Malaysian Developer Genting Wins Aqueduct Casino Gambling Rights

It has been so long since New York decided to allow slot gambling at Aqueduct that many residents have given up on the idea. On Wednesday, nine years after originally approving the slots, New Yorkers found a company to develop the casino.

Genting, a Malaysian gaming company, won the rights to build the casino that will house slot machines at the famed racetrack. The long process has seen several company's approved and then blocked from opening the casino.

The Genting proposal had New York Lottery officials and lawmakers claiming that this would be the final choice for months. Governor David Patterson and Senator John Sampson had already given their seal of approval to Genting. On Wednesday, Assembly Speaker Sheldon Silver gave his approval.

Now, the construction stage will begin and Genting believes that the first phase of that construction could be completed within six months. The rest of the project will take more time, but with 1,500 of the slots expected to be operational, New York residents now have something to look forward to in the near future.

"My wife and I have been waiting six years for this casino," said Mario Beltadore, who has lived in Ozone Park for the past five years. "I just hope they (lawmakers) are not pulling our chain and the casino is actually going to be built. Although this seems like its final, I'll believe it when I see it."

Beltadore's sentiments are shared by many New York gamblers who have watched four previous deals fall apart. Money, however, will not be the issue should this deal fall through. Genting is one of the most lucrative and powerful gaming company's in the world.

Revenue from the slot machines will got towards helping several tracks in New York. The New York Racing Association, which operates races at Belmont Park and Saratoga Race Course, will be a beneficiary of the revenue. It is expected that $1 million daily will be made at the casino once all 4,500 slots are up and running.

August 12, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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