«Genting Group Is up for a Challenge
As it has been reported, the New York casino race for the four licenses has finally started. Currently there are as many as 24 competitors. They all managed to meet the deadline. To obtain permission to bid for the licenses, they first had to pay an application fee worth $1 million. Only then were they allowed to vie for the licenses. Out of the 24 participants, however, the Genting Group stands out as the most prominent, strongest, and largest competitor. Genting Corporation along with Caesars Entertainment are the strongest developers. They both are participating in the NY casino race, each hoping to receive one of the four licenses.
Caesars proposed to found a gambling facility in Woodbury located in Orange County. Constructions will cost the company around $750 million. Ulster, Orange and Sullivan Counties that are located in the Valley and Catskills area might some day belong to Genting. Before starting construction works the operators are supposed to pay $70 million – an incredible sum of money that is required to obtain a casino license. Although the Genting Group already owns slots at the Aqueduct track in Queens and runs Resorts World casino, it is not hesitant about further expansion of its business across the territory of the United States.
The casino that the company is planning to found with this application will be of a larger scale different from that of RW New York. It is also predicted that the newly opened facility will probably entice players away from RW casino. Competing is never easy, especially now that the Northeast gaming market can offer new slot parlors and casinos. There are new gambling facilities that are being established in Pennsylvania, and even Massachusetts, New Jersey, and places such as Connecticut, Rhode Island, and Maryland. On top of the above mentioned gaming facilities there are the five Indian casinos upstate plus New York with its electronic slot parlors. The truth is that there are not too many operators capable of coughing up billions to build an additional casino but Genting is one of those who are capable of accepting such a challenge.