GENTING, NYRA HOLD CEREMONIAL CHECK PRESENTATION AT AQUEDUCT

**Please see the attached photo from today’s check presentation ceremony, with NYRA Executive VP and COO Hal Handel and Genting New York President Mike Speller holding the check, and New York Thoroughbred Horsemen’s Association President Rick Violette, Jr. in the background. Credit NYRA, Adam Coglianese**

 

Friday, October 22, 2010

 

Contacts: Dan Silver, NYRA

dsilver@nyrainc.com

 

Stefan Friedman, Genting

friedman@skdknick.com

 

GENTING, NYRA HOLD CEREMONIAL CHECK PRESENTATION AT AQUEDUCT

 

OZONE PARK, N.Y. – Genting New York presented The New York Racing Association, Inc. (NYRA) with a $25 million ceremonial check Friday at Aqueduct Racetrack, the future site of Genting’s Resorts World New York Casino, in a gesture representing the emerging partnership between the two organizations. The ceremonial check demonstrates that Genting is prepared to honor New York State’s commitment to loan NYRA $25 million.

 

“Genting is proud to be able to assist NYRA as it rolls out significant improvements that will lead to an even stronger horse racing industry around the state,” said Genting New York President Mike Speller. “Moving forward, Genting is eager to work closely with NYRA to transform the current facility into a casino and racetrack that will be the envy of the country.”

 

With work on Resorts World set to begin as soon as next Thursday, Genting and NYRA are poised to begin Aqueduct’s transformation into a world class racing and gaming facility.

 

“Today’s ceremony demonstrates the strong relationship that NYRA and Genting have already begun to form,” said NYRA Executive VP and COO Hal Handel. “NYRA representatives have been working daily with Genting executives, architects, engineers and construction contractors on this very exciting project. A successful casino at Aqueduct will provide the entire New York thoroughbred industry with much needed revenue and will allow NYRA to increase purses and undertake important capital improvement projects at Aqueduct, Belmont Park, and Saratoga.”

 

From trainers to breeders, all segments of the racing industry in New York will benefit from the growth of the Resorts World New York Casino at Aqueduct.

 

“It seems like New York racing has been in crisis mode for the last decade, and this exciting partnership with Genting has finally provided light at the end of the tunnel,” said Rick Violette, Jr., president of the New York Thoroughbred Horsemen’s Association, Inc. “New York horsemen can now plan on significant purse increases over the coming years, helping to provide job stability for 35,000 hardworking people from breeders to trainers to grooms who make up the industry in our state. Genting has been enthusiastic about collaborating with horsemen to embrace and showcase our great sport, and we look forward to working with them on this critically important new project.”

 

 

“Genting’s casino, housed at Aqueduct Racetrack, is the single most important development to the New York State Breeding & Racing Industry in the last 30 years,” said Jeffrey Cannizzo, executive director of the New York Thoroughbred Breeders, Inc. “This development will not only strengthen the economy and create jobs, it will safeguard 45,000 acres of open space and 300 thoroughbred breeding farms in 50 counties that employ 35,000 workers in New York State. We are now positioned to repackage and reintroduce the thoroughbred industry for the great sport it is.”

 

About Genting

 

Founded in 1965, Genting is a global entertainment and tourism Group operating in Asia, Europe, North America and on all four oceans through the Norwegian Cruise Line and Star Cruises brands. The Group has more than 35,000 employees, a combined market cap of $37.5 billion and runs the most profitable casino in the world, located in Singapore.

 

About NYRA

 

Founded in 1955, and franchised to run thoroughbred racing at New York’s three major tracks through 2033, NYRA boasts a lineage that actually stretches back almost 150 years. NYRA tracks are the cornerstone of the state’s thoroughbred business which contributes more than $2 billion annually to New York State’s urban, suburban and rural economy. In 2009, more than 1.6 million people attended the live races at NYRA tracks. Factoring nationwide off-track wagering, the average daily betting handle on NYRA races alone totals more than $9.3 million every race day. NYRA has a vast network of websites, including www.nyra.com, www.belmontstakes.com, and www.nyragroupsales.com. You can also follow NYRA on social media platforms Facebook, Flickr, Twitter, and YouTube.

 

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