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Saturday, May 09, 2009

Six Is Enough

I'd love to write in more detail about the six bids which were received, apparently right at the 5PM deadline time, for the Aqueduct racino; and analyze the various offers to see who's come up with what. However, there's currently little more to say than to state the names of the bidders, as we've already seen in various reports. This process has now gone from the total transparency of the Ad Hoc Committee, to the opaque cloak of secrecy behind which Governor Paterson devised his budget, and where he has seemed to find his comfort zone. Not only has his office not released any details of the offers, but we don't even know who all of them are; the identities of exactly who comprises the Aqueduct Entertainment Group is unknown.

We did get some good information here. Indeed, Jeff Gural is part of the SL Green bid; and developer R. Donohue Peebles made on offer, though in a rather strange twist, he's a partner in the Delaware North team too. So we'll have to couple those in the wagering. As far as a NYRA/MGM/Ilitch partnership goes, that didn't come to fruition....unless they are Aqueduct Entertainment?

The surprise new faces - at least those who know at least a little about - are Penn National, which has never before to my memory expressed an interest in the New York gaming market and a group called Development Associates, said to be a subsidiary of Wynn Resorts. You may recall that Steve Wynn added a little comic relief to the proceedings a couple of years ago.

Mohegan Sun did not submit a formal offer, just one to manage and operate the facility in the case that the state built the facility itself. (Some publications referred to them as one of seven bidders.)

”After careful consideration, the Mohegan Tribal Gaming Authority and the MTGA Management Board have determined that an investment of capital and resources in this opportunity, at this time, does not align with our stated goals to continue to strengthen our balance sheet,” []
I'm a bit surprised that so many others did not feel that way, and that there are so many bidders. I recall how long it took the three men in the room to select Delaware North when there were just three, not to mention how they got it totally wrong. One can only imagine how and when they'll be able to choose from amongst six.


Anonymous said...

I want to lodge a claim of foul.

Del No should be disqualified as a participant based on their failure to fund their prior winning bid.

They had their chance, and their intentionally misleading bid chased a serious bidder back down under.

Anonymous said...

Alan, the only place you can get information on tHe state's most valuable pending contract is here!

NYRA's bid using the old MGM plans and permits may be with Peeebles' announced solo bid, presuming the Ilitch deal with Major League Baseball wasn't kosher and moving the Shinnecocks too far west didn't pass muster in Washington D.C.? Your guess is as good as mine as to how Peebles is treated for leaving the DelNorth fold.

Penn National was a proposed bidder at some point early on during the new Spitzer bids, right after he threw out Pataki's work in early 2007. They didn't make the final round.

I'll be curious to see who shows up in the Wynn bid, if indeed it is any of his former Excelsior partners.

Aqueduct Entertainment must be the mystery group that several have mentioned. I like the name, so we'll see.

The StaTe can't keep the whole thing to themselves, or can they?

Jim L said...

Manny Ramirez is out for 50 games, but Patrick Biancone is still playing ball. Ball Four, trained by Biancone won the Grade 2 Mervyn LeRoy Handicap.

How many outs do they give in the game of racing?

Biancone banned in Hong Kong, accused of cobra venom and contacting his staff while on suspension in the U.S. That makes at least two strikes, or two very big outs.

Anonymous said...

Who now doesn't believe Saturday Night Live's parody of David Patterson as governor wasn't 100% accurate. His stupidity has nothing to do with his blindness. He does his best work when others can't see what he is doing, hence the blind leading the blind approach he is utilizing.

Anonymous said...

Hard to guess what "motivates" Governor David Paterson in this VLT determination? I'm not sure this time he should let political markers that are being played lead him to another inferior decision. It's so obvious Governor what is happening in regards to this gaming franchise award. New Yorker's appreciate the fact that you can not see, but good sense and wisdom have nothing to do with eyesight.

Anonymous said...


The only press thus far outside LATG comes from DelNorth's self promoting press releases and interviews. One sure would be lead to believe that this is a one horse race.

Something just doesn't seem right if they are selected again? Maybe the three men, or whatvere forces are pushing a decision on this thing, will weigh in on more than just a phony franchise fee number! We'll see soon enough.