New York City Off-Track Betting Corporation did not shut down at the close of business Friday, instead delaying its threatened closing until after the New York Senate holds a special session Tuesday. The NYCOTB board held an emergency meeting Friday afternoon, after which a message was posted on www.nycotb.com that stated, “Our Board of Directors has voted to authorize management to keep NYCOTB in operation up until midnight, Tuesday, Dec. 7, 2010.” The state senate will meet Tuesday to continue discussions regarding the reorganization plan for bankrupt NYCOTB.
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