We refer to our announcements dated 10 June 2010 and 30 June 2010, wherein we had announced that GENM’s indirect wholly-owned subsidiary, Genting New York LLC (“Genting NY”) had submitted a formal bid to the New York State Division of Lottery (“New York Lottery”) to develop and operate a video lottery facility at the Aqueduct Racetrack in the City of New York, United States of America (“Project”).
On 3 August 2010, New York Lottery announced that its evaluation committee has unanimously recommended to the New York Governor that Genting NY be awarded the New York video lottery licence for the Project. Genting NY’s proposal included US$380 million as an upfront licencing fee.
The recommendation will have to be approved by the New York Governor, the Temporary President of the New York State Senate and the Speaker of the New York State Assembly before the video lottery licence can be awarded.
The video lottery facility at the Aqueduct Racetrack, to be called Resorts World New York, will contain 4,500 electronic slot machines, also known as video lottery terminals. Resorts World New York will also include a grand entrance featuring a three-story atrium with a spectacular water show, enclosed skyway pedestrian bridge linking to the mass transit system of New York , 450-seat two-storey festive casual dining promenade, two high-end restaurants, a sports bar restaurant and lounge and parking facilities for 7,000 cars including a 2,200 car garage.
Genting NY will work closely with the relevant parties, including the operator of the Aqueduct Racetrack, the New York Racing Association and expects to open the preliminary phase of Resorts World New York 6 months after the licence has been awarded.
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