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Don't stick public with bill from Suffolk OTB

Patrons stand in Suffolk OTB in Hauppauge (March

Patrons stand in Suffolk OTB in Hauppauge (March 29, 2012) Credit: Ed Betz

$24 million -- That's how much the Suffolk Off-Track Betting Corp. lost over the last five years as betting on horses has declined. With $10 million in outstanding liabilities, Suffolk OTB is going through a bankruptcy reorganization. The scariest debt it lists is the $3.3 million it owes the state retirement fund, because taxpayers will have to cover liabilities like that if Suffolk OTB can't. That's why a plan that winds down all the OTBs is needed, and fast.


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