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Capital District OTB Reports Strong Handle Gains, Lower Expenses; Plattsburgh Branch Posts Positive Returns
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Summary
Sydney Sue Garrant reported that Capital District OTB’s first seven months of 2018 handle reached $84,025,432 (excluding Saratoga), operating expenses fell by more than $1 million year-over-year, and the Plattsburgh branch produced a $53,776 improvement and $23,994 in county cash disbursements.
Sydney Sue Garrant, Clinton County Director for the Capital District Off-Track Betting (OTB) Board, provided the Legislature with a written update on regional operations and Plattsburgh branch performance.
Garrant’s memo, attached to the meeting minutes, records several financial highlights for the first seven months of 2018 (ending July 31, 2018) compared with 2017 and other year-over-year measures: Clinton County/Plattsburgh branch net improvement of $53,776 for the first seven months; a decline in Clinton County internet wagering of $3,770 for Aug. 31, 2017–Aug. 31, 2018; and Capital District OTB’s Saratoga meet results with a handle increase of $644,747 and an internet-handle increase of $1.9 million over the prior year.
The memo lists a seven-month Capital District OTB handle of $84,025,432 (excluding the Saratoga meet) and says operating expenses were reduced by more than $1 million from 2017 due to branch closures, lease changes, retirements and administrative restructuring. Plattsburgh branch manager Lisa Letourneau received multiple 'Outstanding' ratings during the year and, as of Sept. 24, 2018, the branch had paid total cash disbursements to Clinton County of $23,994. The attached memo also noted an update on sports betting developments but did not list policy decisions or required actions for the Legislature.
Garrant’s written summary was included in the minutes; no additional public comment on the OTB report appears in the record.