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Old 11-26-2014, 06:49 PM
EA EA started this thread
 
Location: Las Vegas
6,791 posts, read 7,122,825 times
Reputation: 7580

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Genting, the company who was/is to start building Resorts World here at the old Echelon site, is bidding on a NY gaming license. One of 4 being made available in the state. The stall in the Vegas site is a result of that. If they can get that lucrative NY license, they'd have a huge advantage there, whereas they'd just be another casino here. It appears that the Vegas site is hinging on that license. If they do get it, the Vegas site will continue to sit, empty. If they don't get it, they'll continue construction in Vegas.


Since my finances sort of depend on it, I am sure they will get the NY license and forgo Vegas.


Genting plays the baccarat card | Capital New York
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Old 11-26-2014, 07:07 PM
 
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The initial NYS casinos will be outside of NYC. They're trying to use gaming to get done economic development upstate. But I doubt these casinos will be too attractive to Asian whales.
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Old 11-26-2014, 07:11 PM
EA EA started this thread
 
Location: Las Vegas
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Be that as it may, their plan is to jump on NY if they can at the expense of Vegas.
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Old 11-26-2014, 08:34 PM
 
Location: Salt Lake City/Las Vegas
1,596 posts, read 2,813,710 times
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Quote:
Originally Posted by EA View Post
I am sure they will get the NY license and forgo Vegas.
That's speculative.

Genting has very deep pockets and can easily do Las Vegas out of pocket - that's how much that huge corp has on hand. But, Genting wants financials solidly in place - for it's better to risk investors money rather than its own.

Bill
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Old 11-26-2014, 08:40 PM
 
Location: In the Silver State of Nevada in Las Vegas NV
1,062 posts, read 1,809,321 times
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You mean central NYS but if they are not within 25 miles on NYC forget it. Having a casino in NYS will be tough because of the taxes and the state cut which will only be going up and up each year. The East coast gambler is different than the gamblers in Nevada the NYS gambler is much more conservative and they like the sports book which will not be allowed in NYS casinos no Bingo the churches own that one plus they must compete against a NYS Lottery. The Native American casinos such as Turning stone outside of Syracuse area dominates that area and the Catskills do not draw that many tourist any more and the type who want to gamble. There are many hurdles to go over plus the employment problem especially if the casino is in NYC because they will have to pay Fed tax,State tax,and NYC tax. Sorry about the dream of a high volume casino in NYS because look at Atlantic City right now and how they are failing and now Foxwoods is slipping very bad. One other thing to toss in the mix is the weather with that winter crap to deal with. You will not see the cheap food prices as in LV and the Casino will not be located anywhere near a major airport like McCarron with transportation right there for the tourist. So if this bunch Opts for NYS it means they were not going to invest in LV like they said so and probable did not have the financial backing to start with. OK on to the next big thing for LV
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Old 11-26-2014, 08:40 PM
EA EA started this thread
 
Location: Las Vegas
6,791 posts, read 7,122,825 times
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I may have a little inside information...
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Old 11-28-2014, 11:19 AM
 
Location: In the Silver State of Nevada in Las Vegas NV
1,062 posts, read 1,809,321 times
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Quote:
Originally Posted by EA View Post
I may have a little inside information...

So share the wisdom with the rest of us oh great one
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Old 11-28-2014, 02:10 PM
 
15,868 posts, read 14,499,255 times
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I think he did.

Quote:
Originally Posted by irishspy View Post
So share the wisdom with the rest of us oh great one
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Old 11-28-2014, 02:14 PM
 
15,868 posts, read 14,499,255 times
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With all that, a casino in NYC, especially in Manhattan, would instantly be the most profitable casino in the US, and probably the world. There are a couple of limited slot barns, on in NYC but out in the boroughs, and one in Yonkers (just out of NYC), and these are already very profitable. And these don't tap the Manhattan businessperson market. A casino that catered to people working in Midtown (either living in the area or in on business), and that would be easily accessible to them (lets say on the far west side of midtown), would be a license to print money, even after the city and state took their cut.

It will happen, but the way they passed the law, it will take a few years.

Quote:
Originally Posted by irishspy View Post
You mean central NYS but if they are not within 25 miles on NYC forget it. Having a casino in NYS will be tough because of the taxes and the state cut which will only be going up and up each year. The East coast gambler is different than the gamblers in Nevada the NYS gambler is much more conservative and they like the sports book which will not be allowed in NYS casinos no Bingo the churches own that one plus they must compete against a NYS Lottery. The Native American casinos such as Turning stone outside of Syracuse area dominates that area and the Catskills do not draw that many tourist any more and the type who want to gamble. There are many hurdles to go over plus the employment problem especially if the casino is in NYC because they will have to pay Fed tax,State tax,and NYC tax. Sorry about the dream of a high volume casino in NYS because look at Atlantic City right now and how they are failing and now Foxwoods is slipping very bad. One other thing to toss in the mix is the weather with that winter crap to deal with. You will not see the cheap food prices as in LV and the Casino will not be located anywhere near a major airport like McCarron with transportation right there for the tourist. So if this bunch Opts for NYS it means they were not going to invest in LV like they said so and probable did not have the
financial backing to start with. OK on to the next big thing for LV
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Old 11-28-2014, 02:31 PM
 
Location: ( ͡° ͜ʖ ͡°) (╯°□°)╯︵ ┻━┻ ̡
7,112 posts, read 13,165,017 times
Reputation: 3900
Yao, is this good news or bad news?
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