New Bidders in Albany

Eliot Spitzer is looking for new bidders to operate the video lottery terminals at Aqueduct Racetrack.

In a public statement from the budget division:

The State is considering two alternative models for the development and operation of the Aqueduct VLT facility. Under one approach, the state would own the gaming facility and finance its construction. The state would also contract with a gaming operator to manage the facility for an agreed upon fee plus a performance bonus or profit sharing arrangement. Under an alternative approach, the gaming operator would be responsible for the operating, capital and other expenses associated with the development and operation of the gaming facility, and would retain excess VLT revenues after making the statutory payments for education and racing and covering these operating and capital expenses.

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