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New York City OTB leverages online betting platform

21st October 2010 9:04 am GMT

New York Governor David A Paterson has announced that the New York City Off Track Betting Corporation (NYC OTB) has reached an agreement with unsecured creditors which will prevent the closure of NYC OTB and save hundreds of jobs, with the company’s internet and telephone advance deposit wagering system offered in exchange for approximately US$65m of debt owed by the company.

NYC OTB’s agreement was signed with the Official Committee of Unsecured Creditors of NYC OTB [...]

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