So after all the threats about how NYCOTB was about to close down due to the legislature not providing them needed relief, OTB announced they will remain open and for all practical purposes, it will be business as usual.
Why am I not surprised? The whole threat to go out of business was merely a ploy to force the legislature to change the rules of the game in order for NYCOTB to survive at the expense of racing, harness racing in particular. They wanted to stop the dark day payments to the harness tracks, something which was implemented because OTB decided to show night time thoroughbred racing from some minor league track instead of showing the New York harness product. They wanted to cut the commission they pay all racetracks, including those in New York. When the legislature did not budge, they magically came up with a plan to continue operating for another year during which time they will work for long term reform, meaning they will continue to work on the legislature to get the changes they want. No doubt these future changes will apply to all the regional OTBs.
So in the meanwhile, OTB will operate by delaying payments of statutory payments they are required to make. Like I said, it will be business as usual. They still owe harness tracks millions of dollars in statutory payments despite the fact courts in the past have ordered them to make payment. They may delay paying commissions to out of state tracks (they owe some already). In the meanwhile, they will continue in bankruptcy court, 'working' with the bankruptcy creditors committee in an effort to restructure their finances.
The beast lives. The racing industry needs to play hardball with NYCOTB in bankruptcy court to make sure they get the best possible deal. In the meanwhile, the thoroughbred and standardbred groups should do is work together to come up with a plan they can sell to the legislature to get the state back into the business of regulating racing, not stealing the racetracks' business.