from the New York State Racing and Wagering Board

Schenectady, NY — New York State Racing and Wagering Board Chairman John D. Sabini announced today that the Board is closely monitoring the planned closure of the New York City Off Track Betting Corp. and is poised to protect all accounts and un-cashed winning pari-mutuel tickets held by the corporation on behalf of its customers.

“This Board will do everything in its power to ensure all customers with open accounts at New York City OTB and all with un-cashed winning tickets there are made whole — dollar for dollar,” Chairman Sabini said. “My goal is to minimize any adverse impact on the dedicated fans of racing.”

The Racing and Wagering Board is reviewing New York City OTB’s action to notify patrons of its plan to close its parlors.

“A fundamental component of our core mission is to safeguard the interests of the betting public, and this Board will live up to that responsibility in the unfortunate situation now at hand,” Chairman Sabini said. “While we have been hoping that NYC OTB could be transformed into a viable entity, we will be vigilant in protecting the customers in the eventuality that the corporation goes out of business.”