Genting Malaysia Rises to 1-Month High on New York Proposal
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Genting Malaysia Bhd.’s shares climbed to a one-month high on expectations its $4 billion plan to build the biggest convention center in the U.S. may help boost visitors to its nearby casino, the first in New York City.
The convention and exhibition center will include hotel rooms and an expansion of its casino in the Aqueduct Racetrack in Queens, the Kuala Lumpur-based company said in a statement to the Malaysian stock exchange today. New York Governor Andrew Cuomo yesterday called for replacing the Jacob Javits Convention Center in Manhattan with the new 3.8 million-square-foot complex.