Bloomberg on Paterson's Plan to Save OTB: No Thanks

Michael Bloomberg couldn’t be less enthusiastic about the O.T.B. bailout plan announced today by David Paterson to keep the city’s betting operation from shutting down this weekend.

Here’s a statement from the mayor:

“The City of New York still has substantial legal and economic issues that need to be settled before the future of off-track betting in the five boroughs is resolved – and it is very disappointing that these concerns have not been addressed. Without a settlement of these outstanding issues, we will have no choice but to go forward with our plan to close the City’s OTB parlors on Sunday. We hold out hope that a satisfactory solution can be reached. But I want to reiterate the City’s position: We will fight to prevent gambling operations in the City unless they provide a public benefit to the City. Every other locality that has OTBs receives a benefit from them – and our legislative representatives in Albany should ensure we do as well.”
Bloomberg on Paterson's Plan to Save OTB: No Thanks