Struggling Off-Track Betting Files For Bankruptcy Protection
Pauline Renaud
The New York City Off-Track Betting Corp (OTB), an operator of storefront horse-race wagering parlours, has filed for bankruptcy protection and plans to reorganise after five years and $45m of losses. It expects to close several of its 66 parlours, and hundreds of employees will lose their jobs.
Bankruptcies across Washington state grew in October, driven partly by steep increases in filings in King and Snohomish counties, but the pace of new filings could be slowing.
There were 2,477 bankruptcy filings in Washington state last month, up 32 percent from the previous November.
The New York City Off-Track Betting Corp (OTB), an operator of storefront horse-race wagering parlours, has filed for bankruptcy protection and plans to reorganise after five years and $45m of losses. It expects to close several of its 66 parlours, and hundreds of employees will lose their jobs.
San Jose Bankruptcy Attorney comments on the decline in November bankruptcy filings.
Bankruptcies across Washington state grew in October, driven partly by steep increases in filings in King and Snohomish counties, but the pace of new filings could be slowing.
Elgin is using federal money to help rehab foreclosed homes.
