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Politics : Politics for Pros- moderated

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From: Brumar89	3/30/2010 4:09:26 PM
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NY can't even make a profit off gambling Yet another reason why government should not run stuff By TigerHawk at 3/27/2010 07:10:00 PM If the government of New York State cannot run a gambling monopoly profitably, is there any non-core sovereign function that it can do well? tigerhawk.blogspot.com New York City's Off-Track Betting Corp. has given layoff notices to 1,300 employees. The pink slips went out Friday as state lawmakers balked at enacting a rescue package for the long-troubled corporation, which runs horse racing betting parlors throughout the city. OTB said it will close all 66 of its parlors on April 11 if it isn't given some relief. The corporation is in bankruptcy. As part of its operating deal, it is supposed to provide millions of dollars in guaranteed payments to the state each year. .... wcbstv.com

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