Tom Precious

  • Off Track Betting

    Shut-Down Approved for NYCOTB

    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.

  • New York City OTB

    NYCOTB Could Close Dec. 3

    If New York senators don't approve a reorganization plan, the country's largest off-track betting operation will run out of money. Closing NYCOTB will mean 1,034 people will lose jobs.

  • New York City OTB

    NY Senate Walks; NYCOTB May Shut Down

    State legislators failed to pass a plan Nov. 29 to reorganize the New York City Off-Track Betting Corp. The Assembly could pass the measure but state senators have left town. NYCOTB is expected to issue pink slips.

  • New York OTB

    NY Officials Threaten to Close OTBs

    State officials threatened to close the New York City Off-Track Betting Corp. as early as next month, creating "chaos" and costing the racing industry thousands of jobs.

  • NY Horsemen Oppose Plans for Indian Casino

    New York's largest horsemen's group is among the latest calling on the Paterson administration to halt a looming agreement with a Wisconsin Indian tribe to build a casino in the Catskill Mountains.

  • Additional NY Casino Under Negotiation

    Just weeks after breaking ground on a new casino at Aqueduct racetrack, Gov. David Paterson is hoping to forge an agreement for a competing, Native American-owned casino 100 miles away in the Catskills region.

  • Report Critical of Aqueduct Casino Process

    Details of competitors' bids were leaked, timely campaign contributions flowed and key expert advice was ignored when New York officials earlier this year tapped Aqueduct Entertainment Group to run the casino at Aqueduct.

  • Tentative ADW Deal Reached in New York

    A tentative deal has been reached to let the New York Racing Association and other tracks take over the advanced deposit wagering system now run by the giant New York City Off-Track Betting Corp.

  • New York OTB

    Battle Lines Drawn in NYCOTB Reorganization

    Officials said they are close to a deal to try to bring New York City Off-Track Betting Corp. out of bankruptcy protection, but that a final agreement is being blocked by several harness tracks in the state.

  • Aqueduct Race Track

    Aqueduct Casino Work to Begin Soon

    Genting New York officials, after turning over $380 million in licensing fee payments to the state, said they are prepared to quickly start construction on the Aqueduct casino project.

  • Aqueduct Race Track

    Check Ceremony for Aqueduct Casino Planned

    It is the photo opportunity the state of New York and the racing industry has been awaiting: a $380 million check presented by the company selected to run the much-delayed Aqueduct casino project.

  • Aqueduct Race Track

    Aqueduct VLT Contract Gets Comptroller's OK

    Nine years after first being approved, the last major hurdle for the Aqueduct video lottery terminal casino project was cleared Sept. 13 when the state's chief fiscal watchdog gave his approval for the project.

  • New York Gov. David Paterson

    Paterson, Legislators Sign Aqueduct VLT Pact

    It has taken three governors four different tries, but Gov. David Paterson and legislative leaders made it official Aug. 17: Genting New York will be the operator of the Aqueduct video lottery terminal casino.

  • Judge Rejects Aqueduct Casino Bid Challenge

    A legal challenge to stop the current Aqueduct casino bidding process and award the contract to a previous bidder was tossed out by a New York state judge July 29, said state officials who were in the courtroom.

  • Aqueduct Casino Bidding Process Halted Again

    A New York state judge has temporarily halted the bidding process for the Aqueduct casino project to give time to consider a lawsuit brought by a consortium that had won the casino rights in a previous bidding round.

  • New York City OTB President Resigns

    The financially struggling New York City Off-Track Betting Corp. has accepted the resignation of its long-time president, and quickly filled his job with a replacement making nearly 10 times as much.

  • New York to Add 'Uncoupled' Wagering Rule

    New York's new uncoupled wagering rule will be in place before the start of the upcoming Saratoga racing meet, the state's top industry regulator said June 25, and should be a boost for track handle.

  • Slot Machine

    Lobbyist Given Info on Other Aqueduct Bidders

    A politically-wired lobbyist for a bidding group that initially won the development rights to the Aqueduct casino project was provided details about competitors' bids by the top Democrat in the New York state Senate.

  • NYCOTB Chairman Said to Have Resigned

    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 Lawmakers Approve NYRA Loan

    New York State lawmakers on May 24 approved a $25 million loan for the New York Racing Association, keeping the racetrack operator solvent for at least the rest of the year and avoiding a shutdown of its operations.

  • Breeders to Seek $17M for NYRA With Lawsuit

    A group of about 10 Thoroughbred breeding farms and the Saratoga County Chamber of Commerce next week will sue the state of New York to try to force it to loan $17 million to the New York Racing Association.

  • NY Casino Net Winnings Top $1 Billion

    Racetrack casino gambling in New York grew in all but one facility in the past year, as the net winnings of the racinos topped $1 billion for the first time since slots were permitted in the state in 2001.

  • NYC OTB Workers in Line for Pay Hikes

    More than 1,000 unionized workers at New York City Off-Track Betting Corp. are in still in line for pay hikes and severance deals but won't be paid until a long-term agreement is made.

  • NYRA Seeks State Loan; NYOTB Cuts Staff

    NYRA may get a $17 million loan to help its cash crunch. Meanwhile, New York Off-Track Betting on April 23 cut 35 employees from his staff as it works through bankruptcy reorganization.

  • NYCOTB Bailout Deal Goes Up in Smoke

    An effort to bail out New York City Off-Track Betting Corp. collapsed April 14, leaving uncertainty over whether the betting giant will have to close its doors the weekend of April 17.

  • Lawmakers Working on NYCOTB Deal

    Negotiators are closing in on a deal to keep the money-losing New York City Off-Track Betting Corp. alive for another year, but last-minute sticking points have been jamming up a final agreement the past 24 hours.