Fate Of City OTB Unknown As State Senate Heads Home
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Despite a key vote by the State Assembly, the fate of the city's Off Track Betting Corporation is still unclear.
While the Assembly passed a bailout bill for the city's bookmaking operation, the Senate left town Tuesday without taking action -- leaving the agency with few options.
OTB officials submitted plans to close the gaming parlors on Friday, unless the Senate does something.
"We've continued today to do two things. One is to prepare for the shutdown, if it's necessary. And that could come as early as this week. And two, to continue to talk to people in the Senate and explain to them what the provisions are in the bill, answer questions and urge them to come and act before Friday, because, realistically, once you close, you close," said City OTB Chief Executive Greg Rayburn.
OTB's closure would mean the loss of up to 800 jobs and leave the state on the hook for $600 million in health and pension costs.