News & Views
ALBANY - As the future of New York City OTB comes down to the wire, a top aide to Gov. Paterson said Tuesday that state leaders are working on a deal to save the cash-strapped legal bookie. A key issue under discussion is a plan to address Mayor Bloomberg's concern about OTB's payments to the state, the city and the racing industry, said Paul Francis, Paterson's director of state operations. Francis said a change in the formula would reduce OTB's partner payouts by 20%, or between $20 million and $25 million a year. The reductions would be based on cash flow and affect the percentages OTB pays its partners, such as horsemen, breeders and the New York Racing Association, which operates the Aqueduct, Belmont and Saratoga Thoroughbred race tracks. Such a deal would be a big win for Bloomberg, who has vowed to shutter the city's OTBs by next month unless OTB was allowed to keep more of its revenue. "The clock is ticking and we need to come up with something that is a longstanding solution," Francis told reporters. While Assembly Speaker Sheldon Silver (D-Manhattan) wouldn't talk specific numbers, he said his house can "go along with something that eliminates some of the payments." Senate Majority Leader Joe Bruno (R-Rensselaer), addressing the union that represents OTB workers, also vowed a deal will be in place before Bloomberg can follow through on his threat to shutter the city's OTBs. "We are going to do everything and anything to make sure that [OTB] continues," Bruno said. This article is a reprint from nydailynews.com. To see the original article Click Here Copyright 2008 Thoroughbred-World.com, Inc.
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