Measure offers method to manage NYC OTB

[Kasept]

Legislation Would Transfer NYCOTB Operations
By Tom Precious

Legislation introduced April 2 would permit a New York state government panel to take over the operations of the New York City Off-Track Betting Corp. if it shuts down.

The bill, by Assembly racing committee chairman Gary Pretlow, would require NYCOTB to transfer all its wagering accounts, including telephone and internet wagering, to the state panel that oversees the finances of the New York Racing Association. The panel would then be permitted to enter into a management deal with NYRA to run those NYCOTB wagering operations.

Finally, the bill would expand the financial review powers of the Non-Profit Racing Association Oversight Board beyond NYRA to also include the NYCOTB. The panel, now headed by Robert Megna, who is Gov. David Paterson’s budget director, has sweeping powers to approve such things as contracts and certain spending.