Malaysian casino operator Genting Bhd spent a total of US$2.48 million on lobbying for casino licences in the New York State between 2012 and 2013, according to a new report.
The group spent a further US$984,244 in contributions to state and local political committees during that period, according to records compiled by the New York Public Interest Research Group.
The report says companies involved in bidding for casino licences in upstate New York spent over US$11 million on lobbying and campaign donations in 2012 and 2013.
Genting has proposed two separate casino projects for upstate New York. Genting has not revealed the investment amount planned for each of the projects, only saying it would be “well above the minimum required”.
Genting’s chief executive Lim Kok Thay is involved in a third bid for a casino project in New York State. He and his family are part owner of Empire Resorts Inc, one of the companies bidding for a licence in Orange County.
Genting already owns and operates the Resorts World Casino New York City (pictured), which opened in October 2011 in Queens.
The New York gaming regulator is expected to pick winners before year-end.
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Vitaly Umansky, Louis Li and Shirley Yang
Analysts at Sanford C. Bernstein