Times Union archive photo by Emilie Munson.

When any complex public corporation winds down, the first step is always the same: Settle the books.

Catskill Off-Track Betting Corporation can no longer compete with resort destinations, slot machines and sports wagering. As a result, it has ceased accepting wagers and is in the process of winding down operations. The question now is whether the state will allow Catskill OTB to responsibly settle its remaining obligations or whether local governments, racing associations and statutory beneficiaries will be left holding the bag.

Advertisement

Article continues below this ad

A bill (S.8419) awaiting Gov. Kathy Hochul’s signature provides the only sensible path forward. It authorizes Catskill OTB, for one year, to use up to........

© Times Union