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Western OTB CEO announces retirement after 29 years

After 29 years of driving Western Regional Off-Track Betting, Martin Basinait is stepping down as CEO.

Basinait announced his retirement to the OTB board in a letter yesterday.

His legacy will be the revival of Batavia Downs. It was Basinait who convinced OTB to buy the vacility and bring back horseracing.

Dick Seibert said it was also Basinait who championed the addition of video lottery terminals.

"Horseracing is a declining industry and there's nothing you can do about it," Seibert told WBTA. "Without the VLTs, we would be facing a dismal future. We have a bright future now."

Basinait's resignation is effective in February 2011. The board will now begin the search for a new CEO.

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