Photograph by Triborough on Flickr

The city's off-track betting operation says it'll be closing its locations this Friday, because the State Senate failed to vote on a bailout package. NYC OTB CEO Greg Rayburn said, "We've continued today to do two things. One is to prepare for the shutdown, if it's necessary. And that could come as early as this week. And two, to continue to talk to people in the Senate and explain to them what the provisions are in the bill, answer questions and urge them to come and act before Friday, because, realistically, once you close, you close."

Of course, OTB has been at death's door many times before, only to get last-minute reprieves. The Daily News reports, "A Senate source last night said talks were intensifying about possibly coming back on Friday. It's still unclear if the votes are there to pass legislation that sailed through the Assembly Tuesday."

Letters have been sent to over 1,000 OTB employees and their unions letting them know about the possible shutdown. The OTB also warned the state that if they close, then the lost revenue from bets would harm the racing industry and other jobs. Well, we understand why Rayburn doesn't want OTB to close—he is making $125,000 A MONTH.