Going… Going… GONE Genting’s New York Mega Deal

Posted: June 5, 2012 in Uncategorized

by:   Allan Peterson

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It is not so surprising that this is another negative outcome for Genting Group, followed by Genting’s failed Florida bid (to build mega casino city/centre) not too long ago.

The major obstacle for Genting’s failure to secure fruitful result from their work on the state of New York for a big foothold in propriatory mega casino development is, they are not of native-American ownership.

Let’s be soble about Genting’s hope to establish a strong “casino kindom” in the land of United State of America.  Simply put, this thing about who could buy land and build big  casino development in the US is hugely different from any other form of property and economic activities.  Such economic interest will be seriously protected by the state authority, regardless of state of affair of its economy. 

It is already proven that in the US, Genting could only take part in joint venture deals in casino development, such as what they did before; with the Indian tribes at Indian Reserves locations far away from prime cities.  (e.g. FoxWood).

Good try, but still a long shot.
There will be a few more tries by Genting still, but will be slammed with the same outcome.

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