Posted Feb 2, 2010, 2:36 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,914
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http://www.gamingtoday.com/industry-...?storyid=24488
Woolf prevails on slots at Aqueduct
(February 01, 2010 4:40 PM)
Industry Insider by Ray Poirier
After months of speculation, Aqueduct Entertainment Group (AEG), headed by Larry Woolf’s Navegante Group, has been chosen as the developer and operator of a slots facility at Aqueduct racetrack in New York.
The announcement, made by N.Y. Gov. David Paterson, ends months of political infighting that has kept the selection process from identifying the winner from a half-dozen bidders.
To get the license, however, AEG will have to pay the state an upfront fee of $300 million, the figure required to insure the approval of Assembly Speaker Sheldon Silver, who with Paterson and the Senate Majority Leader were empowered by legislation to choose the operator.
A major factor in AEG’s success was the promise by Woolf, who was responsible with the development of MGM Hotel/Casino and currently operates a number of gaming facilities in Nevada, to have Aqueduct up and running in six months.
Participating with Navegante in AEG are GreenStar Services Corp, Turner Construction Co., Levine Buildings, The Daman Group Inc., Empowerment Development Corp., PS&S Design, Siemens AG, and Clairvest Group Inc.
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