New York has been trying desperately to open a casino. The state set forth to issue a license for New York City. The location of the slots parlor would be the old Aqueduct Racetrack in Queens. This process began years ago and has seen a drama go back and forth worthy of the soap operas that are taped in the Big Apple. THe bidding process was, to say the least, a mess. Many of the big name casino companies came out to bid for New York City’s first casino. On more than one occasion the winning bidder had the license taken out from underneath them. In early 2010 the casino license was awarded to the Aqueduct Entertainment Group. This group had many local organizations attached. However, Governor David Paterson pulled the license. There were allegations of political misconduct, and many lawmakers are being investigated.
When all of the dust settled a surprise candidate was awarded the license. Genting Group came out victorious. Genting operates casinos all over the world and online. There most famous property is the newly opened Resorts World in Singapore. This casino resort (or “integrated resort” as Singapore likes to call it) features a massive resort that includes a Universal Studios theme park. This proves that Genting is familiar with bringing casinos to new markets.
Genting was able to break ground on the New York City casino in late 2010, and work is scheduled to begin. Of course there is still some drama attached. According to the agreement Genting is supposed to use a certain percentage of local labor and contractors. Some feel they have not met this obligation. The racino will feature at least 1,600 video lottery terminal style slot machines in the first phase. There are plans to have a total of 4,525 machines by the end of 2011. This new casino will give a much needed boost to the New York horse racing industry. The New York Racing Association will get seven percent of the racino’s revenues.
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