New York governor plans competition for casino and convention center

2012-06-06

Reading time 1:34 min

(US).- New York Governor Andrew Cuomo said Genting's plan to build a us$ 4 billion convention center at Aqueduct Racetrack in Queens has fallen through after discussions between the two parties broke down. Cuomo now expects to have a competition for the project after New Yorkers vote on a constitutional amendment to allow Las Vegas-style casinos.

"We now look forward to working with Governor Cuomo and participating in any competition for a convention center/casino project that the governor designs," said Genting spokesman Stefan Friedman.

Plans for Genting to build a us$ 4 billion convention center in New York City have failed, Governor Andrew Cuomo said. The 353,031 sqm convention center, which was to be built at Aqueduct Racetrack in Queens by the Kuala Lumpur- based company, was a centerpiece to Cuomo’s job-creating plans announced in January. It would have been the biggest in the U.S.

Democrat Cuomo said on New York’s WOR-AM that discussions with Genting fell through. “We had those conversations going on for a few weeks,” Cuomo said in an interview with the host, former governor David Paterson. “Those conversations haven’t worked out.”

The broken deal is at least the second time this year that U.S. plans by Asian second-biggest casino operator by market value have failed. In February, its us$ 3 billion hotel and casino project in Miami stalled when a Florida House of Representatives committee postponed a vote on a bill to expand casino gambling.

A Genting spokesman, Stefan Friedman, said the company may still bid on a convention center project in the city. The failed proposal would have replaced the Jacob K. Javits Convention Center in Manhattan as Genting expanded the casino it opened with electronic games in October at Aqueduct, near John F. Kennedy International Airport.

Competition planned

Cuomo said he’s now discussing building a convention center and casino with other companies. He said he plans a competition next year after the Legislature sends to voters a constitutional amendment that would allow Las Vegas-style casinos in the third- most-populous state.

“We now look forward to working with Governor Cuomo and participating in any competition for a convention center/casino project that the governor designs,” Friedman said by e-mail. In the failed negotiations, he said, “the uncertainties and difficulties regarding the constitutional amendment, competitive landscape, tax rate and infrastructure support made any decision difficult.”