Jay-Z Pulls Out Of Racetrack Casino Deal

Jay-Z Pulls Out Of Racetrack Casino Deal

Published March 10, 2010

After catching heat for his involvement with Aqueduct Entertainment Group’s plan to develop a casino at a Queens, NY racetrack, Jay-Z has pulled out as an investor.

Jay’s decision comes weeks before AEG's March 31 deadline to move forward with construction of the racino.

Several weeks prior, news broke that AEG was under a federal investigation for allegedly picking Jay to influence Governor Paterson’s decision to begin  building of the complex. AEG and representatives for Governor Paterson have since denied the claims.

“Aqueduct Entertainment Group is continuing to move forward to complete the MOU, so that we can pay the state $300 million by March 31st and break ground on this vital job-creating project as soon as possible,"  Jeffery Levine, founder of AEG, said in a statement. "All applications have been submitted to lLottery in full compliance with the State's instructions."

Written by Nile Ivey, BET.com Staff


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