12/03/2010 2:58PM

New York OTB board goes into emergency session


The board of the New York City Off-Track Betting Corporation went into an emergency meeting on Friday afternoon to consider a motion to delay its plan to shutdown until after the state Senate convenes on Tuesday, according to state officials.

The emergency meeting followed a vow by Senate leaders to meet on Tuesday to consider a bill already passed by the state’s Assembly that would allow New York City OTB to implement a controversial reorganization plan.

On Friday, it was unclear if Senate leaders had lined up more than 32 votes to support the bill. Negotiations were continuing on Friday on whether the Senate would demand amendments to a bill that the Assembly passed last week. If amendments are added, the Assembly would need to reconvene as well.

The OTB board approved the shutdown plan on Wednesday. If the plan is implemented, the company would close all of its outlets and its account-wagering operation as of the close of business on Friday.

RELATED STORY: N.Y. Senate to address OTB plan Tuesday