The state Senate in New York has approved a measure to pick a new private company to run the closed New York City Off-Track Betting Corp., while the Assembly has backed a bill lowering a surcharge imposed on purses.
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
New York's largest off-track betting corporation wants to be able to merge with the next holder of the state's Thoroughbred franchise to help end the "perpetual cycle of conflict'' between tracks and OTBs.
Newly hired New York Racing Association president and chief executive officer Charles Hayward said Nov. 22 the racing organization is close to operating in the black again.
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