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Genting to Spend $3-4B in Push for Las Vegas Empire

Genting Bhd, Southeast Asia's biggest gaming group, will spend an initial $3 billion to $4 billion to develop an unfinished resort on the Las Vegas strip, as it seeks to build a U.S. empire of casino and leisure assets.The Malaysian company is seeking to expand in the United States as the world's largest economy starts to recover, and as various states relax restrictions ranging from casino licenses to online gambling.Genting, which has held Malaysia's sole casino license since the 1960s, has focused its international expansion drive on the United States. It opened a casino in New York City in 2011 and has since bought upmarket waterfront properties in Miami.Genting bought the Las Vegas resort this year from Boyd Gaming Corp for $350 million, in its first push into the U.S. gambling mecca dominated by the likes of Las Vegas Sands. Construction of the resort was suspended in 2008 after the onset of the global financial crisis."We are looking at $3-4 billion in total if we get approval f...

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