Updated on 09/15/2011 12:38PM

NYC OTB press conference canceled

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New York City officials said Thursday that a morning news conference - reportedly about the sale of the New York City Off-Track Betting Corp. - had been called off.

No reason was given for the cancellation. There had been speculation that a deal was to have been announced.

The New York Racing Association and Magna Entertainment are finalists in a bidding process to acquire the municipally owned OTB, which last year handled more than $1 billion in bets.