Thursday, May 13, 2010

N.Y. Issues Bid Package For Aqueduct Slot Parlor

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The New York state Lottery Division announced on Tuesday that is accepted bids for the franchise to operate a 4,500 VLT slot parlor at the Aqueduct Racetrack in Queens, N.Y.

The new round of bidding, there have been four rounds since 2001, comes after a deal was rescinded with winning bidder Aqueduct Entertainment Group, a bidding process that has triggered investigations by the federal authorities and the state's inspector general's office.

The state lottery agency said it could select a winning bidder in as little as 12 weeks. The governor and the leaders of the state Senate and Assembly must approved the deal. Once selected, the bidder would have to pony up a minimum of $300 million as a franchise fee.

Bids must be submitted by June 29 and the lottery agency said it could make a decision by August 3.

The Mohegan Tribe participated in earlier bidding rounds but was not selected.