From left: SL Green’s Marc Holliday and Penn’s Peter Carlino

Just one bidder is left vying to develop and operate the Queens Aqueduct racino project after proposals by SL Green and Penn National Gaming were disqualified yesterday for not conforming with the requirements of the competition, Crain’s reported. A late entry by Genting New York, part of a Malaysian investment firm that operates foreign casinos, is now the de-facto front-runner for the lucrative contract. If state Lottery officials do not approve the Genting application, it could force an already controversial and long-delayed project into its sixth round of requests for proposals as neither SL Green nor Penn National will be eligible for reconsideration. Former bidders Delaware North and Empire City/Yonkers Raceway pulled out of the competition because they did not want to comply with the requirements of the state’s most recent RFP, but Lottery officials said yesterday that neither SL Green nor Penn National came close to following the rules, either. Following the rejection, a spokesperson for SL Green called the Lottery’s application was “totally unreasonable.” [Crain's]

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The state’s fifth round of requests for proposals to develop and operate the long-delayed Aqueduct racino in Ozone Park, Queens drew three bidders before yesterday’s deadline, Crain’s reported. Still in the running are Genting New York, an arm of a Malaysian investment firm that operates foreign casinos, Penn National Gaming and a partnership between SL Green and Toronto-based Clairvest Group. Each has agreed to pay $300 million upfront if selected. Both SL Green and Penn National were part of previous failed rounds of bidding, while Clairvest was a partner in Aqueduct Entertainment Group’s winning — but then aborted — bid in the last selection round and had submitted its own $1 million refundable entry fee into the bidding process earlier this month. In a controversial move last year, the state awarded a contract to AEG, only to withdraw its support after the group was denied a gaming license and an investigation was launched into the selection process. Empire City Casino at Yonkers Raceway and Delaware North, both of which had initially entered the bidding contest earlier this month, have both dropped out of the running. The state’s Lottery Division plans to review the submissions over the next five weeks and to make a recommendation to Gov. David Paterson, who will be bound by the agency’s pick, Aug. 3. [Crain's]

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The state’s fifth round of requests for proposals to develop and operate the long-delayed Aqueduct racino in Ozone Park, Queens drew three bidders before yesterday’s deadline, Crain’s reported. Still in the running are Genting New York, an arm of a Malaysian investment firm that operates foreign casinos, Penn National Gaming and a partnership between SL Green and Toronto-based Clairvest Group. Each has agreed to pay $300 million upfront if selected. Both SL Green and Penn National were part of previous failed rounds of bidding, while Clairvest was a partner in Aqueduct Entertainment Group’s winning — but then aborted — bid in the last selection round and had submitted its own $1 million refundable entry fee into the bidding process earlier this month. In a controversial move last year, the state awarded a contract to AEG, only to withdraw its support after the group was denied a gaming license and an investigation was launched into the selection process. Empire City Casino at Yonkers Raceway and Delaware North, both of which had initially entered the bidding contest earlier this month, have both dropped out of the running. The state’s Lottery Division plans to review the submissions over the next five weeks and to make a recommendation to Gov. David Paterson, who will be bound by the agency’s pick, Aug. 3. [Crain's]

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Bidders on the Aqueduct racetrack in Ozone Park, Queens, will have to prove their ability to pay the state $200 million within 30 days of winning the redevelopment rights to the project, Governor Paterson wrote in a letter to the companies on Friday. The request is likely to pare down the list of six bidders, which includes SL Green, MGM Mirage and Penn National Gaming, because most would need to revise their original project plans in order to comply with the request. SL Green has offered $275 million for the Aqueduct, but only $125 million would be paid upfront. Providing more money from the get-go would allow the governor to follow through on his plans to reduce the budget deficit by $5 billion, while ensuring that the winning bidder does not back out. Last year, Delaware North won the rights to the Aqueduct project but could not come up with enough cash. The group is again vying for the winning bid. Bidders have until Nov. 6 to reply to Paterson’s letter. Paterson, along with Assembly Speaker Sheldon Silver and temporary Senate President Malcolm Smith, will ultimately select the winner. [Crain’s]

The New York Daily News looks at the proposals, released yesterday, from two of the seven companies vying to redesign the Aqueduct race track. Aqueduct Entertainment Group has proposed a “racino,” which would have seven sections, each modeled on a different New York City neighborhood. The plan calls for 650 video slot machines in each section and a theme restaurant. All of the slot machines could be operational by November 2010. SL Green drafted a plan, in partnership with Hard Rock, that calls for a buffet and food court with 2,000 slot machines that could be running in six to eight months. MGM, Delaware North, Steve Wynn, Mohegan Sun and Penn National Gaming are also in the running to develop the race track. [more]