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New York OTB may cut funds

Updated: July 16, 2010, 4:17 PM ET
By Matt Hegarty | Daily Racing Form

New York City Off-Track Betting Corporation will develop a comprehensive restructuring plan over the next 30 days that will likely include proposed cuts in the amount of money that the state's racing industries receive from the company's betting revenue, according to the corporation's new chief executive, Greg Rayburn.

Rayburn, a reorganization specialist who was installed as New York City OTB's chief executive last week by Gov. David Paterson, said on Friday that the various constituencies ...

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