An investigation by the office of state attorney Eliot Spitzer into the non-profit organisation New York Racing Association, which runs the area's top horse racing tracks, found that tellers ran money-laundering and loan-sharking schemes and stole from inexperienced gamblers.
Among the tracks cited as central to the scams were renowned venues such as Belmont, Saratoga and Aqueduct.
Barry Schwatrz, NYRA's chairman, responded by labelling Spitzer's report as "ridiculous and filled with inaccuracies, lies and misquotes".
A report by the state attorney general's office has concluded that New York's top horse racing tracks are run by "loan sharks and scam artists".
