Vol. 4, No. 1, January 2007
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MGM Mirage to build casino at Aqueduct
MGM Mirage will move forward with building a video lottery terminal casino in Aqueduct, New York, no matter who is ultimately chosen to run the state’s racing franchise.
It notified the state government of its intention and said it can open its casino by late this year.
That decision appears to have little to do with which party the state ultimately chooses to run the state’s racing franchise, which includes Aqueduct, Belmont Park and Saratoga.
It is complicated by the fact that the current holder of the franchise, New York Racing Association, filed for bankruptcy recently. NYRA has a contract with MGM Mirage, to put the VLT casino next to the racetrack. However, the state’s Lottery Division hasn’t yet approved the contract.
NYRA has also asked the state bankruptcy court to confirm its contract with MGM Mirage, which would be operating its casino for part of the time that NYRA has remaining as operator of the franchise.
