Belmont Development

Deal brokered ending VLTs at Belmont

Machines will be leased to Resorts World Casino in exchange for annual revenue

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A deal has been struck to lease Nassau OTB’s 1,000 video lottery terminals to Resorts World Casino at Aqueduct racetrack in exchange for annual payments totally $43 million over the first three years, according to state lawmakers.

The proposed deal is contingent on the State legislature passing the budget on April 1.

The terms of the deal involve Genting Group LLC, the operator of the casino at Aqueduct, adding the 1,000 VLTs to its already 5400 machines housed in the complex in Jamaica.

According to the deal negotiated by Sen. Jack Martins, in exchange for the authority to add 1,000 VLTs to its facility, Genting Group will pay Nassau OTB $9 million this year and next year, $25 million in 2018, and increase that $25 million payment by the cost of inflation each following year.

“This agreement is the best case scenario for Nassau County and its residents; receiving substantial, recurring revenue while ensuring that a VLT facility will not be opened in Nassau County,” Martins said in a statement. “ Residents who were concerned about a VLT facility affecting their community or seeing the County cut services because this revenue never materialized don’t have to worry about either under this arrangement.”

This arrangement is a welcome end to the nearly year and a half battle that Nassau County and residents have engaged in over where to house a gambling facility in the area. Initial plans had Westbury as the location for the VLT parlor but public outcry coupled with local government opposition nixed those plan in January 2015. This past December Nassau OTB chose Belmont Park as the new site, and that was met with equal if not more fervent opposition from residents and community leaders.

“I’m just happy that we were able to find some sort of a solution that benefited everybody,” said Matthew Sexton, a Floral Park resident and an organizer of the grass-roots organization No Casino at Belmont Park. “It benefited the County, it benefited OTB as well as Floral Park and Elmont.”

There were some however that wished to see VLTs come to Belmont and are disappointed in the deal brokered by Sen. Martins.

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