Aqueduct To Get Video Lottery From MGM Mirage
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MGM Mirage, the no. 2 American casino company, said it will build and manage a $170 million video-lottery terminal parlor at Aqueduct racetrack in Jamaica, Queens, reviving a development it scrapped two years ago.
The facility will have 4,500 terminals, which are similar to slot machines, Las Vegas-based MGM Mirage said yesterday in a statement. The company will operate the machines under an agreement with the New York Racing Association.
MGM Mirage ended its plan to add the machines in August 2003, citing a state investigation into NYRA on charges of fraud, tax evasion, and money laundering. New York approved adding lottery terminals to the state’s racetracks in 2001 to boost state revenue. Proceeds from the machines will contribute to the racing industry and education in the state.
NYRA officials avoided federal prosecution by agreeing to pay a $3 million fine and allowing the organization’s daily operations to be monitored by the New York- based law firm of Getnick & Getnick. MGM Mirage’s participation remains subject to New York regulatory approval. Officials said the video lottery facility would open in the middle of next year.
