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New York VLT Operations Candidates Narrowed Down

"The companies are vying for what could be an extremely lucrative contract to operate a major new betting hall within the city limits of New York that NYRA officials revealed could house far more VLTs than first proposed. Las Vegas-based MGM Mirage owns or operates 15 casinos, while the Trump company, controlled by Manhattan real estate developer Donald Trump, is a major casino player in Atlantic City. Trump, who also runs casinos in Indiana and California, has pushed to block casinos from entering New York.

"The narrowing to MGM and Trump has come after nearly a year of interviewing a host of top casino companies, sources said. NYRA Chairman Barry Schwartz declined to comment on the selection process.

"…The VLT program was authorized at the end of 2001, but tracks have balked at starting because they claim the split is too low to make any money. Several proposals are floating around Albany to fix the problem, though it is unclear when a deal could be reached.

"If a deal comes together soon, Schwartz said VLTs could be turned on within the last three months of this year. That would be good news to the state of New York, which is awash in red ink; the state gets 60 percent of VLT revenues under current law.

"…Schwartz said estimates for an Aqueduct VLT operation range greatly, but he said industry officials believe the track could draw between 12,000 and 20,000 bettors a day. He said the range on the VLT drop has been estimated at between $300 to $500 per machine per day…"

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