The New York City Off-Track Betting Corp. board of directors Dec. 1 approved a resolution to shut down the betting giant, affecting 1,000 workers and leaving an uncertain future.
A Republican-dominated state panel overseeing Thoroughbred racing in New York has curbed the ability of its new chairman to broker deals with the New York Racing Association. The chairman was appointed by Democrat Gov. Eliot Spitzer. The move came the same day Spitzer released his 2008 state budget plan, which includes revenue from a proposed casino at Belmont Park.
A state government panel in charge of overseeing the New York Racing Association's finances--and the racing franchise as of Jan. 1, 2008--has a new chairman at a critical moment in the franchise negotiations.
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