Aqueduct Casino Deal Collapses... what else is new - Horse Racing Forum - PaceAdvantage.Com

hbeck · 03-10-2009, 06:53 PM

http://cityroom.blogs.nytimes.com/20...deal-collapses

Maybe we'll get to wait another 10 years?

BELMONT 6-6-09 · 03-10-2009, 07:23 PM

Typical that the state of New York simply cannot get things done. It's not NYRA's fault in this matter it is simply the total incompetence of the elected officials in Albany. This deal should have been completed a long time ago...but it's business as usual.

Track Collector · 03-10-2009, 08:27 PM

It appears that MD officials went to the same school as NY officials, as they can't get it done either.

The Hawk · 03-10-2009, 09:28 PM

Quote:

Originally Posted by zappi

Typical that the state of New York simply cannot get things done. It's not NYRA's fault in this matter it is simply the total incompetence of the elected officials in Albany. This deal should have been completed a long time ago...but it's business as usual.

Is anything EVER NYRA's fault?

cj · 03-10-2009, 11:35 PM

Quote:

Originally Posted by The Hawk

Is anything EVER NYRA's fault?

Didn't NYRA get the racing part of the business with the explicit condition they have nothing to do with slots? Is everything NYRA's fault?

samyn on the green · 03-10-2009, 11:51 PM

We can rest assured that the experts in government are handling the casino deal. It has only been seven years since the slots have been approved at Aqueduct. I think the government is doing an efficent and profitable job on this project. We can all look forward to the governments stimulus results and hope they are just as good as the Aqueduct casino results.

Quote:

Originally Posted by cj

Didn't NYRA get the racing part of the business with the explicit condition they have nothing to do with slots? Is everything NYRA's fault?

FantasticDan · 03-11-2009, 01:26 AM

The only reason why the deal has now fallen apart is that Delaware North couldn't gain the financing that would have given them the means to pay NYS the lump payment that was part of the agreement, and which was due in the next few weeks. Instead of extending the deadline for the payment (which DN claimed was all they needed), NYS decided to start the bid process all over yet again.

As an aside, Delaware North owns Finger Lakes, and they made this announcement regarding FL back in June 2008:

http://www.thoroughbredtimes.com/nat...ger-Lakes.aspx

As far as I can tell from my bi-monthly visits, none of those projects (which were supposed to start in 2008) have gotten off the ground at FL.

samyn on the green · 03-11-2009, 02:00 AM

Back in 2003/2004 NYRA's choice to run the slots was MGM Grand. The Vegas gaming master was well on its way to starting the slots at AQU. The Pataki stepped in and stopped construction, then future disgraced gov client number nine exposed a mutuel clerk tax avoiding ring and MGM Grand along with a million a day in state revenue was out the door. Here we are 7 years later and no slots and we have a state billions in debt that could really use the revenue. Why is that revenue not there? So Pataki and client number nine's "boys" could get a piece of the action.

NY BRED · 03-11-2009, 05:29 AM

Reading between the lines, I've told many a friend that a Casino
at the Big A made little sense based upon its location , whereas
Belmont appears to be a better choice based upon location.

"Presuming" an enclosed grandstand and various improvements
were provided by ownership, and the Long Island
Railroad reestablished service to the track, I believe revenue
could be increased therby making for better purses and racing.

I also believe the inner turf course could be eliminated
and an inner dirt and winterized track could be configured to offer
racing as currently offered at the Big A.

That said, The Big A could be closed and Belmont could become
a jewel, including the addition of a luxury hotel high end retail
stores etc..

Of course, based upon present economic conditions this
posting is little more than a pipe dream

pat · 03-11-2009, 06:20 AM

There would be no better location for a casino than Aqueduct due to the fact that the location is excellent for travelers from all over the world .It is 3 stops on the Air Train shuttle which runs from JFK airport Also the air train goes to the A,F,E Trains and Approx,15 MTA buses and the LIRR which will take you anywhere IN NY you need to go without ever stepping into the Elements or even Renting a car You cant do that in VEGAS.Afull casino at AQU would be a mecca of gambling for people all over the world If its done right.

OTM Al · 03-11-2009, 10:24 AM

Quote:

Originally Posted by FantasticDan

The only reason why the deal has now fallen apart is that Delaware North couldn't gain the financing that would have given them the means to pay NYS the lump payment that was part of the agreement, and which was due in the next few weeks. Instead of extending the deadline for the payment (which DN claimed was all they needed), NYS decided to start the bid process all over yet again.

As an aside, Delaware North owns Finger Lakes, and they made this announcement regarding FL back in June 2008:

http://www.thoroughbredtimes.com/nat...ger-Lakes.aspx

As far as I can tell from my bi-monthly visits, none of those projects (which were supposed to start in 2008) have gotten off the ground at FL.

It was also torpedoed by the push for the Belmont casio which would potentially (likely) been run by someone else. Only the politicians seemed to believe that 2 casinos meant twice the revenues. Delaware North may have had financing trouble, but that put the nail in it.

Spendabuck85 · 03-11-2009, 10:44 AM

Quote:

Originally Posted by pat

There would be no better location for a casino than Aqueduct due to the fact that the location is excellent for travelers from all over the world .It is 3 stops on the Air Train shuttle which runs from JFK airport Also the air train goes to the A,F,E Trains and Approx,15 MTA buses and the LIRR which will take you anywhere IN NY you need to go without ever stepping into the Elements or even Renting a car You cant do that in VEGAS.Afull casino at AQU would be a mecca of gambling for people all over the world If its done right.

In Vegas, you never have to leave the Airport to play the Slots.

slewis · 03-11-2009, 10:55 AM

How's about this:

Since the track is no longer privately owned and since the state now owns the property..... How's about they (state) open a Casino at either location (or both) and ALL the proceeds go reduce the tax burden in the state (like it should).

Why should NYRA get a piece of a business they have nothing to do with??

I own a Dunkin Donuts store.... Do I get a piece of the new Starbucks business that opened down the street??

With the downturn in the economy, NYRA certainly wont live up to the benchmarks as part of the new agreement. This give the state leverage to tell them to shut up and run racing or step down as franchisee.

Oh, wait, I forgot about political contributions and clout on the NYRA board.
How things are done in the USA, oops.

Sorry PA, delete this post please.

The Hawk · 03-11-2009, 11:08 PM

Quote:

Originally Posted by Spendabuck85

In Vegas, you never have to leave the Airport to play the Slots.

Not for this particular reason, but for the mood there in general, Vegas is truly the greatest city in the world.

Quote:

Originally Posted by CJ

Didn't NYRA get the racing part of the business with the explicit condition they have nothing to do with slots? Is everything NYRA's fault?

Absolutely. It's just funny that any time something negative happens the immediate response is "IT'S NOT NYRA'S FAULT!!!!"

NYRA officials have never made a bad decision, ever. It's everyone else that screws them up.

PaceAdvantage · 03-12-2009, 07:47 PM

Quote:

Originally Posted by slewis

Sorry PA, delete this post please.

Are you being serious?