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New York City OTB Closing One Site, Others May Follow30 December 2004NEW YORK -- As reported by the Thoroughbred Times: "Ira Block, New York City Off-Track Betting Corp. executive vice president for legal affairs/general counsel, confirmed on Tuesday that one New York City OTB outlet would close by year's end and that others were being targeted for possible closing as well. "Block said the branch on Court Street in Brooklyn will close at the end of business on Friday. He said a decision is imminent on the facility at 115 Water St. in Staten Island, which he said could close as early as March 15. "Others are under consideration," he added. "During the fiscal year ended June 30, New York City Off-Track Betting Corp. lost $10.7-million, due in large part to payments of $6-million to $7-million to import nighttime Thoroughbred races..." |