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Steve Wynn folds on Aqueduct racino
Crain's New York,
Wednesday, November 4, 2009 at 4:58:24 PM
Las Vegas casino mogul Steve Wynn has abandoned his bid to run a slot parlor at Aqueduct Racetrack, whittling the field of hopefuls for the potentially lucrative license down to five.
The withdrawal of Mr. Wynn, who had been considered among the front-runners, leaves two favorites remaining, according to a source connected to the process but not affiliated with any of the bids. Penn National Gaming, a one-time dark horse that has gained momentum, and SL Green, New York City's largest commercial landlord, are now leading the field, the source said.
The winning bidder is expected to be chosen within two weeks by a triumvirate of Gov. David Paterson, Assembly Speaker Sheldon Silver and Senate Democratic conference leader John Sampson. The bidders' ability to guarantee a hefty upfront payment to the state will be the overriding factor in any decision.
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