Jay-Z, Rev. Flake to Backout of Aqueduct Racino Deal

By Alicia Cruz

The Black Urban Times

Incoming reports say the Aqueduct Raceway racino deal between music mogul Jay-Z and Queens minister Floyd Flake is looking, well, flakey. Reverend Flake and Jay-Z aka Shawn Carter have allegedly severed their ties with the group selected to run the Aqueduct racino, according to a Daily News report.

In a statement released by Flake, he said, "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," Flake's staement read.

Some say Flake's disengagement comes on the heels of a probe by the State Inspector General's office into Aqueduct Entertainment Group. While others speculate that Flake backing down is due to pressure he has received from parishnoers of his church who are questioning his involvement with a casion operation.

Jay-Z allegedly backed away from the deal when he realized he and his buisness dealing would come under scrutiny by the extensive background check he would have to undergo.
As of this morning, AEG said paperwork for all of it's investors have been filed for gaming licensing.
The racino is expected to bring the state in excess of hundreds of millions of dollars a year as well as the individual who operates the facility.

Click here to read the New York Daily News article

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