FOR IMMEDIATE RELEASE
February 13, 2008
STATEMENT FROM MAYOR MICHAEL R. BLOOMBERG ON THE STATE’S FAILURE TO ADDRESS OTB IN NYRA COMPROMISE
"While addressing the extension of the NYRA franchise today, the State Legislature and the Governor missed an opportunity to link on and off track betting operations. While I'm disappointed, we've been assured that there is still time for the State to fix the funding formulas that will cause New York City OTB to run a cash deficit by the end of June. As I've said repeatedly, the City will not subsidize OTB operations. OTB has come up with a closure plan, and their board will hold an emergency meeting next Tuesday to vote on implementing that plan. The OTB closure plan will continue to move forward until the State takes action."
Stu Loeser/John Gallagher (212) 788-2958