NEWS
Genting clears another hurdle in bid to operate Aqueduct VLTs
Posted: Tuesday, August 10, 2010 3:19 PM
by Paul Post
New York Senate majority leader John Sampson (D-Brooklyn) has formally endorsed Genting New York to operate video lottery terminals at Aqueduct, moving the long-awaited project one step closer to reality.
Gov. David Paterson has already pledged to accept the Division of Lottery’s recommendation that Genting run the machines, which only leaves Assembly Speaker Sheldon Silver (D-Manhattan) approval as the only missing piece to the puzzle.
Racing committee Chairman Eric Adams (D-Brooklyn) and two other Downstate senators heard a formal presentation from Genting on Monday in Manhattan. Afterward, Adams said he planned to contact Silver immediately to urge him to finalize the Aqueduct deal as quickly as possible.
“Nothing is more important than creating jobs. The acceptance of Genting puts New York on the fast track to rebuild our local and state economy through sound economic development and immediate and long-term job creation,” Sampson said.
The announcement is also extremely welcome news to New York’s Thoroughbred industry. New York Racing Association will receive 7% of gross gaming revenues with another 6.5% going to purses during the first three years and 7.5% thereafter.
Silver’s office said the Assembly leader is continuing his review of Genting’s proposal, but offered no timeline for a final agreement.
“We expect to wrap up shortly,” spokesperson Sisa Moyo said.
Paul Post is a New York correspondent of Thoroughbred Times
