Eddy Khoo's comment on GENM. All Comments
Eddy Khoo
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1.7 billion funds raised in less than a month? why suddenly need so much of cash?
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2 weeks · translate ·
cheng
Takes time to raise funds including selling the Miami lands. New York casino license hard dateline is fixed :) GenM's proposal for the license includes hotel, conference centers and housing projects; mega development. RWNYC is one of the two front runners for the 3 license. Got to get ready the funding perhaps :)
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Eddy Khoo
That the one time payment for the license is already USD500 mil. Raising fund in RM1.7 billion won't be enough. selling of the Miami land is indeed essential..not forgetting that the proposal is around USD5 billions
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cheng
That's right, Eddy. The 5bil is total development cost which will take a few years. The full casino license can start generating revenue/income as it is using existing facility without the need for construction.
2 Like · 2 weeks · translate