KUALA LUMPUR: Genting Group contributed over US$1.6 million (RM5 million) to political parties and the election committees of top legislators in New York and Florida last year. It joined the ranks of top lobbying interest groups which include casino opponents, Walt Disney World Co and the Florida Chamber of Commerce.
In the second half of 2011, Disney donated US$672,000 to political campaign funds in Florida, while Florida Jobs PAC — a committee affiliated with another casino critic, the Florida Chamber of Commerce — gave US$370,000, The Miami Herald reported last Friday citing official Florida campaign data. Another opposing the casino-resort bill, the Seminole Tribe of Florida that is already licensed to operate casinos within Indian reserve land, reportedly donated over US$280,000.
Genting’s contribution over the last six months of 2011 was US$509,000 in Florida, The Miami Herald said. Another Associated Press report dated Jan 10, however, calculates Genting’s contribution to political parties, legislators and committees in Florida at more than US$626,000 in 2H11, including tabs picked up on food and beverages and the like.
Over at the Big Apple, Genting reportedly spent US$975,000 on lobbyists in 2011. Of this amount, US$635,000 was spent in 2H11, Bloomberg reported on Wednesday, citing the latest disclosure reports released in Albany, the capital of New York state.
The doubling of campaign donations came ahead of New York governor Andrew Cuomo’s announcement of the proposed US$4 billion convention centre and mixed development plan that is set to be the largest in the US, to be built right next to Genting’s Resorts World New York (RWNY) “racino” next to the Aqueduct Racetrack in Queens. Cheques Genting wrote out to lobbyists in New York didn’t influence the governor, Bloomberg quoted Cuomo’s spokesman, Josh Vlasto, as saying in the same report.
Whatever the case may be, going by the media attention it has received since being named as a partner in Cuomo’s US$4 billion plan, the “Genting” name — which is relatively unknown in the US — seems to be making some headway in playing catch-up with well-entrenched casino brands like Las Vegas Sands, MGM, Caesar’s Palace and Wynn. The need to build up its brand in the US is among a list of things that CLSA-Credit Agricole Securities gaming analyst Jon Oh said Genting needs to do to get ahead in the US.
The New York Times, in a Jan 12 write-up for instance, declared Genting “an instant force in gambling”, detailing how the group had spent hundreds of millions on land and had hired dozens of lobbyists and public relations firms to push its cause.
“We just want to make sure we’re properly represented,” Genting Americas CFO Christian Goode was quoted as saying by The New York Times in the write-up.
As it is, Genting does not have a full-fledged casino licence anywhere in the US, but its RWNY is the only party licensed to operate an electronic gambling hall in New York City. RWNY is currently something of a “virtual casino” offering electronic table games and video slot machines through an arrangement with the New York Racing Association, which operates the Aqueduct Racetrack.
In a recent interview with The Edge weekly, Goode said Genting’s current focus is to deliver on its promises in New York and Miami. “We believe New York and Miami are unique opportunities in the US market and therefore our current focus is on making both [ventures] successful,” he said.
This article appeared in The Edge Financial Daily, January 20, 2012.
