Malaysian billionaire Lim Kok Thay’s Genting starts second phase of $5.5B New York casino resort expansion
Genting Group has begun the second phase of its $5.5 billion casino resort expansion in Queens, New York.Summary
Genting Group, led by Malaysian billionaire Lim Kok Thay, has officially broken ground on the second phase of its $5.5 billion integrated casino resort expansion in Queens, New York. This phase includes the construction of a 400-room hotel tower, a 1,200-room Crockfords Hotel, a 7,000-seat multipurpose arena, and a sports and media center named after NBA legend Kenny "The Jet" Smith.
Following the successful completion of the first phase, which established the facility as New York City's first full-fledged casino, the resort has already generated $170 million in casino taxes within its first 12 weeks of operation. The total expansion is expected to add 2 million square feet of space and create approximately 10,000 jobs.
Once fully completed, the Las Vegas-style resort is projected to generate $2.2 billion in annual revenue. Genting Group, which has a global presence in the Bahamas, Malaysia, and Singapore, continues to expand its gaming empire under Lim Kok Thay's leadership.
(Source：Google News)