- Mayor Bloomberg seems to be faring a lot better in Albany regarding his efforts with NYC OTB than he did in his two big recent legislative defeats - his congestion pricing and teachers' tenure plans. Seems as if he's going to get exactly what he wants.
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.Actually, I'd call that the key issue rather than a key issue. They simply want to disburse less money, as would we all! Of course, absolutely nothing going on regarding any changes in the business model by which the relationship between OTB and NYRA is strictly competitive. James Odato reported on the Times Union's Capital Confidential blog that NYRA would get about $10 million to $12 million less per year from the betting corporation. If you think none of this will effect you, Odato, as reader JK pointed out yesterday, also reports that the other OTB's are calling for NYRA to raise the takeout rates; big surprise there. The so-called “take-out” is the lowest in the nation, the OTB operators complain.
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. [NY Daily News]
- Capitol OTB stands to be reimbursed for a Derby day computer glitch that may have cost it around $400,000 in handle when betting went down for the hour leading up to post time, ouch!
[United Tote] has taken full responsibility for the wagering downtime, said [OTB President John] Signor and with respect to the counties and city of Schenectady, it will make good on whatever revenues were lost due to the problem. [Schenectady Gazette]