Under Mr. Cuomo’s proposal, the state would forge a joint venture with the Genting Group, the Malaysian company that has invested $800 million in opening a gambling hall at Aqueduct. Genting, not the state, would finance a $4 billion convention center, with a hotel and expanded gambling space, while the government would contribute the land in Queens.
“This will bring to New York the largest events, driving demand for hotel rooms and restaurant meals and creating tax revenues and jobs, jobs, jobs,” Mr. Cuomo said in his State of the State speech. “In addition to the new convention space, up to 3,000 hotel rooms will be developed. We will make New York the No. 1 convention site in the nation.”