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Companies join Capital Play team10 August 2007NEW YORK -- As reported by the Connecticut Day: "The international consortium known as Capital Play Inc. has added the partners Victoria Racing Club and Extell Development Co. to a team that hopes to develop the racing business at the Aqueduct and Belmont Park in New York. "The revised bid filed Tuesday with the New York State Wagering and Racing Board had also added the Mohegan Sun as a partner in July. The Mohegan Tribe, which owns the resort casino, would develop the entertainment side of the racing business if the state of New York selects Capital Play. "After running Aqueduct, Belmont Park and Saratoga Race Course since 1955, the New York Racing Association is in bankruptcy but is also a bidder for the contract with the state of New York. Other bidders are Empire Racing and Excelsior Racing Associates. "In a letter accompanying the revised bid, Capital Play Chief Executive Officer Karl O'Farrell calls his proposal 'the best for the state of New York on every significant objective measurement,' including its partners. The firm has also 'increased its financial commitment to the equine industry (and) increased its bid to reflect savings from any tax-exempt financing,' he wrote..." |