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Nov. 05, 2009
Copyright © Las Vegas Review-Journal

Wynn retracts Aqueduct bid

By HOWARD STUTZ
LAS VEGAS REVIEW-JOURNAL

Wynn Resorts Ltd. has pulled out of the bidding process to operate a potentially lucrative casino at the historic Aqueduct Racetrack in New York City.

The surprise move Wednesday left five bidders competing for the right to operate 4,500 slot machine-like video lottery terminals at Aqueduct.


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    • The process, which began earlier this year, is expected to be completed in the next few weeks. New York Gov. David Paterson and legislative leaders are expected to select the winning bidder.

    Five groups and partnerships, each with a casino operation component, are bidding for the Aqueduct license. Wynn was the only solo bidder and reportedly had the most expensive project. However, Wynn Resorts Chairman Steve Wynn publicly said the casino wouldn't open until 2011.

    New York leaders have said they want the casino to open by next year. Last week, Paterson sent a letter to the bidders asking each to provide proof it can pay the state $200 million upfront within 30 days of being selected.

    In a statement released by a New York public relations firm, Wynn Resorts said it was confident the state would "find a qualified operator to meet its needs at Aqueduct."

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    shelli wrote on November 10, 2009 10:15 AM: how much was his bid? who will end up with it how much will they pay?


    Bugsy wrote on November 05, 2009 08:45 AM: When a State demands money up front it's desperate or doesn't trust the operator.

    It the latter is the case it should not choose the bidder.

    If it's the former the concession will be worthless as the State is broke and it's next move will to crush it's citizens with unpayable levels of Taxes. Gambling will be a luxury the can't afford.

    Futhermore, the impurtenance and arrogance of the politicians is breath taking.

    This country is going down the crapper when politicians emulate the Wall Street banksters.