Off-Track-Betting Is Revived
State Democrats have unanimously voted to pass legislation to avoid shutting down the organization and approving a state takeover of the facility. They will create an entity called the New York City Off-Track-Betting (NYC OTB) that will oversee the 68 OTB parlors throughout New York City.
According to Senate Democrat Leader Malcolm A. Smith "tens of millions of dollars and people's livelihood were at risk." At a time when jobs are scarce and highly necessary, as Senator George Onorato said, "this agreement can be seen in many ways as a winning trifecta: it's good for the city, it's good for the state, and it's good for the 1,500 NYC OTB workers who would otherwise have lost their jobs."
The NYC OTB will continue to run under the same statutory structure and honor the same terms and conditions.
The NYC OTB will also pay the city government several millions of dollars per year during the term of this agreement. As Senator William T. Stachowski remarked, "Improved accountability and financial transparency ultimately benefit all of the people of our state."