The New York lottery sometime earlier today sent its recommendation for Genting New York for its much awaited project as 3 projects earlier to this were a total failure. This recommendation was sent to the governor by the New York lottery.
The benefits of Genting are that it guarantees a massive $380 million immediate payment which is high by $80 million than its previous high bidders. The next course of action will be that the governor paterson and Senate president Malcolm Smith give it a go ahead signal. Though it looks pretty obvious that there should be no reason why this project might not get a green signal. When we consider the past records and consider the need for money that the state is going through and the boost that will come to New York’s economy it seems quiet obvious that this recommendation will be passed.
One of the officials said that Genting New York was happy with the recommendations made in the proposal. The proposal guarantees $380 million to New York and it will create approximately 2 thousand jobs in sectors like construction and operations of the casinos. Apart from the jobs the casinos are believed to generate revenues which could be some where in the range of $500 million a year. A major portion of this revenue will go towards the funding of educational projects which will help prevent jobs in the teaching sector and help avoid layoffs. Lets hope that this project gets started soon.
Tags: Casino, Genting New York, New York, NY lottery