Tuesday, July 6, 2010

Three Groups Bid On NYC Aqueduct Slot Parlor

Feather News

Only three groups submitted bids before last week's deadline to build and operate a 4,500 VLT slot parlor at the Aqueduct Racetrack in Queens, N.Y., according to the state's lottery division which is in charge of the bidding process.

The three groups are Penn National which is the company that sold the Pocono Downs racetrack in Pennsylvania to the Mohegans, Genting New York, LLC which is a subsidiery of the Malaysian gaming group that financed Foxwoods, and the third group is comprised of SL Green, Clairvest Group Inc. and Hard Rock International.

The Mohegan Tribe declined to participate in this latest round of bidding.

Details of the bids have not been disclosed but the New York Lottery Division is expected to select the winning bidder by August 3. The winning bidder must commit to an up-front payment of $300 million.