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New Bid Proposals for Aqueduct Casino Project

Friday, 9th April 2010

In New York, state officials "are preparing as early as this week to release new bid proposals for the delayed Aqueduct casino project, with a winner expected to be selected possibly by the end of June," reported bloodhorse.com. After heavy criticism (& 2 pending state & federal investigations) of the way a recently scuttled Aqueduct bidding process was run, Governor David Paterson & legislative leaders "have tentatively agreed to re-do the bidding to more closely mirror how other state government procurement bids are handled". All bidders "must be able to demonstrate they can pay at least a US$300 million up-front, franchise fee payment to the state, which must be paid in full within about 10 days of being selected & a memorandum of understanding signed with the state". The governor & legislative leaders "would like to count that revenue in the state's financial plan as part of current talks over the unresolved 2010 budget, which has a US$9.2 billion deficit".

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