NYRA strikes back; Will float OTB takeover..

[johnny pinwheel]

Originally Posted by richard

Thank you for the pieces Steve.

"OTB is using the bankruptcy filing to put pressure on the state legislature to reduce its statutory obligations to the racing industry "

As usual, OTB does not assume any financial risk as those in the industry do every day . OTB wants more money however.

so true, but the otb up here does alright. i think nyra should take over the city district and open some simulcast outlets. not many because i think most people there bet on the internet. its probably whats killing nyc otb. the guys online are betting $$$$$$$ the people in the parlors are betting a fraction. otb might not even be feasable in the city.

[Cannon Shell]

Originally Posted by johnny pinwheel

so true, but the otb up here does alright. i think nyra should take over the city district and open some simulcast outlets. not many because i think most people there bet on the internet. its probably whats killing nyc otb. the guys online are betting $$$$$$$ the people in the parlors are betting a fraction. otb might not even be feasable in the city.

NYCOTB's problems have nothing to do with betting

[Kasept]

Judge rules for New York OTB
By Matt Hegarty

http://www.drf.com/news/article/111618.html

A New York Bankruptcy Court judge has overruled objections lodged by the New York Racing Association and its horsemen that challenged the legality of the Chapter 9 bankruptcy petition filed late last year by the state-owned New York City Off Track Betting Corporation.

In a ruling issued on Monday, Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York challenged the objections one-by-one and ultimately ruled that NYRA's arguments had no basis in law. As a result, NYCOTB will continue to enjoy the legal shelter of the court as it seeks to reorganize and lobby for changes to state laws that govern how its revenues are distributed to the racing industry.