NEW YORK Delaware North Cos. said it has been chosen after a two-year bidding process to turn Aqueduct Race Track into a “racino” featuring 4,500 slot machines, several restaurants, an events center, conference hall, hotel and retail operation.
Approval to revamp the Jamaica, N.Y., gaming facility was given Oct. 10 by New York Gov. David Paterson, the company said.
Aracino is a combination racetrack and casino operation. Foodservice plans at the venue call for the construction of a 25,000-square-foot, 600-seat buffet as well as Italian, Asian and steakhouse restaurants. The build-out is expected to take more than a year to complete.
“We are certainly pleased that Gov. Paterson and Assembly Speaker Sheldon Silver have selected us for this incredibly important and exciting project,” said William Bissett, president of Delaware North’s gaming and entertainment division. “We remain confident that we are the right choice to develop a world-class destination that will bring much needed economic development support to the community and the state.”
According to Delaware North officials, the company plans an initial payment of $370 million to the state, an investment of $250 million in the development of the racino, and an additional $200 million to build the hotel, retail, conference and events centers.
The project will be built in partnership with the Coral Gables, Fla.-based Peebles Corp., reportedly the largest African-American-owned urban developer in the country.
Officials said the events center would feature a 3,000-seat venue for shows, seminars, concerts and boxing matches. The conference center will be designed to accommodate weddings, social functions and corporate and community events, they said.
