Keyword: Michael Bloomberg

  • 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.

  • NYRA: Toss Out NYCOTB Bankruptcy Petition

    The recent bankruptcy petition by the New York City Off-Track Betting Corp. should be tossed out of federal court, the New York Racing Association argues in a lengthy legal brief filed Jan. 4 in Manhattan.

  • Takeout Increase Blocked in New York

    New York Gov. David Paterson signed legislation March 13 to block a scheduled across-the-board takeout increase in out-of-state wagers placed at tracks and OTB parlors in the state.

  • New Plan Has State Running NYCOTB

    Negotiators are eyeing a plan to have the state of New York take over the running of New York City Off-Track Betting Corp., which is threatening to shut down this weekend unless a revenue sharing structure is changed.

  • Governor Open to Options to Save OTB

    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.

  • New York Officials Working to Save OTB

    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.

  • Negotiations Begin Concerning NYCOTB

    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.

  • Star Bright: Belmont Celebrities

    Funny Cide's bid to win the Triple Crown in the Belmont Stakes (gr. I) on Saturday is turning New York into a "one-horse town." Sackatoga Stable's hero will not only bring out the equine stars to challenge him and run on the undercard, but will bring out a gaggle of luminaries from Hollywood and New York as well as heavyweights from the political arena.

  • New York Deal Includes Other Pari-Mutuel Provisions

    A deal to bring video lottery terminals to New York racetracks with an increased slice of the pie for track operators includes other provisions, including removal of restrictions on pari-mutuel takeout. The VLT deal is expected to bring the state $165 million this year, legislative sources said.

  • Cornstein Re-Appointed Chair of NYC-OTB

    New York City mayor Michael Bloomberg re-appointed David Cornstein as chair of the Off Track Betting Corp. (OTB) on Jan. 10. Cornstein was first appointed to the board in 1994.

  • New York City OTB Gets New Boss

    New York City Mayor Michael Bloomberg has named Ray Casey, who directed the city's Trade Waste Commission, to head New York City Off-Track Betting Corp., the New York Post reported Feb. 21. Bloomberg also said the city wouldn't sell the betting corporation, at least for now.

  • NYRA Plans to Make New Pitch for NYCOTB

    Despite plans by the new mayor of New York City to delay the sale of New York City Off-Track Betting Corp., the head of the New York Racing Association said he will make a new pitch to purchase the lucrative corporation.