Saturday, June 23, 2012

Bridge for sale cheap

State lawmakers push to resurrect Off Track Betting Parlors in New York City

Senate and Assembly pass legislation giving Catskill Regional OTB authority to operate in city - taking over bankrupt New York City OTB franchise

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Updated: Thursday, June 21, 2012, 10:51 PM


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NEW YORK, NY - DECEMBER 01:  Men watch televised horse racing at an Off Track Betting (OTB) site on December 1, 2010 in New York City. Following the failure to approve a rescue and reorganization plan, OTB plans to close its offices, parlors and teletheaters and lay off 1,300 people this Friday unless a rescue plan to avoid bankruptcy is agreed upon.  (Photo by Spencer Platt/Getty Images)

Spencer Platt/Getty Images

Preliminary plans call for up to 10 new parlors to be set up in New York City.

ALBANY — State lawmakers moved Thursday to resurrect Off Track Betting parlors in New York City, despite objections from Mayor Bloomberg.
In the rush that capped the legislative session Thursday, the Senate and Assembly passed legislation that gives the Catskill Regional OTB authority to operate in the city — taking over from the bankrupt New York City OTB franchise, which shut down in December 2010.
“My main purpose in all of this was to get people back to work,” said Assembly Racing and Wagering Committee Chairman Gary Pretlow (D-Westchester.)
Nearly 1,000 workers lost their jobs when the city OTB closed its doors.
Pretlow said preliminary plans call for up to 10 new parlors to be set up in the city.
The bill, however, must still be approved by Gov. Cuomo. A source close to the administration said the governor was “leery” of expanding the Catskill OTB’s jurisdiction into the five boroughs.
Cuomo has previously called for a more comprehensive, statewide approach to gambling.
The Bloomberg administration also objected to the Legislature granting an “upstate entity” the ability to operate within the city.
Bloomberg administration officials also said the bill leaves in place the same flawed revenue sharing formulas that doomed the past city OTB franchise.
Under state law, 82% of OTB revenue must go to bet winners, and the rest be split among the state and local governments, to cover administrative costs.
Pretlow said the Catskill OTB would do a better job than the former city OTB, which wasted millions of dollars on bad real estate deals and patronage jobs.
“We think that our record precedes us,” said Catskill OTB President Don Groth. “We’ve always been profitable. We have the financial strength to pursue this.”
The Catskill OTB currently operates in 10 upstate counties, including Rockland, Orange and Putnam.
Under the legislation, the Catskill OTB must present a business plan to the state Racing and Wagering Board before it can open parlors in the city.
A site selection committee, which will include members chosen by the mayor and borough presidents, must preapprove OTB locations.
Groth said former New York City OTB workers would get a preference in hiring, whenever possible.
gblain@nydailynews.com


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Long Island Business News
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Home > LI Confidential > Stop scratching on holidays

Stop scratching on holidays
Published: June 1, 2012



Off Track Betting in New York State has been racing into a crisis called shrinking revenue. Some people have spitballed a solution: Don’t close on holidays.
New York State Racing Law bars racing on Christmas, Easter and Palm Sunday, and the state has ruled OTBs can’t handle action on those days, even though they could easily broadcast races from out of state.
“You should be able to bet whenever you want,” said Jackson Leeds, a Nassau OTB employee who makes an occasional bet. He added some irrefutable logic: “How is the business going to make money if you’re not open to take people’s bets?”
Elias Tsekerides, president of the Federation of Hellenic Societies of Greater New York, said OTB is open on Greek Orthodox Easter and Palm Sunday.
“I don’t want discrimination,” Tsekerides said. “They close for the Catholics, but open for the Greek Orthodox? It’s either open for all or not open.”
OTB officials have said they lose millions by closing on Palm Sunday alone, with tracks such as Gulfstream, Santa Anita, Turf Paradise and Hawthorne running.
One option: OTBs could just stay open and face the consequences. New York City OTB did just that back in 2003. The handle was about $1.5 million – and OTB was fined $5,000.
Easy money.

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