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Originally Posted by NoLuvForPletch
I'm am not the official czar on the subject, but this is what I gather. NYCOTB has to pay the state something like 5 million dollars a year just to offer wagering on Thoroughbred racing at night. This has been going on for years now. The state created NYCOTB and has their hands so deep in the pockets that NYCOTB pays more out to the state then they take in in profits. When they say they "lose money" they actually don't "lose money" they just give it all to the state, and then some from what Bloomberg has been saying.
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Actually only small parts of this are completely accurate. Listen to the podcast of Steves show today with Steve Crist and you can hear a nice short version. Basically NYCOTB is lying.