3Earlier this year, the Genting Group opened the $4.4 billion Resorts WorldSentosa, Singapore’s first integrated casino resort with a Universal Studios theme park,1,350 hotel rooms, and a casino with 1,600 slot machines and 450 table games.The group is the largest casino operator in the United Kingdom, with 44 casinosaround the country including 5 in London. Its Crockford’s Club in London’s Mayfairsection is known as the world’s oldest private gaming club, serving high-end customerssince 1828.Genting also operates several unrelated lines of business. It is a major producerof palm oil with over 330,000 acres of plantations in Malaysia and Indonesia. The groupoperates 7 power plants in Malaysia, China, and India, and has oil and gas productionand exploration interests in China, Indonesia, and Morocco.The group’s current projects include a joint venture with the Simon PropertyGroup (Mall of America, Woodbury Commons Premium Outlets) that is developing theChelsea Premium Outlets Centre in Malaysia, which is scheduled to open in 2011 andis expected to “bring a little bit of Woodbury Commons to southeast Asia.”GENM’s chairman and chief executive officer, K.T. Lim, has been with theGenting Group for 35 years. He has led the globalization of the group, and was namedthe Travel Entrepreneur of the Year and the Most Influential Person in Asian Gaming in2009. He pioneered the cruise industry in Asia, leading the group’s acquisition ofNorwegian Cruise Lines to create, with Star Cruises, the world’s third largest cruisecompany. In 1990, Lim helped the Mashantucket Pequot tribe to establish theFoxwoods Casino Resort in Connecticut, which has the most slot machines, numbering7,200, of any casino in the world. Subsequently, he helped the Seneca Nation ofIndians to establish the Seneca Niagara Casino and Hotel in Niagara Falls, New York.Last year, K.T. Lim’s Kian Huat Realty III Limited made a major investment inEmpire Resorts, the operator of Monticello Casino and Raceway, one of the 8 videolottery casinos already participating in the Lottery’s video gaming program. Theinvestment substantially improved Empire’s financial position and made Kian Huat themajority shareholder of Empire Resorts. In connection with that investment, Lim andtwo other Genting key individuals, G. Michael “Mickey” Brown, and Colin Au, havealready completed the Lottery’s licensing review process and are holders in goodstanding of New York Video Lottery Licenses.
The approval recommendation is based on our evaluation of the Proposalsubmitted by Genting in response to the Request for Proposals for Development andOperation of a Video Lottery Facility at Aqueduct Racetrack (the “RFP”), issued by theLottery on May 11, 2010. The RFP followed direction that the Lottery conduct acompetition to select an Aqueduct video lottery agent according to standard proceduresused by State agencies for the procurement of goods and services. To assure that only