Two proposals to develop and operate a racino at Aqueduct racetrack in New York City were disqualified last week, leaving only one in the running, the New York State Lottery Commission announced last week.

The state expects to receive a $300 million payment for the license to operate a video lottery casino in Queens. It in turn plans to sell $250 million of personal income tax bonds to finance a construction grant that the chosen firm would use to build the facility.

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