The Off Track Betting sites in New York City have seen the recession in the United States and increases in online gambling severely diminish their profits. They have been asking the state government in Albany to help bail them out after facing record losses. The government has not responded in kind. Off Track Betting officials have already stated they plan to close some of their New York City locations and lay off workers, but without help from the government they would have to shut down all together. They even went as far as to pose a deadline of last Sunday, March 25, after which they would close their doors, unless they were granted a temporary waiver on certain fees to the racing industry. This would have meant a $2 million reduction in payments to local horsemen and the Empire Resorts’ Monticello Casino and Raceway.
However, some lawmakers in Albany thought the New York gambling company was exaggerating or even bluffing on the threat of closure. Turns out those lawmakers might have been right. After the end of the business day on Friday lawmakers went home for the weekend without making any attempt to rescue OTB. OTB responded by announcing they would stay open for at least a year and would not go through with the proposed 1,300 job layoffs.
Assemblywoman, Aileen Gunter, who was initially concerned about the closing of gambling sites voiced her opinion when she said, “What a tremendous waste of time and energy. She went on to say that the credibility of the OTB’s operators is shot. She even added that OTB “…manufactured a crisis…” It seems everyone is mad at OTB. Empire Resorts is adamantly opposing any reduction in fees owed. They also are upset that OTB feels they can, “…unilaterally defer other payments without the permission of the court.” They added that they would work with the bankruptcy court to find a solution that would be fair to the creditors.
