Thoroughbred groups join SOA in seeking OTB restructuring
March 29, 2010,by John Pawlak, the U.S. Trotting Association
Columbus, OH — Two Thoroughbred groups in New York have joined the Standardbred Owners Association of New York in supporting New York Assemblyman Gary Pretlow’s plan to restructure the New York City Off-Track Betting Corporation.
The Corporation has vowed to cease operations on April 11 if its own plan to reduce payments to the racing industry cannot be enacted. The Corporation already owes millions of dollars to the racing industry it says it cannot pay.
“From its inception, OTB quickly earned a reputation for mismanagement, corruption and favoritism, a place that cared less about the bottom line than it did about providing plum jobs to the politically connected,” the New York Thoroughbred Horsemen’s Association and the New York Thoroughbred Breeders Association said in a joint statement to the press last week.
“It is an old joke, but no one is laughing any longer, OTB is the only bookie in New York that loses money. If OTB is not fixed, it will lead to the closing of Aqueduct, Belmont and Saratoga. It is time for the inept operation to be shuttered.”
- SOA of New York conditionally supports NYCOTB plan (Wednesday, March 17, 2010)
SOA of New York President Joseph Farlado outlined support for a plan to restructure the New York City Off-Track Betting Corporation.
- Harness horsemen reinforce support for Pretlow proposal (Monday, March 22, 2010)
In response to today’s bankruptcy court ruling to uphold the proposed bankruptcy of New York City Off Track Betting, the Standardbred Owners Association of New York reinforced their support for a restructuring proposal released last week by NYS Assembly Racing & Wagering Committee Chairman Gary Pretlow.
- Faraldo calls for no short term bailout of NYCOTB (Thursday, April 08, 2010)
The SOA of NY president feels it would do long term damage to the New York State harness racing industry.
- SOANY responds to proposed recommendations of NYCOTB Creditors Committee (Tuesday, July 27, 2010)
The following memorandum was sent today to members of the New York State legislature by the Standardbred Owners Association of New York.