Staff & Wire Reports |
Gov. David Paterson says he and legislative leaders have chosen Aqueduct Entertainment Group from among five bidders to operate the video lottery terminals at Aqueduct Racetrack in Queens.
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According to Paterson, AEG has the ability to pay the upfront licensing fee, financial viability and best fulfills the selection criteria, though all groups had valid proposals. It has been eight years since lawmakers approved a plan to install as many as 4,500 of the gambling machines at the thoroughbred track. In November, Steve Wynn of Wynn Resorts (WYNN) appeared to have said thanks but no thanks to the chance to operate slot machines at Aqueduct despite the fact that well-positioned observers of the selection process saw him as the favorite just a couple months earlier. Penn National (PENN) was another of the bidders who wanted Aqueduct. The New York Racing Association has threatened to cancel the Belmont Stakes if lawmakers don't get moving on the plan expected to boost the track's revenues.
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