According to information released by the New York State Gaming Commission, RW Orange County LLC, a subsidiary of Genting Malaysia Bhd, has proposed two separate $1 billion casino projects for upstate New York. Regulators are granting up to four new gaming licenses for upstate New York.
The company submitted a bid for a casino in Tuxedo, where it plans to build a $1.5 billion property to be called Sterling Forest Resort. According to the summary of the offer, the second bid will be for the Resorts World Hudson Valley in Montgomery, which will cost $1 billion.
The New York State Gaming Commission received 17 applications for licenses for upstate New York. A total of eight formal proposals were made for the Catskill Mountains - Orange County area, approximately 80 km from New York City.
Among the operators competing to obtain a license is Caesars Entertainment. The casino operator has applied for the construction of Caesars New York, which will be an $880 million casino resort in Woodbury, Orange County.
RW Orange County said in a tender that the resort's World Hudson Valley project would include a four-star hotel with 600 rooms and suites and a "casino with multiple gaming options."
Sterling Forest Resort in Tuxedo plans to include a 1,000-key, five-star hotel as well as "casinos with private game rooms for VIP players in the United States, Asia and the world, as well as local and regional markets."
None of the summaries disclose more information about those casino components.
Both Tuxedo and Montgomery are located in Orange County. Resort World Hudson Valley is proposed for the Hudson Valley - Catskill area.
RW Orange County described the planned Stirling Forest resort as a "game mix with higher tables and slot machine minimums."
"A big difference between initial capital investment and operating costs means the two casino resorts can be differentiated and complemented by each other ... Cats attracts more mass market customers and Sterling Forest Resort attracts a higher price market segment," it added
According to a report by the New York Public Interest Research Group, Malaysian casino operators spent a total of $2.48 million on casino license lobbying in New York State between 2012 and 2013.
In its proposal, Genting's department said it would look at ways to improve revenue using a large database of overseas customers.
"Once we get a gaming facility license in late autumn, we'll be able to shovel by the end of the year and get it to market at the fastest pace," it added.
The New York Gaming Commission said it will select the winning bidder before the end of the year.
Jim Kok Thay, Genting's CEO, is participating in a third bid for a casino project in Orange County. He and his family are part-owner of Empire Resorts Inc., a company that proposes a $1.1 billion (W1 trillion) casino resort in Sullivan County.
BY: 파워볼사이트