Following the adage “if you can’t beat them, join them,” Churchill Downs Inc. announced yesterday it has abandoned its bid to purchase New York City Off-Track Betting and instead has joined the partnership of the New York Racing Association and Television Games Network in its quest to take over OTB.
“We have strong relationships with both NYRA and TVG,” said Tom Meeker, president and CEO of Churchill Downs Inc. “Each member of the new partnership brings unique strengths to the table that, together, make our bid for NYCOTB even more beneficial to the racing industry and to the city of New York.”
The city’s Development Corp., which is overseeing the possible sale of OTB, is expected to announce the finalist or finalists for the purchase within days (although the previous deadline for the decision came and went over a month ago). Besides the NYRA-TVG-Churchill group, a partnership of Magna Entertainment and Greenwood Racing also is among the final bidders.