NYC-OTB: Understanding the phony 'crisis'

[mes5107]

UPDATE: Bankruptcy filing 12/09




From the DRF

Originally Posted by DRF

New York City Off-Track Betting Corporation will file for Chapter 9 bankruptcy protection on Thursday afternoon and seek to cut the amount of money it pays to the racing industry as part of its restructuring.
....
The company estimates that it will have a $40 million deficit by the end of this year, Frucher said, and will run out of cash in March.

How about installing an OTB with a profitable business model?