Two Groups Reveal Design Plans For Aqueduct Renovation

One Plan For Aqueduct Renovations Include Slot Machines, Bar, Theme Restaurants

Aqueduct Entertainment Group and SL Green Realty, two of the seven companies bidding to turn Aqueduct Race Track "into a glitzy, Vegas-style video slots emporium," yesterday released details of their "dramatic proposals," according to Kenneth Lovett of the N.Y. DAILY NEWS. Aqueduct Entertainment's plans call for a "'racino' with seven sections designed to mirror city neighborhoods," and each "would have 650 video slot machines, a bar and theme restaurants, like a Jewish deli for the lower East side." Aqueduct Entertainment officials said that around 1,200 video slots "could be open by April," and all 4,550 machines "would be running by November 2010." The company also indicated that a 300-room hotel, garage, racing museum, shops, restaurants and 2,500-seat entertainment center "would be done in 2012." Meanwhile, SL Green has "partnered with Hard Rock to draft a rival plan that includes a 425-seat buffet and eight-station food court." There would be a Hard Rock "memorabilia bar, a club for VIP players and retail stores." SL Green CEO Marc Holliday said that 2,000 slot machines "would be up in six to eight months." Lovett notes MGM, Delaware North, Mohegan Sun, Penn National Gaming and Las Vegas-based developer Steve Wynn also are vying for the contract (N.Y. DAILY NEWS, 7/23).

GETTING OFF THE TRACK? In N.Y., David Seifman reports the N.Y. Off-Track Betting Corp. (OTB), which has debts of $46M and is "facing mounting losses each day," is "considering the unthinkable -- bankruptcy." Sources said that bankruptcy was "one of the options discussed in a hastily called meeting" of the OTB BOD Tuesday. OTB's finances "have become increasingly dire" since N.Y. Mayor Michael Bloomberg "turned over the money-losing operation to the state in June 2008 before the cash ran out" (N.Y. POST, 7/23).

COURT REPORT: In Baltimore, Laura Smitherman reported the Maryland Court of Appeals Monday "ruled that a dispute over Laurel Park's disqualified bid to open a slot-machine casino should be decided by a state contracting board before being litigated in court." The Maryland Racing Commission had "tossed out a bid to put slots at Laurel Park" after track Owner Magna Entertainment Corp. failed to submit $28.5M in "required license fees." The court ruling "forces Laurel Park to wait until the commission awards licenses before the track owners can mount another legal challenge to what they characterize as a flawed process" (Baltimore SUN, 7/21).