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  • Indian Charlie sire of Nechez Dawn 1st Alw (May 23, 7th AP). Owner, Tresner, Coby and Matsas, Alex; Breeder, B. P. Walden Jr., Hargus Sexton & SandraSexton...
  • Latent Heat sire of Heated Troubles 1st Mdn (May 24, 5th RD). Owner, Ashleigh Stud; Breeder, Ashleigh Stud, Frank Ramos & JackieRamos...
  • Hard Spun sire of Gleaning 1st Mdn (May 23, 4th PID). Owner, Robert T. Manfuso; Breeder, Nursery Place & Robert T. Manfuso...
  • Hard Spun sire of Ribbon Taffy 1st Mdn (May 23, 5th IND). Owner, Pucek, John Paul and Marcinek, Paige; Breeder, Matthew R. Herbener...
  • First Samurai sire of Nakano 1st Alw (May 24, 8th CRC). Owner, Thoroughbred Futures Racing; Breeder, Hubert Vester...
  • Arch sire of Wiki 1st Alw (May 24, 2nd PID). Owner, Midwest Thoroughbreds, Inc.; Breeder, Stuart S. Janney, III LLC....
  • Wando sire of Deb's Girly Girl 1st Alw (May 24, 6th RD). Owner, Deborah F. Metz; Breeder, Deborah F. Metz...
  • Posse sire of Parody 1st Alw (May 23, 4th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Don Mattox & Pam Mattox...
  • Flower Alley sire of Bouquet Booth 1st Alw (May 24, 7th CD). Owner, Right Time Racing LLC; Breeder, Brookdale & Dr. Ted Folkerth...
  • Smoke Glacken sire of Walker Bay 1st Alw (May 24, 8th CD). Owner, Hammersmith, Dennis L. and Paden Racing, Inc.; Breeder, Brian O'Rourke & Derry Meeting Farm...
  • Chapel Royal sire of Mr Rodriguez 1st Mdn (May 24, 2nd BEL). Owner, Imperio, Michael and Loftus, Elizabeth; Breeder, Jill Imperio & Daniella Corian...
  • Holy Bull sire of Catalan 1st Alw (May 24, 8th BEL). Owner, Elizabeth Loftus; Breeder, B. P. Walden & Dr. S. Marcum...
  • Petionville sire of Wups 1st Thoroughbred Maiden Derby (May 23, 9th BOI). Owner, Paul Treasure; Breeder, Michael Iavarone...
  • Mancini sire of Ride Around Sally 1st Alw (May 23, 6th IND). Owner, Joe Uliano; Breeder, Spade Stable...
  • Benchmark sire of Planet Sunshine 1st Alw (May 24, 5th GG). Owner, Thomas A. Shapiro; Breeder, Thomas Shapiro...
  • Jazil sire of Love Me Good 1st Mdn (May 23, 2nd PID). Owner, Sheltowee Farm and Blazing Meadow Farm; Breeder, Sheltowee Farm...
  • Canadian Frontier sire of Golden Frontier 1st Alw (May 24, 3rd CD). Owner, George Fister; Breeder, Brereton C. Jones...
  • Strut the Stage sire of Head Honcho 1st Alw (May 23, 7th WO). Owner, Annecchini and D'Alimonte Holdings Inc. and Kingfield Farm; Breeder, William D. Graham...
  • Luftikus sire of Joyful Kiss 1st Alw (May 23, 7th CT). Owner, Winfred L. Hess, Jr.; Breeder, Ann M. Casey...
  • Tribal Rule sire of Italian Rules 1st Alw (May 24, 7th BHP). Owner, Barber, Gary and Cecil; Breeder, Nick Cafarchia...
  • City Weekend sire of City Sweets 1st Mdn (May 23, 3rd IND). Owner, Mast Thoroughbreds LLC; Breeder, Robert Gorham & Mast Thoroughbreds LLC...
  • Medaglia d'Oro sire of Dealer 1st Alw (May 23, 8th CT). Owner, Coleswood Farm, Inc.; Breeder, Family Broodmare, LLC...
  • Proud Citizen sire of Citizen Kat 1st Alw (May 23, 7th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Mark Reid & Charles Zacney...
  • Philanthropist sire of Rob the Cradle 1st Alw (May 23, 2nd WO). Owner, Andrews, Denny and Paradox Farms Inc.; Breeder, Gardiner Farms Limited...

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Gov. Patterson asks Aqueduct racino bidders for upfront payment

Posted: Wednesday, November 04, 2009 10:19 AM

by Paul Post

Groups seeking the Aqueduct gaming contract have until Friday to once again submit their best and final offers to the state.

In a surprise move, New York Gov. David Paterson’s office sent a letter to all six bidders on October 30, after business hours, to see which firms are willing and able to make a $200-million upfront payment to the state, payable within 30 days of a signed memorandum of understanding. The bidders must submit documentation proving their financial ability to provide such money.

The state’s latest request caught bidders off guard, however, because they have already made upfront offers ranging from $100-million to $250-million and thought the state was close to making a decision.

“This isn’t one that was welcome,” an official close to the selection process told THOROUGHBRED TIMES on condition of anonymity. “Bidders already submitted ‘best and final’ offers more than once. Suddenly, they’re told the upfront payment needs to be increased by a sizable percentage. These guys [state leaders] have not shown themselves well in Albany [the state capital].”

The state is facing a $3.1-billion deficit and Gov. Paterson now wants to get at least $200-million from Aqueduct to help balance the budget. The state wants written documentation about financing to avert last year’s problem, when Delaware North Companies pledged the state $370-million, but could not secure financing to meet a March 31 deadline.

Penn National Gaming has reportedly offered the highest upfront payment, $250-million. Now, groups with lower bids may match that bid.

“Who can count anything out?” the official said. “If I was Penn National I wouldn’t be too happy.”

Penn National said it has cash on hand and does not need a partner to provide financing. Penn National Vice President Chris McErlean said, “We haven’t made any decisions with regard to adjusting our bid. We’ll review that and see if any adjustments are necessary. We feel we’ve put in a fairly substantial bid. The cash upfront payment speaks for itself. We’ve shown the state we’re ready to finance it ourselves. We’ve been complying with the process. It’s been a very fluid one.”

The state’s latest request for information indicates that a decision is not imminent, meaning the racino may not open in 2010. Once the state selects an operator, it will take at least ten months for the first video lottery terminals to be operational.

Paul Post is a New York-based correspondent for THOROUGHBRED TIMES

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