Metro

Wynn a scratch at big A

Casino king Steve Wynn abruptly folded in the high-stakes — and delay-plagued — competition to run a video-lottery “racino” at Aqueduct.

Wynn was one of six bidders for the multibillion-dollar contract to create and operate the city’s first casino-like operation, at the 115-year-old Queens race track.

But the Las Vegas mogul pulled out because he was frustrated by the “delays in the process,” according to a source familiar with the bidding.

Gov. Paterson and legislative leaders had been expected to name the winning bid several weeks ago.

Before Wynn dropped out, Paterson was believed to be leaning toward Wynn or a rival bid from a group that includes the Hard Rock Café chain.

Wynn notified Paterson’s office by letter that he was pulling out, sources said.

Paterson’s office declined comment.

The state has been trying for months to seal the deal with a contractor who would operate 4,500 video-lottery machines at the Big A, similar to the “racino” at Yonkers Raceway.

The Aqueduct bidders made different proposals for a 30-year lease, but each of them promised at least $100 million up front.

In addition to that licensing fee, the state’s badly battered treasury would collect a hefty tax on gross gambling revenue from the Big A machines. State officials have estimated the tax would reap as much as $400 million annually once the racino is fully operational.

Last year, state officials thought they had a deal when Buffalo-based Delaware North Companies won the bid.

But Delaware North, which promised an up-front fee of $370 million, said earlier this year it couldn’t raise that amount by the March 31 deadline because of the failing economy.

That forced the state to restart the bidding. Among those who had been competing with Wynn are MGM Mirage, Penn National Gaming Inc., Aqueduct Entertainment Group and Delaware North.

The announcement of the winning bid, which had been expected by Labor Day and then by the end of September, has been repeatedly delayed.

Last week, Paterson’s office notified all six bidders that the rules had been changed and the state now wants a guarantee of $200 million up front. It said no deadline for a decision had been set.

Penn National’s initial promise of $250 million is the highest known bid.

maggie.haberman@nypost.com