouchers will be distributed in front of NASDAQ headquarters at 43rd St. and Broadway before the opening of the market. Raymond Casey, president and CEO of NYCOTB and Tom Meeker, president and CEO of Churchill Downs, will assist in the giveaway.
The new mayor of New York City left open the prospect that he may still proceed with the sale of New York City Off-Track Betting Corp., a deal some of his aides are pushing him to make to raise money for the deficit-ridden city. But whether he will proceed with the sale of the $1-billion betting empire that was begun by his predecessor, Rudolph Giuliani, remains a question.
Setting the stage for a nasty battle between two racing giants, New York City Mayor Rudolph Giuliani Thursday afternoon tapped a group led by Frank Stronach's Magna Entertainment over the New York Racing Association as the winning buyer of the lucrative New York City Off Track Betting Corp.
The New York Off-Track Betting Corp. has made arrangements to carry Hialeah's current meet on its simulcast system. The arrangement was announced Monday.
A Magna Entertainment-led group that submitted a bid for New York City Off-Track Betting Corp. has added a well-placed lobbyist at the state capital, an unusual pre-emptive move for a contract that hasn't been awarded. GMR-NY, a company incorporated in Delaware, has signed a deal to pay $110,000 to Patricia Lynch, who until Dec. 31 had been the closest adviser to Assembly Speaker Sheldon Silver, a Manhattan Democrat.
All parties that met the city's demand of a bid of at least $250 million remain in the running for ownership of New York City Off-Track Betting Corp., sources close to the situation said Thursday. City officials have strongly denied a published report this week that the field has been narrowed to two bidders -- one group led by the New York Racing Association, and the other by Frank Stronach's Magna Entertainment.
A special committee will decide which New York City Off-Track Betting suitors can formally bid to purchase the OTB franchise. New York City Mayor Rudolph Guliani is expected to appoint the committee by the end of the week.
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