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Planned US’s largest convention center gets a flat tire
At $4 billion, it was to have been the US’s largest convention center. The 3.8 million-square-foot center was to be built at Aqueduct Racetrack in Queens near Kennedy Airport by a Kuala Lumpur-based company known for its mega gambling sites.
What happened?
The development company, Genting, in a statement blamed the uncertainty surrounding New York Governor Andrew Cuomo’s efforts to push through a constitutional amendment to create a framework for casinos in the State. The center would have included a casino.
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But it also appeared that the company’s desire for the exclusive right to operate in New York City hampered the talks," said The New York Times.
The newspaper added:
"The breakdown of the Genting plan also highlights the challenges confronting gambling companies now: the industry has matured to such a degree, and casinos have so proliferated in the Northeast, that competitors are desperately seeking to take market share from one another or to block their entry altogether."
Cuomo said he’s now discussing building a convention center and casino with other companies.
By David Wilkening
David
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