Winning Aqueduct Bidder Loses a Partner

aeg 0 Winning Aqueduct Bidder Loses a Partner Aqueduct Entertainment Group, the winning bidder to develop a casino-type operation at the Queens Racetrack, is losing a member. The group today announced that Darryl Greene had dropped out of the team, losing his 0.6 percent stake in the bid.

This better explains how AEG, which is battling a whirlwind of negative attention given allegations that political favoritism led to its selection, can meet Assembly Speaker Sheldon Silver’s conditions for completing the deal to develop Aqueduct, as it has claimed it will be able to do. Among other conditions, Silver required that no person convicted of a felony within the past 15 years be on the winning team, nor could anyone convicted of tax evasion or misappropriation of funds. (The Post labeled Greene a felon, but AEG’s representatives say this is false; he pled guilty to a misdemeanor). 

Greene, who heads the Darman Group, was also the subject of a Post article that reported companies connected to him owe the state more than $1 million in taxes.

Here’s Mr. Greene’s statement.

“The Video Lottery Terminal development at Aqueduct is a critical project for the community, Queens and the State. I believe very strongly in the abilities of Aqueduct Entertainment Group, particularly the local development team of Levine Builders, Turner Construction and GreenStar Services, along with the jobs they will create and the product they will produce.  It is for that reason that I will step aside and relinquish all interest and potential interest in the project, and with Aqueduct Entertainment Group.” 

In a statement, AEG member Jeff Levine, a New York developer who has been taking a lead in the public statements in recent days, said the Darman Group’s minority share will not be taken up by new investors as a result of the resignation.

 

 

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