Click for Singapore, Singapore Forecast
Click for Hanoi, Viet Nam Forecast
Click for Bangkok, Thailand Forecast
Click for Kuala Lumpur, Malaysia Forecast
Click for Jakarta, Indonesia Forecast
Click for Manila, Philippines Forecast
Click for Tokyo, Japan Forecast
Click for Korea, Forecast
Click for Hong Kong Forecast
Click for Taipei, Taiwan Forecast
Click for Beijing, Beijing Forecast

<div style="background-color: none transparent;"><a href="" title="shop">ikiloop</a></div> <p>

Genting Malaysia to spend $1.3b on NY deal

19-Aug-2010 Intellasia | Reuters | 7:01 AM

Genting Malaysia (GENM.KL) will spend $1.3 billion to invest in its video lottery project in New York, according to a report submitted to New York regulators.

Genting will pay a licensing fee of $380 million and $350 million to develop the site, according to an edited copy of the proposal posted on the New York lottery regulator’s website.

A Genting official confirmed that a Memorandum of Understanding (MoU) was signed on August 13.

Earlier this month, the New York state lottery recommended a bid from Genting New York, a subsidiary of Genting Malaysia, to develop and operate a video lottery facility at the Aqueduct racetrack in Queens.

Genting New York said in a statement its proposal will offer “an enormous economic boost” to the New York economy, including creating more than 2,000 jobs and generating more than $500 million per year in state revenue.


Category: Malaysia

Comments are closed.