Saturday, May 22, 2010

Aqueduct, take 3

From Crain's:

Indefatigable bidders are gearing up to participate in the latest of a long-running series of races to become the operator of a lucrative racino at Aqueduct Racetrack in Queens.

More than 120 questions regarding the request for proposal, which was issued last week by New York Lottery, were submitted from five different entities ahead of the Tuesday afternoon deadline, according to a spokeswoman for the Lottery Division. The division, which oversees eight casinos statewide, declined to disclose the identities of the interested bidders. But one of the four losing bidders from the previous round, Penn National Gaming, admitted to submitting questions.

The three other losing bidders were Manhattan's largest commercial landlord—SL Green, Delaware North's Aqueduct Gaming, and The Peebles Corp., which teamed up with MGM Mirage. The Peebles Corp., Delaware North and SL Green all declined to comment.

According to the new RFP, bidders must submit a refundable $1 million entry fee by June 1 to participate in the bidding. All proposals are due by June 29 and bidders are required to make a minimum $300 million upfront payment.

The Lottery Division will score bidders and present recommendations to Governor David Paterson and legislative leaders for final approval. Unlike the previous round, however, sources say Mr. Paterson will be bound by Lottery's pick this time. Assembly Speaker Sheldon Silver and Senate Majority Conference Leader John Sampson will also have to sign off on the recommendation.

1 comment:

Anonymous said...

Bailout OTB, close hospitals. :D