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Off-track betting racing gamble pays big dividends

3 Feb 2010

BATAVIA, NEW YORK -- An investment in a near-bankrupt racetrack 11 years ago has paid off handsomely for Western Regional Off-Track Betting Corp, The Buffalo News reported.

The investment, including renovations ($12 million), of $14.4 million, was paid for by revenues from off-track betting parlors, the report said.

WROTB made $3 million in profit in 2009, according to the Buffalo News.

WROTB's luck changed when legislation allowed racetracks to install video lottery terminals, the Buffalo News report noted.

 
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