This whole aqueduct bid has been a bit of a nightmare for Jay-Z. To recap, Hov has had a minor share in a company called AEG (Aqueduct Entertainment Group) that won a contract to open up New York's aqueduct to gambling with video lottery terminals. The contract is extremely lucrative, but has been marred by what appeared to be an unethical business advantage during the bidding process. Now, as the company faces more scrutiny over financials by the state government, the New York Observer is reporting that Jay-Z has pulled out altogether. Apparently, under new rules, all investors had to submit comprehensive financials to the state that account for personal finances of both investor and spouses. Translation: this means Hov would have to provide a detailed rundown of both his and Beyonce's monetary situation. Obviously, this is something that the rapper likes to keep secret and there is little to no chance that the information wouldn't eventually leak. For Hov, it seems that it's just not worth the effort at this point. Otherwise, the project appears to be moving full speed ahead.
"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," said Jeffrey Levine, founder of AEG. "All applications have been submitted to Lottery in full compliance with the State's instructions."
So, there you have it. Gambling at the aqueduct is a go. Jay-Z making another killing will have to wait for the next investment.
Taylor Swift Dominates at 2013 Billboard Music Awards
Tim McGraw's 'Superstar Summer Night' Special to Air May 19
Tim McGraw Stops Atlanta Show to Help Ailing Fan
Jennifer Hudson Performs 'Inseparable' With 'American Idol' Winner Candice Glover
Carrie Underwood 'Goats' Hunter Hayes With Blown Away Tour Prank
Tornadoes Strike Oklahoma
Miguel and Fan Are 'Okay' After Crazy Kick at 2013 Billboard Music Awards
PHOTOS: Tornadoes Wreak Havoc On Central U.S.
Stone Temple Pilots Tap Linkin Park's Chester Bennington as New Singer
Police END Search For Susan Powell
Trace Adkins Named Winner of 'All-Star Celebrity Apprentice'
Justin Bieber BOOED While Accepting Award
Taylor Swift Admired George Jones' Passion for Performing
PHOTOS:Eva Longoria's Almost Wardrobe Malfunction At Cannes
Lawyer: Steroids to Blame in As I Lay Dying Frontman's Murder-for-Hire Case
15 Incredible Cat Photobombs
PHOTO: LARGEST Python Ever Caught In Florida!
Student Expelled, Charged With Felonies For Same-Sex Relationship
PORK BELLY: OJ Can't Get Enough Beans
Top White House Staffers Were Briefed On IRS Investigation's Conclusions, Didn't Tell Obama
LOOK: Dolphins Make Rare Underwater Find
Stefon Marries Anderson Cooper In Final Show
OUCH: Singer Jumps, Lands On Fan's Neck
PHOTOS: Stars Shine On The 2013 Billboard Music Awards Red Carpet
'Undercover Angel' Singer Dies At 72
PHOTOS: Miley Cyrus Decides To Wear Pants To The 2013 Billboard Music Awards
Mark Penn Unlikely To Rejoin Hillary Clinton 2016
Kristen Stewart, Robert Pattinson Reportedly Split
Winning Powerball Numbers
Obama Approval Rating Not Hurt By Scandals
All The Pics: Jessica Ennis Marries Andy Hill
Powerball Jackpot Winning Ticket Purchased In Florida
