NYC OTB pleads its case

[freddymo]

Originally Posted by pointman

I don't think anyone doubts that they actually had $134 million, I am sure they can document that, the question is why? As Phil rightly points out, how is that figure so high when their likely overhead seems to not support that? Where is that $134 million going?

I refuse to accept that they need that amount of money to legitimately run this operation. Most likely a vast amount of that is waste that no profitable company would allow or would be expensed by a private for profit company. If he wants to cry poverty, than put it all out on the table. But to just simplify the numbers like that in a deceiving way, suggest that the loss of NYC OTB puts the racetracks, horsemen and breeding industry at risk of survival and suggest we should just accept that they need to spend that kind of money to operate is pure BS.

5000 a month rent in manhattan.. Phil have a heart.. Employees have benefit packages of 15 to 20k a year never mind their salaries. Once some forensic accountants rip thru the numbers will have a better clue what is BS. This story will have some legs for sure..