Genting Malaysia tipped to win full casino licence in New York

Genting Malaysia Bhd and MGM Resorts are seen as strong favorites to win full casino licences in New York after Governor Kathy Hochul reached a budget deal with senate leaders over the weekend to fast-track casino legislation.

Macau-based Inside Asian Gaming (IAG), a publication devoted to provide the latest information on gaming industry developments in Asia on Tuesday (April 12) reported that under the deal, New York can issue licences for up to three downstate casinos, depending on the attractiveness of bids, with the New York State Gaming Facility Location Board now expected to run a competitive process similar to the upstate casino selection process conducted several years ago.

It said the legislation sets a minimum licence fee of US$500 million but gives the New York State Gaming Commission the option to accept higher bids.

Source: https://www.theedgemarkets.com/article/genting-malaysia-tipped-win-full-casino-license-new-york