Queens Tribune

"With a 70 percent tax rate the margin of error is very small," said Tom Breitling, a Senior Vice-President for Wynn Resorts subsidiary Wynn Las Vegas, "With Mr. Wynn, there is a certainty of execution."

Breitling was referring to the failed plan by Delaware North to develop the Aqueduct Raceway. He pitched Wynn Resorts as the best partner for the State and for Southern Queens because of Wynn's attention to detail, 40-year record and financial resources.

The Wynn line of famous gaming locations could have a new location right here in Queens if the company's bid for the Aqueduct Racetrack is picked by the State to redevelop the facility into a video lottery terminal (VLT) facility.

"We have $1 billion cash in the bank," Breitling said, referring to claims that some of the other bidders may fall into Delaware North's trap and not be able to raise the funding they need.

The plan he unveiled would involve all new construction for the location that would create a gaming facility with 4,500 VLTs, a small stage for performances, a variety of dining and retail options and the "wow" factor: a beautiful 70 to 80 foot façade for the facility with a lake and other natural features framing the European style of the entryway.

The site also featured ample parking garages (they expect some 75 percent of their customers to come by car), a 10-bay bus terminal and five entrances. The company said they met with the community board and integrated the board's requests into their design.

Steve Wynn, who built and runs the Wynn Las Vegas and the Wynn Macau, and has created seven successful casinos throughout the world, would be personally involved in designing and developing the facility.

The company estimates it will bring in 1,700 operational jobs as well as 1,000 union construction jobs.

Wynn also said they can get a better bang from the facility because of their success in attracting high end customers because of their experience in design and marketing. Breitling said the VLT market in this area is estimated to be roughly $1 billion, but Wynn Resorts can bring in $1.5 billion, which would bring more money into the State's coffers.

Wynn Resorts would pay the state $100 million immediately, another $100 million when the deal is closed and another $100 million over 30 years.

The project also calls for a phase two, which includes a hotel, additional entertainment complexes and an expansion of the gaming facilities.

"When it comes to credentials, nobody's a close second to Steve Wynn," said Breitling.

Reach Reporter Vladic Ravich at vravich@queenstribune.com or call (718) 357-7400, Ext. 121.