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,” [TheDay.com]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.