Resorts World plans millionaire investment
Resorts World Genting introduced a project to innovate the Aqueduct Racetrack in New York.
US.- Resorts Worlds Genting, the Malaysian operator of the Aqueduct Racetrack in Queens, New York, proposed to the government an investment plan to innovate the gaming centre. The operator would invest US$400 million in a new hotel complex and 1,000 video-lottery machines.
“This new expansion, and its corresponding increase in visitation to our facility, will result in a boost in revenue for both New York’s education fund and the state’s horse-racing industry,” expressed Michael Levoff, Genting senior vice president of public affairs. Aqueduct Racetrack has gained US$1.5 billion during the last five years and a percentage is destined to the state’s education fund, the horse-racing industry and the casino company.
The gaming company expects that the installation of new slots machines would generate over US$9 million in the first year of operations. Nassau County, in Queens, could get up to US$25 million in taxes during the following years. The Franchise Oversight Board, which represents the state of New York in real-estate developments, and the New York state Gaming Commission are evaluating the approval for Resorts World’s expansion.
