ITT Offers to Stop Handling NBA, NHL Bets at Casinos: Officials of the National Basketball Assn. and the National Hockey League are reviewing ITT's deal for Madison Square Garden and its Knicks basketball and Rangers hockey teams. ITT spokesman Jim Gallagher said those discussions are continuing, but ITT has reached a "general understanding" with the leagues on the issue of its sports betting operations. ITT has offered to quit taking bets at its casinos on either the Knicks or the Rangers as soon as the deal is done and to cease taking bets on any NBA and NHL games after an unspecified transition period, he said. The leagues bar team owners from also running sports betting operations.