New York City Comptroller William C. Thompson, Jr. today issued the following statement in response to the news of State legislative leaders’discussions with the Mayor to save OTB:

I applaud the Governor, Majority Leader and Assembly Speaker for their efforts to work with the Mayor to restructure the fiscal formula of OTB.  It has been clear that unless the current formula is changed to allow New York City its fair share of the economic pie, then we would have no choice but to cease operations of OTB.

By allowing NYCOTB to remain open, almost 1,500 jobs have been saved.  These are jobs that are not only important to those who hold them, but also to our economy. Losing them could have resulted in the State incurring additional healthcare and unemployment costs for the displaced workforce. 

Additionally, many surrounding businesses depend upon OTB parlors to help drive their businesses. This will help to ensure that these businesses do not falter.

With the goal of averting negative economic effects across the City as a result of the closures, I urge all parties involved to come to a swift and fair agreement.

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