FOR IMMEDIATE RELEASE:
January 29, 2010
Statement From The Office Of Speaker Sheldon Silver Regarding Aqueduct VLT Agreement
Speaker Silver has agreed with Governor Paterson on the selection of Aqueduct Entertainment Group to operate the video lottery terminal facility at Aqueduct Raceway, subject to the following conditions being expressed in a memorandum of understanding:
- Increase up-front licensing fee from $200 million to $300 million.
- Require use of existing approved footprint for a timely SEQRA approval. Any future development would be subject to the normal
SEQRA process. No waiver requests or requests for expedited approval will be permitted.
- All investors at any level, partners, directors, managers, contract holders, and principal and other selected employees must
obtain a license from the State Division of the Lottery. Anyone who has been denied a gaming license in any jurisdiction anywhere in
the world, or convicted within the past 15 years of a felony or any other crime or offense involving fraud, larceny of any sort, theft,
misappropriation or conversion of funds, or tax evasion is prohibited from obtaining a license.
- Throughout the final approval process, all changes in the proposal including but not limited to partners, investors at any level,
management, development or principal employees, and contracts must be reviewed by the Division of Lottery and approved by the
three leaders prior to the conclusion of the approval process.