BUSINESS

New York’s OTB chairman quits after financing plan rejected

TAGs: meyer frucher, new york off track betting

Meyer Frucher, chairman of New York’s Off Track Betting, has resigned his post after his financing plan to rescue the troubled agency was rejected by state officials. OTB, which handles more than a billion dollars a year in wagers, yet still manages to lose hundreds of thousands of dollars every month, has been in bankruptcy protection since December. Personally, we think the real reason Frucher resigned was because he’d doing the job for over a year without being paid. I mean, you get what you pay for, right? Read more.

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