Inept NY State Government still at it!!
NY Disqualifies Two of Three Casino Bidders
By Tom Precious
Two of the three remaining bidders for the Aqueduct casino project have been disqualified, leaving a Malaysian-based company as the sole bidder left in the running.
But Genting New York is still not guaranteed the rights to the Aqueduct casino, which has been delayed by a remarkable array of legal and political twists since the Legislature first approved the gambling facility nine years ago.
The state Lottery Division, which is running the racino bidding process, said two different bids—by Penn National Gaming and by a separate consortium led by SL Green, Hard Rock Entertainment and Toronto-based Clairvest Group—were disqualified after failing to "conform" with the bidding requirements.
But all is not as it seems in the chaotic process that has caused three different gubernatorial administrations in New York to be involved in the Aqueduct casino bidding project. The latest moves threaten to delay final action until 2011—when yet another new gubernatorial administration takes office Jan. 1.
Though Genting on the surface would appear to be the sole survivor of the bidding wars, its selection is far from certain. The company, owned by Genting Malaysia Bhd., will still have to be tapped by the Lottery Division and then by Gov. David Paterson and the heads of the state Legislature in a unanimous vote. It is far from certain to happen at this point.
Gordon Medenica, the lottery director, said in a statement July 6 that Penn National and the consortium led by SL Green "did not conform with the requirements of the competition and, instead, attempted to negotiate for terms more favorable to the bidders."
The decision creates more uncertainty for the Aqueduct casino, which horsemen, breeders and the New York Racing Association have been counting on to provide a positive shot to the industry in the state. The casino is approved for at least 4,500 slot machines. The state is banking on at least $1 million a day in revenue-sharing proceeds, and the racing industry sees the casino as providing a counterpunch to competition to purse offerings in neighboring states.
State lottery officials would only say that Genting appears to "conform with all requirements" of the bid details.
Bidders have raised concerns that a minimum $300 million upfront payment from the winning casino developer to the state is not refundable—whether or not final terms are agreed to between the winning bidder and the state. There are also worries the state will change future revenue-sharing arrangements to make the winning bidder's deal less profitable and concerns about a possible casino—maybe owned by a Long Island Indian tribe—at nearby Belmont Park racetrack that would dilute the Aqueduct casino investment.
The state, under the latest bidding procedure, expects to name the Lottery's selection by Aug. 3.
Somebody (Bob Barry?) needs to do a serious article (or book) on this whole thing.
I\'m telling you, this will go on until the \"right\" outfit ends up with it.
TGJB Wrote:
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> Somebody (Bob Barry?) needs to do a serious
> article (or book) on this whole thing.
>
> I\'m telling you, this will go on until the \"right\"
> outfit ends up with it.
Did you mean Dave Barry? I think Carl Hiassen could do justice to the absurdity of NYS politics, though I can\'t imagine he\'d ever run out of material in South Florida. No reason the Sunshine State should have a monopoly on authors who skewer native incompetence.
No, I\'m referring to one of the posters on this site, who works for the world\'s greatest newspaper, but as far as I know has only written one article that was published in his life-- but it was as good a racing article as I have ever read. And not because it quoted me, though that obviously helped.
You could title the book, \"My Vision of New York Racing\", by Governor Patterson.
He may be a little long in the tooth, but the man who has already written great
books about 2 of NY\'s favorite sports, organized crime (\"The Gang that Couldn\'t
Shoot Straight\") and baseball (\"Cant Anyone Here Play This Game?\"), and has admitted
to spending a little time at the track back when it was fashionable, might be the
man for the job.
Jimmy Breslin\'s biography of Damon Runyan is also a great read and brings to mind
the Pete Axthelm quote \"The only thing better than a lie is a true story which no
one can believe.\"
If you need more proof read this ...
http://www.nytimes.com/2010/07/08/nyregion/08otb.html?hpw
The Gang That Couldn\'t Shoot Straight is a pretty funny movie too - and along with The Valachi Papers it has a quint-essential Horse racing scene . Don\'t know exactly how this would potentially come to be but perhaps , in a matter of speaking , racing winds up like \" Bob The Gambler \" . It s mysterious imo that control of racing has been wrestled away from those who could seemingly make it profitable for all - Albany probably needs to get it\'s act together . ..