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Caesars and Genting Ready Bids for New York State Casino Licenses

Brittany Umar
6/30/14 1:55 PM EDT
Formal bids for four New York casino licenses are due today at the state Gaming Commission as entities like Caesars Entertainment and Malaysian casino conglomerate Genting vie for the chance to develop new gaming destinations in the state. The sites for the casinos include the Albany-Saratoga area, the Southern Tier-Finger Lakes region and the Catskills-Hudson Valley area, which is only about 50 miles from New York City. Nine of the seventeen groups who paid a $1 million bidding fee in April are expected to submit bids are for the Hudson Valley region. New York state is expected to determine the winning bids by the fall.
Stocks in this video: CZRNYNYPENN

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