OTB Misses Deadline To Pay $3 Million To Nassau County
On Long Island, Nassau County officials are worried about OTB’s ability to make future payments to the county. They say the gambling company missed a March 31 deadline to pay $3 million under its revenue-sharing deal for video lottery terminals at Aqueduct Racetrack.
The missed payment comes in the middle of a budget crisis in Nassau, and the county’s financial watchdog, NIFA, is worried that millions in revenue in the county’s 2018 budget won't come in. OTB is scheduled to pay $20 million next year.
Nassau OTB transferred its right to host video lottery terminals in the county to Resorts World Casino in Queens in 2016.
OTB officials say the March 31 deadline was not firm. Both they and Nassau County officials say the payment will be made by May 15.