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Standard says it hasn't engaged in any improper behavior.
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Report finds problems with the deal, passed in 2016.
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The county will invest $32 million in the park, while Standard will contribute $27.5 million.
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Standard Amusements and local officials say the deal will stop the losses of the county-owned park.
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The county-owned park, in the midst of an operational identity crisis, saw significant improvement this year.
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With New York's Coney Island under its belt, the company would like a shot at running the county-owned Playland, and install a pendulum ride there.
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Deal with Sustainable Playland is out, county will continue to operate the park at a loss.
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After a year and a half, county and other local officials don't think the organization has a viable long-term plan.
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The publicly owned park in Rye, New York, is cherished by many, but opinions vary on what to do with it.