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New York City OTB’s fate hanging in the balance

1st December 2010 10:39 am GMT

The New York City Off Track Betting Corporation (NYC OTB) has warned that it will be forced to shut down operations on Friday December 3rd if the state Senate fails to approve a reorganisation plan announced by New York Governor David A Paterson earlier this year.

The NYC OTB filed for Chapter 9 bankruptcy protection last December following declining wagering revenues and losses of $45m over the past five years, with the company calling on the [...]

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