Off Track Betting closing down?

According to the Flushing Times a/k/a The Times Ledger:

The city's Off-Track Betting Corporation last week set up a plan to close its operations, which includes 20 locations in Queens, by mid-June should it not get state funding it says it needs to continue running, according to a published report.

"Mayor Michael Bloomberg suggested back in November that OTB draft a proposal to shut down, when he said the city would not increase funding to the corporation because of "the difficult economic times facing the city."

Another good move by Michael Bloomberg ( I have been on the bandwagon) not increasing fundings on such recreational activities, when things like public transportation could use additional funding. I am surprised that OTB would be in hole. After all, it is a common sight on for the OTB on Northern Boulevard and 160th Street in Flushing to be packed. I am anticipating another restaurant, church or cell phone store to come in its place.