Possible additional delays ahead for NYRA, MGM Mirage VLT deal - 2004-02-20
Before the New York Racing Association can go forward with its plan to offer video lottery terminals at Aqueduct, it must settle several hurdles that have kept MGM Mirage from signing a definitive agreement with the association to run the gaming venture.
NYRA has been lobbying an extension of that deadline and feels the existing franchise expiration date of December 31, 2007, does not leave the organization sufficient time to repay the more than $100-million it has borrowed from MGM Mirage to establish the casino, Patrick Kehoe, senior vice president and general counsel for NYRA, told the Las Vegas Sun.
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