OTB says it will shut down FridayPosted: Updated:
(AP) - A day after New York's Senate failed to acton a rescue plan, New York City Off-Track Betting Corp. says itwill close its offices "permanently" at the close of businessFriday.
The public benefit corporation created to handle horse racingbets away from tracks says it will layoff thousands of employeesand close its many betting parlors and teletheaters.
OTB is giving official notice to the unions representing itsworkers.
Although the Assembly approved Gov. David Paterson's plan onTuesday, the Senate decided it needed more time to consider thecomplex proposal.
The Senate's Democratic majority adjourned Monday's specialsession and didn't return Tuesday, as the Assembly did.
Officials warn Off-Track Betting could shut