Genting bid OK’d for Aqueduct racino

New York Lottery officials recommended Malaysian gaming giant Genting to operate a long-awaited, 4,500 video-slot casino at the Aqueduct race track in Queens, Crain’s reported. Genting was the only competitor left in the bidding war to run the multibillion-dollar slot casino after state gaming officials disqualified two other bidders last month. Genting offered a $380 million upfront licensing fee, well above the required $300 million and $55 million more than any other bidder had offered. The Lottery Division will forward its recommendation to Gov. Paterson, and the leaders of the state Assembly and Senate must sign off on the deal as well. [Crain’s]

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