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Genting Gets the Sign Off

Genting New York has done something no other company has managed to do – they have gotten approval from pretty much everyone to start offering slot machines at New York’s Aqueduct racetrack. The Malaysia based company has come at the end of a long line of companies that have tried and failed to gain the slot machine license. They will now be able to operate 4,500 slot machines at the race track, bringing in millions of dollars for their company as well as for the state of New York.

Senate Democratic Conference Leader John Sampson signed the bid on Tuesday so that the company could start offering the slot machines. Governor Patterson has also approved the company, as they were really the only company left that had not gotten itself disqualified for one reason or another. Patterson said that he agreed with the Lottery’s decision and thought that it was in everyone’s best interest if they moved quickly on making a decision regarding the slot machines.

Assembly Speaker Sheldon Silver has to sign off on the deal before it can move forward, and he is expected to do so come next week. There is very little doubt that the state will go with Genting in the end as they did agree to pay them $380 million upfront to be able to operate the slot machines. Genting is also going to pay money to the New York Racing Association to help them get back on their feet. After almost ten years, it is nice to see something finally happening.

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