City OTB Board votes 'to close'..

[mes5107]

Originally Posted by oilertige

Okay, so according to my simple calculations, after paying the racing industry, there is still $27 million on the table . . . not enough to cover overhead??? Why the need to inject more money into OTB? It would seem to be a self supporting operation??? By doing away with this business, it would appear that the city is losing a revenue making opportunity to help their coffers?

From what I've read, there are approximately 1,500 employees of NYC OTB. That's an average salary of $18K per year if they take all of the leftover revenue. Of course, 1,500 employees seems like quite a lot for just over 60 branches.

I guess the question is: Does this create an opening for NYRA to start up OTB at some point in the future?