NYCOTB might close…again
November 29, 2010,from Harness Tracks of America
Tucson, AZ — The New York state legislature meets in special session on Monday (Nov. 29), with governor David Paterson pleading with them to pass his proposed New York City OTB legislation in the face of yet another threat — the third, or is it the fourth or fifth? — to close down.
Some legislators, weary of the boy-who-cried-wolf appeals, are not in accord, and Joe Faraldo and his New York Standardbred Owners Association are urging them to stand fast in the face of forgiveness of monies due Yonkers and Monticello in return for a transfer of phone betting to a track consortium called the New York Racing Network.
The SOA opposes passage fearing loss of the horsemen’s share of monies due.
The governor’s hand-picked leaders of NYC OTB — chairman Larry Schwartz, who also serves as Paterson’s chief of staff, and president Greg Rayburn — plan to send out closure notices Tuesday if immediate action is not taken. They say they will run out of cash by the end of the month unless the legislature approves their bankruptcy reorganization plan.
- NYCOTB says Friday is the end (Tuesday, November 30, 2010)
The New York City Off-Track Betting Corporation says it will close down this coming Friday after the New York Senate walked out of a special session without considering governor David Paterson’s reorganization plan.
- The death watch for NYCOTB (Wednesday, December 01, 2010)
The clock is ticking, and once again down to the final hours before Friday’s closing of New York City OTB.
- Cavalry late for NYCOTB (Friday, December 03, 2010)
The cavalry didn’t quite make it over the hill this time, and New York City OTB closed down today, just as the slow-riding New York Senate said it would return to special session Tuesday to continue “considering” the OTB’s reorganization and rescue plan.