New York City Off Track Betting Corp

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NYCOTB Prospects Grow Dimmer

NYCOTB Prospects Grow Dimmer

New York City Off-Track Betting Corp. is just days away from 'a point of no return,' as officials watch bettors withdraw their final ADW funds and the OTB prepares to make a last revenue-sharing payoff to racetracks.

NYCOTB Takeover Plan Appears Likely

NYCOTB Takeover Plan Appears Likely

Negotiators in New York the afternoon of June 13 were putting the final touches on legislation in which the state would take control of the New York City Off-Track Betting Corp., thereby averting a shutdown of the city's betting operations for the weekend.

Compromise Urged on New York City OTB

Compromise Urged on New York City OTB

With the clock ticking on the closure of the New York City Off-Track Betting Corp., officials from the Bloomberg administration are stepping up their calls for industry stakeholders to compromise on a bill or face the loss of more than $100 million in OTB distributions.

New York Governor Vetoes Rebate Legislation

New York Governor Vetoes Rebate Legislation

New York Gov. Eliot Spitzer has vetoed legislation advocates said would have made it easier for tracks and off-track betting corporations to begin bettor rebate programs as a way to compete with off-shore entities and others in the pari-mutuel wagering industry.

Takeout Rates Again Fuel Conflict in New York

Pari-mutuel takeout wars have begun in New York, where a state senator has introduced legislation to increase the amount the New York Racing Association keeps on wagers. Though the measure's sponsor said the takeout hike is needed to help stop NYRA's financial bleeding, NYRA chairman Barry Schwartz insists the legislation would turn off bettors and decrease purses.

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