Suffolk County Off-Track Betting Corp. has made a record $7.25 million quarterly payment to the county, despite limited operations at Jake’s 58 Hotel & Casino during the coronavirus pandemic, officials said.
OTB transferred $7,258,614 on April 30, as the Islandia casino, Suffolk OTB’s biggest moneymaker, continued to operate at 25% capacity because of the pandemic, officials said.
OTB’s contribution to Suffolk County — larger than any annual transfer OTB has made to the county since 1989 — came after OTB’s emergence from bankruptcy last year. The betting agency finished paying off nearly $78 million in total debt in 2020, officials said.
“This is a jackpot for Suffolk County taxpayers and a testament to the hard work of the talented women and men of this organization,” Suffolk OTB President and CEO Jim LaCarrubba said in a statement.
