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(Bloomberg) — The New York Racing Association Inc., operator of the Aqueduct, Belmont and Saratoga horse tracks, faces insolvency in 2011 without revenue from long- delayed electronic slot machines, New York Comptroller Thomas DiNapoli said.

State officials disqualified all bids but a Malaysian casino operator’s last week to develop an electronic slot- machine parlor, called a racino, that would include more than 4,000 video lottery terminals, or VLTs, and other facilities at Aqueduct Racetrack in New York City.

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