The New York City Off-Track Betting Corp. is threatening to close unless the state changes racing laws so it can be profitable. The corporation announced Thursday it had filed for Chapter 9 bankruptcy protection, which is available to government-created entities. The corporation says laws require much of the betting ...

Gov. David Paterson said Tuesday he was trying to save the long-troubled New York City Off-Track Betting Corp. by signing an executive order authorizing it to go to bankruptcy court and effectively reinvent itself. The order allows for financial reorganization of the decades-old New York City ...