Keyword: New York City Off-Track Betting Corp.

  • NY Lawmaker: Return Betting to City Bars

    Using the Kentucky Derby Presented by Yum! Brands (gr. I) to make his point, New York Assemblyman Micah Kellner, who represents Manhattan, railed on officials for not moving to offer offtrack betting at bars in New York City.

  • NY Horsemen to Receive $4.4 Million in Awards

    Breeders and owners in New York, shortchanged the past couple years, in part, because of the bankruptcy of New York City Off-Track Betting Corp., are in line to get $4.4 million in purse awards due them in 2009 and 2010.

  • Judge Dismisses NYCOTB Bankruptcy Case

    A federal bankruptcy judge Jan. 25 dismissed the shuttered New York City Off-Track Betting Corp.'s Chapter 9 bankruptcy case, rejecting a motion by a union representing more than 1,000 fired workers.

  • 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.

  • NYRA Defends Raises; Others Question Timing

    The New York Racing Association board of directors awarded raises to several hundred non-union employees -- a day after threatening bankruptcy if a controversial bill involving New York City Off-Track Betting Corp.

  • Bettors Rapidly Closing NYCOTB Accounts

    Despite a furious push into the night Dec. 9 by unions to get the state Senate back to Albany to try another vote, the New York City Off-Track Betting Corp. remains closed with bettors fleeing its ADW accounts by the hour.

  • New York City OTB

    NYCOTB Could Be Reprieved by Senate

    The New York City Off-Track Betting Corp. could get a last-minute reprieve from its threatened shut-down Dec. 3, following a promise by the New York state Senate to take up a reorganization bill for the state-owned entity.

  • 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

    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.

  • 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.

  • 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.

  • New York's OTB Facing April 11 Shutdown

    The nation's largest off-track betting corporation will be shut down on the night of April 11 if a deal to provide it with financial help does not come together over the weekend, officials warn.

  • 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.

  • NY OTBs Ordered to Pay Harness Track Millions

    New York's rules governing racetrack and off-track revenue-sharing took another twist Dec. 15 as state racing regulators ordered four downstate off-track betting corporations to pay millions of dollars to Yonkers Raceway.

  • NY Lawmakers Back Off Takeout on Bets

    State lawmakers in New York have backed off on a looming law raising the takeout on bets made on out-of-state Thoroughbred races, a move the industry said would have put the state at a competitive disadvantage with other states.

  • It's Official: State Takes Over NYCOTB

    New York officials announced the evening of June 15 a deal to avert the closure of New York City Off-Track Betting Corp. by having the state take over the entity. The move could be a prelude to a statewide consolidation of all OTB corporations.

  • 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.

  • New York Horsemen Oppose OTB Proposal

    The New York Thoroughbred Horsemen's Association said June 4 it recognizes the contribution made to purses by New York City Off-Track Betting Corp. but won't support a proposal that would reduce the amount NYCOTB pays to purses and the New York Racing Association.

  • 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.

  • Mixed Signals on NYRA Franchise Deal

    New York Gov. David Paterson sent mixed signals about reopening the deal giving the New York Racing Association a 25-year franchise extension to operate Aqueduct, Belmont, and Saratoga racetracks.

  • Governor Eliot Spitzer

    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.

  • Non-Carryover Pick Six Takeout Drops; OTB Balks

    As some lawmakers and off-track betting corporations push for an increase in pari-mutuel takeout, New York regulators March 30 agreed to lower the takeout on certain pick six wagers at New York Racing Association tracks.