New York City Casino Expansion Plan Proposed by Resorts World
In a significant move for New York's casino and entertainment landscape, Resorts World New York has proposed converting its current slots-only casino in Queens into a full-fledged Las Vegas-style integrated resort. The project, estimated at $5.5 billion, could potentially open as early as July 2026, if the company secures one of the state's three downstate casino licenses.
The proposed expansion would see 73 acres of the Aqueduct site transformed into New York’s largest casino resort. The resort would boast 6,000 slot machines, 800 table games, 2,000 hotel rooms, a 7,000-seat arena, over 30 restaurants and bars, a luxurious spa, and more than 7,000 parking spaces, as well as more than 12 acres of public green space.
The potential impact of this project is substantial. It could become the single-largest entertainment hub in the region, generating significant job creation across various sectors, including casino operations, hospitality, food services, and entertainment. Although exact job numbers were not specified, the scale of the resort suggests that new career opportunities will be plentiful.
Moreover, the resort is expected to generate substantial tax revenue for the city and state, leveraging Resorts World's position as the highest casino revenue generator in New York. If awarded a downstate permit, Resorts World New York could potentially direct an additional $1 billion or more per year in taxes to New York.
The timeline for this rapid conversion from the existing slots-only facility to a full-scale Las Vegas-style casino hotel is impressive. Within six months after licensing approval, the initial phase of the resort could be operational, with the remaining amenities and facilities developed progressively, reaching full completion by around 2030.
The community advisory committee (CAC) is currently evaluating casino proposals, and the quick conversion timeline of Resorts World New York could be seen as an advantage. The Genting presentation was met favorably by the CAC, possibly due to this swift delivery potential after licensing approval.
If the project proceeds, the Genting property, which has been a steady contributor to state coffers since 2011, could potentially provide a raft of benefits for the community it has been serving. The property could generate hundreds of millions of dollars of tax revenue for the state and Mass Transit Authority (MTA).
Todd Shriber, referred to as @etfgodfather on Twitter, is at the helm of this ambitious project. The success of this endeavour could solidify Resorts World New York's position as a major economic engine for Southeast Queens, offering substantial new career opportunities and increased fiscal benefits for New York City and State.
This project represents a transformative investment and expansion of New York City’s casino and entertainment landscape, with swift potential delivery after licensing approval. Genting's Resorts World New York is one of the frontrunners for a downstate gaming license in New York, and if awarded, it could create up to 24,000 jobs, making it a significant boon for the region.
- The commercial gaming industry is set to expand significantly with Resorts World New York's proposal to transform its Queens casino into a Las Vegas-style integrated resort.
- The mid-atlantic region may soon witness a regional news sensation as New York moves towards commercial gaming with this potential project.
- The proposed expansion includes the development of New York's largest casino resort, featuring commercial gaming amenities such as 6,000 slot machines, 800 table games, and more.
- The proposed resort is not just about casino games; it also includes a 7,000-seat arena, over 30 restaurants and bars, a luxurious spa, and even 12 acres of public green space.
- The project, if approved, could potentially become a major player in the finance and investing world, generating substantial tax revenue for the city and state.
- The Genting property, if awarded a downstate casino license, could potentially invest in real-estate development, offering increasing business opportunities in Southeast Queens.
- The casino-and-gambling culture of places like Las Vegas might find a new home in New York, as Resorts World New York's proposed resort could redefine casino-games and casino-culture in the region.
