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Genting Makes Push Into East Coast With Miami, New York Casinos

Genting made its fortune as a gaming company that is based in Malaysia. The company has started their ever-popular brand of Resorts World destination casinos around the world, and now they are setting their sights on the East Coast of the US.

Last year, Genting purchased the property where the Miami Herald currently resides. In early 2012, Genting revealed their plans for a Resorts World Miami, and while the original plans did not include a casino, the facility had the space for a gaming floor on the second floor should Florida embrace full-scale casino gambling in the future.

More recently, Genting has hit it big in New York. Governor Andrew Cuomo has proposed a Resorts World New York for his state, and lawmakers are getting behind the idea, although convincing enough New Yorkers that a second casino in the state will be beneficial may take some time.

"The city is big enough to have more than one," said Mayor Michael Bloomberg. "We have lots of different arts venues, for example, lots of different concert halls and stadiums."

Bloomberg endorsing the idea of an additional casino bodes well for the community that is in favor of bringing more gaming to New York, but it is Genting that could end up being the big winner if the plan is approved.

"Genting is in a great position to conquer and become a leader in the US gaming industry," said Gaming Analyst Steve Schwartz. "Somehow, as a foreign company, they have moved to the forefront of the expansion discussion in both Florida and New York, and if they open casinos in the two states, they would suddenly become a major power in the industry."

Genting joined Las Vegas Sands and Wynn Resorts as groups who tried vigorously to have Florida lawmakers change the current laws to include full-scale Vegas-style gaming in the Sunshine State. Despite the millions of dollars in lobbying efforts, the plan failed this past Spring. Lawmakers in Florida are hoping to take the issue up again in 2013.

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