A Malaysian gaming giant with plans to turn a down-on-its-luck Aqueduct into a glamorous gambling spot got the thumbs-up yesterday from New York lottery officials to operate 4,500 video slot machines at the Queens track.

Lottery bigwigs were particularly impressed by Genting New York’s plans for a VIP room with breathtaking fountains and sweeping views of the track. Plus, Genting promised to pay $380 million up front — $80 million more than the state had required.

The project is expected to generate more than 2,000 jobs.