Joseph Weinert of Spectrum Gaming Group L.L.C. in Linwood, N.J., said: "Aqueduct will be yet another predator that nibbles away at the vast gaming market Atlantic City has developed over the last 30-plus years. The impact likely will be negligible at first, but may become measurable at full build-out.
"We also believe this poses a threat to the Northeastern Pennsylvania casinos, as it attracts patrons from the New York/northern New Jersey market," he said.
Under Genting's proposal, phase one of the Aqueduct project includes installing 1,600 state-run video lottery terminals (VLTs), which could open as early as April.
Phase two includes adding 2,900 more VLTs, a 2,100-vehicle parking garage, a pedestrian bridge to the subway station, and a porte cochere to open by the end of next year.
The company, based in Malaysia, has 10 days, or until Sept. 23, to pay the up-front $380 million licensing fee to the state. Genting, which has a prominent international reputation, operates casinos in Malaysia, Singapore, and the United Kingdom. It won the Aqueduct license after two other bidders dropped out.
Seven other New York racetracks have VLTs that are run by the New York State Lottery. Yonkers Raceway, whose machines debuted Oct. 11, 2006, is the largest with just over 5,300 VLTs.
A VLT, unlike a slot machine, is connected to a centralized computer system, which can determine the total amount and number of payouts.
The awarding of another slots license to a New York racetrack comes as New Jersey lawmakers and Gov. Christie mull the future of gambling in the Garden State.
The second of three gaming summit hearings was held last Friday at the Pegasus West complex at the Meadowlands Racetrack and attracted close to 600 people.
