Jay-Z Backs Out Of Casino/Racetrack Deal

- By Bossip Staff

The controversial plan to open 4,500 casino slots at Aqueduct Race track in which Jay-Z was to be a partner in is falling apart.

Yesterday (March 10), New York’s Gov. Paterson wrote a letter threatening to kill the deal with AEG to open 4,500 casino slots at Aqueduct race track in Queens.

In the letter, Paterson’s office has stated that he will “disqualify” winning bidder AEG. In response to the letter, powerhouse Queens Minister Floyd Flake responded by resigning as a partner in the project, stating,

“Unfortunately, my ongoing participation in Aqueduct Entertainment has become a distraction that has taken me and my attention away from the community projects I created and nurtured. I support Aqueduct Entertainment’s vision for the revitalization of my community through the creation of jobs, retail facilities and other opportunities for growth.”
In addition to losing Flake, Hip-Hop mogul Jay-Z, who had an estimated 2% interest in AEG through his ownership in Gain Global Investments Network, has backed out of a deal with the Aqueduct Entertainment Group to invest in the Aqueduct racino it was revealed on March 9th.

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Comments

  • Glok...Book of Obama, Chapter bullchit!

    YOUR BIG BOSSES GETTING SICK OF LOOKING AT YOU YA BIG LIPPED B.A.S.T.A.R.D!

  • Glok...Book of Obama, Chapter bullchit!

    THEY WANT YOU TO RACE CAMELS .. YA BUBBLE GUM LIP F.UKKA

  • shut ur pie hole

    stop glok for he spits on ya

  • http://bossip nidon

    Heres my take on this. The article I read stated he backed out when they requested financial records. I am not hating. I don’t beleive him and his wife have all the money they say they have. Just a thought!

  • resurrected

    only because they wanted to view him and Beyonce financial records and she is already under investigation now so they might he some shady dealing with in the finacial system…

  • Truth-is-Truth

    I’m I the only one tired of looking at this monster and his Hermie wife. Why don’t they sit their azzes down somewhere. How much fvcking money do these Bast@rds want. Dayum give back to the people sometimes. I guess they feel as long as they grace us with their presents we should be happy….Get Lost!!!

  • chocalatetunda

    YES SOME UNDER HANDING STUFF IS GOING ON HERE. BUT COME ON NOW ITS ALWAYS GONNA BE SOME UNDER THE TABLE DEALING ANYWAYS

  • GOALdigger

    i just don’t think they should have to be show all there business.

  • resurrected

    Well it is always good to have regulations espeically with wealthy poeple who are use to getting through the cracks financially.. If you want to be apart of the process this is what has to be done as long as everyone else have to do the same…

  • getting down

    Anyone with a criminal record can not have a stake in a casino. Another man with a past criminal record was forced to back out of this deal about a month ago because of his record.

    It has also been reported that Jay-Z was subpoenaed by the Feds a couple of weeks ago. From what I understand Jay-Z is under investigation and it may be linked to AEG and Gov. Patterson who is under investigation for a number of things.

  • LBCER

    I don’t think the money is the problem. He is probably leary of the treatment his black azz will recieve once they find out how much he is really worth and how many “tax breaks” he took advantage of. Business as usual.

  • I'm Just Me...Keeping It Real Since: 1983. 36 Days. SHANI DAVIS ALL DAY!!!

    It’s a sad day when your lips look ashy no matter what.

  • I'm Just Me...Keeping It Real Since: 1983. 36 Days. SHANI DAVIS ALL DAY!!!

    DEADER THAN DEAD @ GLOK AND SHUT YOUR!!

  • Glok...Book of Obama, Chapter bullchit!

    IJM
    THERE YOU GO MOMMA, YOU KNOW I SPEAK TRUTH!

  • Monica

    First of all we don’t need a gambling casino in our community, where we are struggling to survive and struggling with the issues of drug addiction, homelessness, poverty etc. I get sick of these Black folks going along with this BS so they can line their pockets and continue to be rich while our Black people are suffering. If this fool wants to invest his money why doesn’t he open a shopping plaza with a huge grocery store, community center, businesses needed in the community. Jay Z is disgusting and so is that stupid as governer.

  • Kenny

    Jay Z is a fraud, his wealth is in question because he doesnt have that much… he lost alot of it in investments. Beyonce is keeping him afloat, this is why she cant take a break because their expenses are too great… Lately Jay and Beyonce have been going overseas, hence her performing for terrorist.

  • Lisa (with a Big L)

    Trust and believe there is a whole lot more to this story than what the media is telling right now. Jay-Z and Beyonce have gotten in bed with some devils. There’s nothing wrong with being ambitious, but when you start to sell your soul and your people out, it will always come back to bite you the a.s.s.

    Beyonce did not open that cosmetology school because she “cares”. It was an agreement in exchange to take some heat off of her and her husband, and because Nyers are upset because they are treating them the same way white developers do poor, black communities.

  • Dr. Pynk {Excuse me while I brag about myself}

    I already predicted this. I knew he was gonna find some excuse to back out of this. AND more stuff is gonna come to light. We haven’t heard the last of this………………. Smh.

  • Lisa (with a Big L)

    Also, I think Jay-Z might be out of his league in dealing with these big elite development and investment companies. Ownership/investments of certain properties such as casinos and downtown properties means super-elite, and no matter how much money he has, they are not going to let him in. To Black folks he might be a “mongul”, but to these people, he ain’t nothing but a niqqa with some money.

  • juliemango

    So hip-hop’s off to the da races!!!

  • Sistawithavoice

    God don’t like ugly..no pun intended LOL
    Whatever he and the rest of these sheisty “business” men were trying to do with this casino idea, is now backfiring. What J and Bey don’t realize is that no matter how famous they get…to the racist white capitalists, they are just “monkeys” who want to be them. Donate to churches, schools, community centers in these improverished neighborhoods. That’s an investment that keeps giving back.

  • hardcastle

    it’s bad when the feds start snooping around,,,, they had better lock their millions down someplace ,,, and quick!!!!!!!

  • kenya

    Bob Johnson
    Oprah Winfrey

    two of the richest black Americans in the world. oh, and there’s the guy Elizabeth Taylor is currently dating.

    that said, there are rich black Americans but the difference between them and jz and his wife is that they are educated, have c*l*a*s*s and don’t have criminal records.

  • DR. SANJAY GUPTA

    Good for that LOSER GUTTER CAMEL ROACH HYBRID. THIS IS ONLY THE BEGINNING FOR THIS FOOL. HE AND BEYOND FAKE ARE IN FOR IT BECAUSE THEY ARE BOTH GRIMEY, UNEDUCATED, SATANIC FRAUDS.

  • http://bossip bossy

    When the feds bust open the records it will show Hov has about 20-30 mill or less and Bey has no more than 50. Mark my word!

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