According to reports, New York City Off-Track Betting could be closing for good within mere months

.

An article on nydailynews.com explains that unless the state legislature approves the company's bankruptcy re-organization plan, NYC OTB's doors could close for good after March 30, 2010. The company employs 1,400 people.

The report also quoted New York Thoroughbred Breeders executive director Jeffrey Cannizzo as saying the news is a "hollow threat," an that the same tactics were used in 2008 when NYC OTB previously went bankrupt.

Click here to the read the nydailynews.com article in its entirety.

(With files from nydailynews.com)