Eric Adams's posts related to Racing

NYS Senator Eric Adams, Chair of the Committee on Racing, Gaming and Wagering, will hold a public hearing entitled “The Future of New York City OTB”

PRESS ADVISORY

NYS SENATOR ERIC ADAMS, CHAIR OF RACING, GAMING AND WAGERING COMMITTEE, WILL HOLD A PUBLIC HEARING ON THE FINANCIAL CRISIS AT NEW YORK CITY OTB TO DETERMINE THE CORPORATION’S STATUS AND FUTURE

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Senator Adams opens a public hearing on "The Future of NYC OTB" on August 25, 2009

NYS Senator Eric Adams, Chair of the Committee on Racing, Gaming and Wagering, holds a public hearing entitled “The Future of New York City OTB.”  The hearing examined the circumstances that have led to the current financial crisis at NYC OTB and initiate a dialogue on processes that can repair the corporation and get it back “on track.”

Senator Adams Remarks on Governor Paterson’s Executive Order to Allow NYC OTB to File for Bankruptcy

Senator Adams remarks on Governor Paterson’s Executive Order to allow NYC OTB to file for bankruptcy:

“During the almost forty-year history of New York State off-track betting, New York City has become the leading betting region in the state, with a handle closing in on $1 billion. As elements in a public benefit corporation, regional OTB locations, including those in New York City, provide both state and local government with millions of dollars in revenue to help mitigate the cost of essential projects.

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Senator Adams' statement regarding the NYC OTB filing for Chapter 9 bankruptcy

Statement of NYS Senator Eric Adams

New York City Off Track Betting Corporation has been running an unsustainable financial deficit, and it has filed for Chapter 9 bankruptcy as a necessary step towards its continuance as a viable entity.  As Chairman of the NYS Senate Committee on Racing, Gaming and Wagering, I endorse the petition as the best available alternative to a cessation of NYC OTB operations. 

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