Sunday, October 17, 2010

As shutdown looms broke OTB pitches gambling terminals to taverns to lift money

Some New York club owners goal horses will lead some-more congregation to their taprooms - and get them to drink.Desperately scrounging for cash, the broke city Off-Track Betting Corp. has been charity pub owners thousands of dollars to open betting terminals.The representation is simple: More gambling equates to some-more drinking, that equals some-more profits.At the Coconut Palm Bar and Restaurant in the Bronx, owners Mohamed Mohamed, 46, says his clients mostly go to an OTB sitting room circuitously prior to interlude in for $3 bottles of beer.OTB not long ago stopped by charity to implement apparatus for betting on simulcast races in his bar. Such a plan, Mohamed said, would have things some-more available for commercial operation - and some-more essential for him."The horses would keep them in the bar," Mohamed said. "They wouldnt have to go to the OTB."In a last-ditch bid to spin the financially strapped OTB around, paid consultants not long ago have visited some-more than 100 city bars.They representation a module to implement betting terminals they call "kiosks," earnest to compensate $2,500 for startup costs and to "fund the till." Bar owners would get a cut of the take. Plus, there would be all that additional drinking.Promotional materials given to barkeeps contend congregation will outlay "more time drinking, eating and wagering."OTB records that 56 bars nearby Albany and on Long Island have the kiosks, and that increase have risen."The kiosks are a key square in the plan to renovate New York City OTBs superannuated commercial operation indication and move it from the 1970s brick-and-mortar version to a complicated technology-based indication in line with consumer preferences," pronounced OTB orator David Vermillion.Time is using out. Last Thursday, OTB got sovereign failure insurance to defense it from $500 million in debt. A day later, it pink-slipped 1,300 workers and vowed to close down Apr 11.OTB President Raymond Casey pronounced the bars that got the representation were piece of a offer the group was display to banks in hopes of raising $250million by the sale of bonds."For this to be successful, you need to be means to revoke the cost of you do commercial operation and reinstate income streams," he said.OTB expert Susan Fine pronounced her employees had performed 100 "nonbinding joining letters" from city bars.Her association done $180,000 in the past 6 months for such tasks as promulgation out the letters and negotiating stop of leases at betting parlors.Chetram Vhigroog, a former accountant who owns the Amazon Restaurant and Bar in the Bronx, pronounced he wouldnt mind profiting from the betting technology."Anything that is great for business," he said.The projects promotional materials guarantee owners a "$10,000 reward for being one of the initial 10 bars reaching $1 million bets inside of a year."Vhigroog wondered how that was possible: "What, do they have a tip safe they"re opening?"At L. Quisqueya Bar and Restaurant in the Bronx, owners Jesus Garcia pronounced he sealed a minute of vigilant given "they betrothed they"d repair up the backroom."He has given altered his mind and no longer wants a depot in his bar.tmoore@nydailynews.com
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