ReviewJournal.com - Business - Feb 02, 2010Penn National Gaming, Inc. (PENN)
-
Robert LaFleur
at
Susquehanna Financial GroupThe bidding process began more than a year ago and turned cutthroat last summer as the competition sought varying angles to win the support of Paterson and state legislative leaders
Penn National Gaming, for example, brought in hip hop music mogul Russell Simmons as a partner while AEG included support from a former New York congressman turned minister whose congregation includes Queens, the borough where Aqueduct is located One Democratic political insider told Crain's New York Business that having a political interest in Queens may have helped in the bid's dynamics Several Wall Street analysts were surprised that the Aqueduct contract wasn't awarded to a large casino operator
"The entire selection process has never been made clear, and there has never been a definitive timetable for declaring a winner," Susquehanna Financial Group gaming analyst Robert LaFleur told investors Monday
Share:
The bidding process began more than a year ago and turned cutthroat last summer as the competition sought varying angles to win the support of Paterson and state legislative leaders <span class="company">Penn National Gaming</span>, for example, brought in hip hop music mogul Russell Simmons as a partner while AEG included support from a former New York congressman turned minister whose congregation includes Queens, the borough where Aqueduct is located One Democratic political insider told Crain's New York Business that having a political interest in Queens may have helped in the bid's dynamics Several Wall Street analysts were surprised that the Aqueduct contract wasn't awarded to a large casino operator<span class="sent"> "The entire selection process has never been made clear, and there has never been a definitive timetable for declaring a winner," Susquehanna Financial Group gaming analyst <span class="analyst">Robert LaFleur</span> told investors Monday</span>...<span class="sent">"The entire selection process has never been made clear, and there has never been a definitive timetable for declaring a winner," Susquehanna Financial Group gaming analyst <span class="analyst">Robert LaFleur</span> told investors Monday</span> "While <span class="company">Penn</span> seemed like a strong contender on the surface given its success in running racinos and a strong balance sheet, in our view, they were not seen as the favorite to win the license g
Tweet this