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CEO Resigns From Aust Bidder For Aqueduct Racino

Friday, 18th July 2008

In New York, the head of the Australian-backed group "seeking Aqueduct's gaming contract has stepped down to expedite the state's decision process, which could take several more weeks," reported thoroughbredtimes.com. Irish-born Karl O'Farrell "had been chief executive officer of Australia's Capital Play, which challenged the New York Racing Association to run the state's thoroughbred racetracks & is now seeking the contract for Aqueduct's proposed video lottery terminal facility". The state Division Of Lottery (which oversees VLTs) "is investigating the principals of each bidder, which in O'Farrell's case is taking much longer because information must be obtained from overseas. Temporarily, he has turned the company's reins over to Mitchell Etess, president & chief executive officer of Connecticut's Mohegan Sun casino, Capital Play's gaming partner in the Aqueduct proposal". O'Farrell confirmed: "We were always going to put Mitchell in charge of the VLTs anyway. I've stepped aside in my position. I'm still with the company, but I'm not making management decisions until my review is complete." O'Farrell was highly critical of NYRA during the racing franchise selection process & NYRA President Charles Hayward said recently that Capital Play "is the only group he does not want to get the gaming contract". Meanwhile NY state officials "said a gaming decision might be forthcoming within the next week or 10 days".

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