Senate debates Off-Track Betting rescue

(AP) - The state Senate has been called back toconsider a rescue plan for the financially troubled New York CityOff-Track Betting Corp.Senate Democratic leader John

NEW YORK - (AP) - The state Senate has been called back toconsider a rescue plan for the financially troubled New York CityOff-Track Betting Corp.

Senate Democratic leader John Sampson says it will requirebipartisan support Tuesday to pass the rescue and reorganizationplan approved by the Assembly.

The 40-year-old state-owned bookmaking enterprise's board votedto close after business Friday and lay off 800 employees, whileurging Senate action.

Calls to OTB for comment on whether it will go ahead with theshutdown were not immediately returned Thursday.

Senate Republican spokesman Scott Rief says Thursday thereshould be solution that strengthens horse racing and protectstaxpayers.

The pending plan is a new business model with concessions byunions and management to modernize.

OTB shutdown may cost BX jobs

OTB says it will shut down Friday

advertisement | advertise on News 12

Trending Video

1 Bronx Sportscast, Jan. 23
VIDEO: Discovery of human remains in freezer shocks 2 VIDEO: Discovery of human remains in freezer shocks neighbors
Two children were struck by a school bus 3 School bus hits 2 children in Mott Haven
Con Edison has offered a few tips you 4 Con Ed offers storm safety tips
Jenny Gutierrez, Hector Quezada and Joel Hernandez were 5 Suspects in fatal restaurant beating appear in court

advertisement | advertise on News 12

Features

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE