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#1
09-13-2010, 06:54 PM
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Operator for Aqueduct casino gets state comptroller's approval
By Matt Hegarty New York’s state’s comptroller on Monday approved a contract giving a Malaysian company a 30-year right to operate a casino at Aqueduct racetrack, paving the way for construction to begin on the casino sometime this fall. Comptroller Thomas DiNapoli’s approval was the last required to put the contract into force, after prior approvals from state legislative leaders and the state attorney general. The Malaysian company, Genting New York, now has 10 days to forward the state a $380 million upfront payment. After the payment is made, and after a review of the environmental impact of the project – a process that is expected to take approximately 30 days – the company can break ground. DiNapoli’s approval followed nine years of torturous maneuverings to name an operator for the casino following the legislative approval of slot machines at racetracks late in 2001. The state lottery had conducted three bidding rounds for the contract, with the first two winners eventually disqualified for financial or political reasons. In the final round, Genting was the only operator who met the lottery’s requirements. “After nearly a decade of false starts and broken promises, the [slot-machine] contract is done,” DiNapoli said, in a statement. “This is one of the most important vendor contracts New York has ever signed.” Stefan Friedman, a spokesperson for Genting, said that the $380 million upfront fee will be forwarded to the state within 10 business days. The company remains confident that 1,600 machines will be up and running at Aqueduct by April, and that the full project will be completed by the end of 2011, aside from some aesthetic touches.
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All ambitions are lawful except those which climb upward on the miseries or credulities of mankind. ~ Joseph Conrad A long habit of not thinking a thing wrong, gives it a superficial appearance of being right. ~ Thomas Paine Don't let anyone tell you that your dreams can't come true. They are only afraid that theirs won't and yours will. ~ Robert Evans The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. ~ George Orwell, 1984. 
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#2
09-27-2010, 12:59 PM
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$380,000,000 check today
http://www.cbs6albany.com/news/today...ract-year.html http://saratogian.com/articles/2010/...0344974894.txt http://albany.bizjournals.com/albany...27/daily5.html
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Tom Cooley photo Last edited by richard : 09-27-2010 at 02:50 PM.
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#3
09-27-2010, 01:32 PM
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Freddy was wrong? How is this possible? He was SO due to be right.
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Just more nebulous nonsense from BBB
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#4
09-27-2010, 01:38 PM
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 Quote:
 Congrats, New York.
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#7
09-30-2010, 06:40 PM
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 State Lottery Division Director Gordon Medenica (l.) and Genting New York President Mike Speller pose with the $380 million check Genting is giving the state to complete the Aqueduct video lottery terminal deal. Photo courtesy Gov. David Paterson's office. http://www.yournabe.com/articles/201...t_20100930.txt
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Tom Cooley photo
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