Monday, June 4, 2012

Megacasino not happening right now

From the NY Times:

A $4 billion plan announced by Gov. Andrew M. Cuomo to create the country’s largest convention center and a casino in Queens has fallen apart, the governor acknowledged on Friday.

The project, which was to have been built by a Malaysian gambling company at the Aqueduct racetrack near Kennedy Airport, was a signature initiative of Mr. Cuomo’s and a central thrust of his State of the State address in January.

Mr. Cuomo, a Democrat, said during a radio interview that negotiations between the state and the Genting company, which was expected to pay the development costs, had broken down.

“The conversations haven’t really worked out,” he said.

The revelation left a fog of uncertainty over Mr. Cuomo’s drive to bring casino gambling to New York City, which his administration views as a key source of jobs and revenue. The Genting proposal alone was expected to create 10,000 construction jobs and 10,000 permanent jobs.

Genting issued a statement saying that company officials “continue to want to invest in New York and plan to do so for years to come,” but that the uncertainty surrounding Mr. Cuomo’s efforts to push through a constitutional amendment to create a framework for casinos in the state made it difficult to reach a deal.

But it also appeared that the company’s desire for the exclusive right to operate in New York City hampered the talks.

On Friday, Mr. Cuomo sought to cast the breakdown of the deal as a positive, saying the state is now entering into discussions with other gambling companies. He said he planned to set up a competitive bidding process and entertain other casino proposals next year.


Anonymous said...

What was Cuomo thinking? What a short-sighted idiot, just like his father. Listen to your constituents Mr Govenor, for they know best.

Anonymous said...

Gee, Cuomo didn't get his way. I smell tantrum.

Anonymous said...

Another bullshit boondoggle plan
bites the dust.

Willets Point; Flushing Commons;
now this super casino....LOL!

There's a lot of big talk
but no money to back it all up
going on these days.

But what can you expect in a ruptured economy?

Refurbish the RKO Flushing Keith's and put a posh gambling house there.

The local Asian residents are notorious gamblers.

It would be a great draw
in attracting visitors coming through the airports too.

Add a luxurious spa complex on the 2nd and 3rd floors and you'd have an overnight success..

Anonymous said...

No business with the ability to choose where to start or to grow will choose New York City. The state and city have fat thumbs on the scale to tax, to regulate, to demand concessions, that no business-friendly locales will impose.

So, the city starts the lunatic megaprojects that cannot go anywhere, and gets into a bidding war between boroughs over every company moving 100 employees from one place to another. Why can't it just get out of the way?

georgetheatheist said...

"What was Cuomo thinking? What a short-sighted idiot, just like his father."

And don't forget his role in causing this, the Great Recession.

Check that out here.

Anonymous said...

That Malaysian gambling firm that was going to run the casino probably didn't promise Cuomo enough money to run his re-election campaign.

why do we need foreign companies
to run our gambling operations, when we have so many well qualified mafiosi right here at home that could do the job?

Anonymous said...

Those crooked Cuomos...
born and bred in south Jamaica...
still have shady intentions.