Slot machines are coming to the Aqueduct Race Track in New York.  That is, as soon as New York can find a contractor to develop the racino project.  Many companies took part in the very competitive bidding process.  Delaware North Companies Gaming and Entertainment actually walked away with the winning bid, but now Delaware North is facing its own problems.

Delaware North was set to bring over 1,000 slot machines in the Aqueduct Race Track; unfortunately the company came up against financial troubles.  According to Delaware North the credit crunch and economic depression being felt the world over is making it impossible for the company to raise the money for the price tag on their bid by the deadline established by New York State.  Delaware North put in a bid for $370 million.

Delaware North is not the only loser in the canceled deal; New York State will suffer as a result of it as well; that is unless they can find a replacement contractor soon.  New York State anticipated the receipt of $250 million in annual revenues from the over 1,000 slot machines that Delaware North would have brought to the Aqueduct.

New York State is now reopening the floor for bids.  Delaware North is not completely out of the picture.  William Bissett, President of Delaware North Companies Gaming and Entertainment, has pledged that his company will be sure to take part in the bidding process.  Bissett will no doubt make sure his company offers up a quote that their finances can actually meet this time around.

Once the deal is finalized, the winning bidder will be required to pay to the state the full amount of its proposed upfront franchise fee within 10 business days.