Aqueduct convention center plan breaks down, Las Vegas casinos compete to replace Genting

June 04, 2012 08:30AM

The ambitious plans Governor Andrew Cuomo laid out just five months ago for a massive convention center and possible casino near the Aqueduct race track has already fallen through, the Associated Press reported. Cuomo said talks with Malaysian developer Genting to build the controversial $4 billion center in Queens broke down. The firm had initially signed a non-binding letter of intent to develop the site.

Cuomo has altered his development vision, but still plans on a casino, which he predicted would be permitted when New Yorkers vote to legalize them in the near future.

While Genting isn’t out of the running altogether — it said it would still work to land the project — it will be joined by several major Las Vegas casino companies in a competition to spearhead the development.

The New York Post reported that Sands Las Vegas, Caesars Entertainment and MGM Resorts have all told the state they want to bid on a potential project. The report also said Genting backed out of its non-binding agreement when New York refused to give it the exclusive gaming license in the New York City area. [AP via Crain’s] and [Post]