OTB says it will shut down Friday

(AP) - A day after New York's Senate failed to acton a rescue plan, New York City Off-Track Betting Corp. says itwill close its offices

BROOKLYN - (AP) - A day after New York's Senate failed to acton a rescue plan, New York City Off-Track Betting Corp. says itwill close its offices "permanently" at the close of businessFriday.

The public benefit corporation created to handle horse racingbets away from tracks says it will layoff thousands of employeesand close its many betting parlors and teletheaters.

OTB is giving official notice to the unions representing itsworkers.

Although the Assembly approved Gov. David Paterson's plan onTuesday, the Senate decided it needed more time to consider thecomplex proposal.

The Senate's Democratic majority adjourned Monday's specialsession and didn't return Tuesday, as the Assembly did.

Officials warn Off-Track Betting could shut

advertisement | advertise on News 12

Trending Video

Officials responded to a report of an assault 1 Police: Man fatally stabbed in East New York
2 Neighborhood Brief for Feb. 19
Police shot and killed a man who they 3 Police shoot, kill robbery suspect on Star Street
For the second straight season, Lincoln High School 4 VIDEO: Lincoln wins PSAL Borough Championship
Some Bay Ridge residents say they're tired of 5 CB6 wants 2-way toll on Verrazano Bridge

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