The public benefit corporation created to handle horse racing bets away from tracks says it will layoff thousands of employees and close its many betting parlors and teletheaters.
OTB is giving official notice to the unions representing its workers.
Although the Assembly approved Gov. David Paterson's plan on Tuesday, the Senate decided it needed more time to consider the complex proposal.
The Senate's Democratic majority adjourned Monday's special session and didn't return Tuesday, as the Assembly did.