Poll Shows That Hard Rock Casino at Aqueduct Racetrack Delivers on Community Priorities

NEW YORK-(Business Wire)-August 31, 2009 - A survey of Queens voters shows that SL Green Realty Corp.’s bid for a Hard Rock Casino and other Hard Rock-themed offerings at a redeveloped Aqueduct Racetrack is the favored choice of the community.

The third-party survey, commissioned by SL Green, demonstrates that the Hard Rock brand is well liked in Queens and is the best known of all the bidders, clearly indicating that an SL Green/Hard Rock project would not only be well received, but well utilized by Queens residents. The survey results also show that Queens voters strongly favor an Aqueduct developer that combines deep New York roots and a commitment to union jobs with a strong understanding of the gaming industry.

Two-thirds of voters (67%) say it is important for Aqueduct to be developed by a company based in New York – as SL Green is – and 84% say it is important for the company developing Aqueduct to have experience developing and running casinos – as Hard Rock does. No other bid meets both criteria.

“Hard Rock and New York City are a natural match, so it’s no surprise that Queens voters want to see more world-class entertainment, dining and gaming from the Hard Rock franchise – right in their own community,” said Jim Allen, Chairman, Hard Rock International. “Our bid will not only provide the community with a place to come together and be entertained, but it will also create jobs – nearly 1,000 – for local residents and union members. Queens deserves a Hard Rock of its own.”

“These poll results verify that we have been on the right track from the beginning,” said SL Green CEO Marc Holliday. “Our intention continues to be to redevelop Aqueduct in a way that is the best fit for Queens and surrounding neighborhoods while fulfilling the State’s economic objectives. No other proposal is as well-planned. The SLG/Hard Rock team will deliver the union jobs that Queens voters want faster than any other bidder. In fact, the SLG/Hard Rock team is the only group that is guaranteeing an opening within eight months of final agreements being reached and signed – with a significant self-imposed penalty paid to New York State, should the project be delayed thereafter."

“I am invested in this proposal because of the enormous opportunity Aqueduct represents through the creation of local jobs, the opportunity for New York State to receive important revenue, and bringing world-class entertainment to Queens,” said Robert L. Johnson, Founder and Chairman of The RLJ Companies and an investor in the SL Green/Hard Rock bid through one of his companies, Caribbean CAGE LLC.

In the survey, Queens voters were asked to rate certain statements describing various elements of the SL Green/Hard Rock proposal. The survey results show that Queens voters find three elements of the proposal particularly appealing:

44% of Queens County voters and 48% of voters in the neighborhoods surrounding Aqueduct find it very convincing that “if SL Green and Hard Rock are awarded the contract to develop Aqueduct, it will mean more union jobs and more jobs for area residents. SL Green has a long history of using union labor, and it has committed to hiring a high percentage of local labor for the construction.”
35% of Queens County voters and 41% of voters in the neighborhoods surrounding Aqueduct find it very convincing that “SL Green is the largest commercial landlord in New York City. As a successful local company that knows the New York market, its proposal reflects the firm's realization that the Big Apple is not Las Vegas or Atlantic City and recognizes that it must work with the local community to be successful.”
31% of Queens County voters and 37% of voters in the neighborhoods surrounding Aqueduct find it very convincing that “Bob Johnson, the founder of Black Entertainment Television, is partnering with SL Green and Hard Rock on Aqueduct to make sure the development strengthens the local community and creates opportunity for area residents.”

A majority (57%) of voters view the Hard Rock brand favorably, with just 7% viewing it unfavorably. Far fewer voters have any opinion of Wynn Resort & Casino (25% favorable/5% unfavorable). Opinions of Hard Rock are rooted in personal experience for many voters. Nearly half of Queens County voters (46%) say they have been to a Hard Rock restaurant, hotel or casino, and more than half (57%) say they would be likely to eat at a Hard Rock Café that was included as part of the new Aqueduct. Hard Rock would be viewed immediately as a trusted and popular brand by Queens residents.

When presented with four of the competing proposals for developing Aqueduct, a plurality of Queens County voters (21%) opt for the SL Green/Hard Rock proposal, followed by Aqueduct Entertainment Group (17%), Wynn Resort & Casino (17%) and Delaware North (4%). And voters in the neighborhoods immediately surrounding Aqueduct are even more likely to choose the SL Green/Hard Rock proposal (25%).

METHODOLOGICAL NOTE

This press release summarizes results from a telephone poll of 300 randomly selected registered voters in Queens County, New York. Interviewing was conducted August 18-19, 2009. Special care was taken to ensure that the geographic and demographic divisions of the full universe are properly represented. The estimation error associated with a sample of 300 is 5.7 percent at the 95 percent confidence interval. This means that in 95 of 100 cases, the results of this poll are within 5.7 points, plus or minus, of the results that would have been obtained if all registered voters in Queens County, New York had been interviewed.

An additional 100 interview oversample was conducted of registered voters in the neighborhoods immediately surrounding Aqueduct Race Track and was combined with the original interviews conducted in these neighborhoods for a total of 143 interviews. The estimation error associated with a sample of 143 is 8.1 percent at the 95 percent confidence interval. The neighborhoods which make up this area around Aqueduct are Briarwood, Hillcrest, Jamaica Center, Jamaica Estates, Jamaica Hill, Kew Gardens Hills, Forrest Hills, Forrest Hills Gardens, Kew Gardens, Richmond Hill, Woodhaven, Howard Beach, Lindenwood, Ozone Park, and South Ozone Park.

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