We\'re saved!!! The clueless Albany crowd will meet to save NY Racing,BRILLIANT!
OTB system to be focus of N.Y. Senate committee meeting
Posted: Friday, February 04, 2011 3:34 PM
by Paul Post
The fate of New York’s troubled off-track betting system is expected to take center stage at a Monday hearing of the state Senate’s Standing Committee on Racing, Gaming and Wagering.
Racing stakeholders, by invitation only, will share their views on a variety of topics confronting the industry, from 10:30 a.m. EST to 1:30 p.m. in Albany.
Committee Chairman John Bonacic (R-Mt. Hope) said implementing a more efficient off-track betting system is the state’s most pressing need.
New York City OTB, which handled $750-million in wagers annually, closed December 8 after a year in bankruptcy.
Bonacic said at least four remaining of the five regional off-track betting entities should be consolidated, either fully or partially, or that an outside firm should be brought in to develop the off-track betting product on a statewide or near-statewide platform, such as a television network or account deposit wagering company.
“I think you will see some consolidation this year,” he said. “Western OTB is different since they own their own track [Batavia Downs].”
The hearing is expected to cover many issues.
“Addressing out-of-state ADWs has been done in other states,” Bonacic said. “I want to make sure ADW companies which operate out of New York state and take bets from New Yorkers on New York racing contribute to our racing community.”
Off-track betting officials have said they are at a competitive disadvantage to out-of-state ADWs that are not subject to state fees and can offer rewards and incentives to attract bettors.
Bonacic said he wants to get legislation passed to address this particular issue.
In other matters, Bonacic said he will ask the New York State Racing and Wagering Board to embark on a fan education and development project. He also ranked bringing the Breeders’ Cup back to New York next year as a chief goal.
