NYC OTB: Court dismisses bankruptcy case..

[Rudeboyelvis]

http://www.bloodhorse.com/horse-raci...paign=20101201

[Princess Doreen]

GTFO!

your tagline.

[randallscott35]

The horror...No OTB

[hoovesupsideyourhead]

wtf..if spitzer can be on cnn .cant the otbs stay open?

http://www.drf.com/news/new-york-otb...friday-closing

[richard]

Shut this parasite down . No more bailouts for thieves .

[Cannon Shell]

Does the $120k a month guy keep getting paid after they shutdown?

[pointman]

Does anyone know whether the Aqueduct races will be broadcast to NYC residents if there is a shutdown?

[Kasept]

Originally Posted by richard

Shut this parasite down . No more bailouts for thieves .

Without insulting you or anyone else that is confused by the equation here, "What bailout"? How is 'bailout' invoked in the state senate simply OK'ing a restructuring of OTB's statutory payouts and the move of its' ADW and phone-a-bet system to the harness/thoroughbred tracks? Because that's all that is necessary here. There is no taxpayer money involved in what is required of the senate buffoons in Albany to finalize these proceedings.

[Kasept]

Latest..

New York OTB talks continue
By Matt Hegarty

Leaders of the New York Senate remain in negotiations with legislators in an attempt to build support for a bill that would allow the New York City Off-Track Betting Corporation to cancel a plan to close at the end of Friday, officials for the legislature and Gov. David Paterson said on Thursday.

[richard]

NYCOTB should be sold to private interests so that all monies owed will be repaid and paid on time in the future . I don't appreciate tax payers money being drained by a corrupt public entity . God forbid NYCOTB was given a chance to run the Aqueduct Casino .

The Big A racino was put up for bid and so should the NYCOTB .

[Kasept]

Originally Posted by richard

NYCOTB should be sold to private interests so that all monies owed will be repaid and paid on time in the future . I don't appreciate tax payers money being drained by a corrupt public entity .

Please explain where taxpayer money is being applied in any manner here. (Nor has it been previously.) In fact, the OTB corporations, while generally mismanaged and under-performing, have STILL ADDED money to state coffers, tax roles and the racing industry for decades.

[richard]

It's clear to me tax payers are being ripped off all the time by the NYCOTB . If they weren't NYCOTB wouldn't owe more than the $100,000,000 they do , and counting .

I understand that keeping NYCOTB open would probably enhance the market value of the bids for it . To simply renegotiate and "shave" all parties owed money is criminal, imo . They need to be sold so they can pay all they owe now and in the future ; imo only .

[Kasept]

Originally Posted by richard

It's clear to me tax payers are being ripped off all the time by the NYCOTB . If they weren't NYCOTB wouldn't owe more than the $100,000,000 they do , and counting .

I understand that keeping NYCOTB open would probably enhance the market value of the bids for it . To simply renegotiate and "shave" all parties owed money is criminal, imo . They need to be sold so they can pay all they owe now and in the future ; imo only .

You may want to consider a run for NY state senate.

[Kasept]

http://www.bloodhorse.com/horse-raci...eved-by-senate

The New York City Off-Track Betting Corp. could get a last-minute reprieve from its threatened shut-down following a promise Dec. 2 by the New York state Senate to return to the Capitol next week to take up a reorganization bill for the state-owned entity..

[Kasept]

N.Y. Senate to address OTB plan Tuesday; shutdown deadline nears
By Matt Hegarty

The New York Senate will return to Albany on Tuesday to address a bill that would enable the bankrupt New York City Off-Track Betting Corporation to implement a reorganization plan, according to Senate leaders. But officials for Gov. David Paterson said the promise to return on Tuesday is not enough to avert a shutdown of the corporation’s branches and account-wagering operation at the close of business today.

Despite the vow, Jessica Bassett, a spokesperson for Gov. David Paterson, said that the state has not been assured that the bill would pass, citing the need for the Democrats to secure votes from Republicans. Therefore, New York City OTB will go ahead with its plans to shutdown at the close of business Friday.

[Alan07]

New York OTB board goes into emergency session

The board of the New York City Off-Track Betting Corporation went into an emergency meeting on Friday afternoon to consider a motion to delay its plan to shutdown until after the state Senate convenes on Tuesday, according to state officials.

On Friday, it was unclear if Senate leaders had lined up more than 32 votes to support the bill. Negotiations were continuing on Friday on whether the Senate would demand amendments to a bill that the Assembly passed last week. If amendments are added, the Assembly would need to reconvene as well.

[Cannon Shell]

OOOOOOOOOO! An 'emergency' meeting!!!

Maybe they will go into double, secret bankruptcy?

[the_fat_man]

Where are all the MoFo's that absolutely MUST smoke in smoking restricted buildings going to hang out in the meantime?

[Kasept]

http://www.drf.com/news/new-york-otb...delay-shutdown

NYC OTB Board will delay shutdown until outcome of State Senate deliberations next Tuesday...

[richard]

It is over due that horse racing becomes itself and stops feeding those that have nothing to do with the sport .
To paraphrase Ronald Reagan;
"Tear this wall down Gov Paterson. The money belongs to the owners and the investors in this sport ."