{"id":312425,"date":"2024-02-29T10:27:02","date_gmt":"2024-02-29T16:27:02","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=312425"},"modified":"2024-03-01T11:27:31","modified_gmt":"2024-03-01T17:27:31","slug":"resorts-world-new-york-city-teases-5b-full-casino-license-plan","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/","title":{"rendered":"Resorts World New York City Unveils $5B Full Casino License Plan"},"content":{"rendered":"

Resorts World New York City is among a crowded bidding pool trying to land one of New York’s three downstate casino licenses. That would that permit Las Vegas-style slot machines, table games, and sports betting.<\/p>\n

\"Resorts
Resorts World New York City would undergo a major expansion and renovation upon receipt of a full-scale casino license in New York. Parent company Genting says it would invest $5 billion into the makeover if it gains the rights to Las Vegas-style slot machines, live dealer table games, and sports betting. (Image: Genting)<\/figcaption><\/figure>\n

Resorts World NYC is a racino that operates slot-like video lottery terminals (VLTs) and electronic table games. For the Genting-owned and operated property to secure slot and live dealer table game privileges, plus sports betting, the casino must win one of the three full-scale downstate casino concessions. Those are set to be issued by the New York Gaming Facility Location Board late this year or in 2025.<\/p>\n

Companies pursuing the coveted downstate casino permits are willing to not only fork over the $500 million that each license costs, but also pitch the state substantial projects. Those, the developers say, will improve the community in which the casino would operate.<\/p>\n

\n

Genting’s plan unveiled this week includes not only an expanded casino space with major updates to the facility and many new hotel rooms. but also the construction of a 7,000-seat concert hall. Located at the Aqueduct Racetrack in the Queens neighborhoods of Ozone Park and Jamaica, Genting says if RW New York City<\/a> secures one of the full-scale casino permits, it will additionally build an “innovation campus” with a sports academy for high school student-athletes.<\/p>\n<\/div>\n

That project would come at a major cost.<\/p>\n

Expansion Details<\/b><\/h2>\n

Genting has already invested more than $1 billion into its Queens property. If it receives a full gaming license, company officials said Thursday they would pour another $5 billion into the resort to greatly expand the destination that’s near JFK airport.<\/p>\n

\n

When we stood here more than a dozen years ago to break ground on Resorts World New York City, our vision extended well beyond that already-ambitious original plan. Today, that vision can soon become a reality,”<\/strong> Robert DeSalvio, president of Genting America East, said Thursday.<\/p>\n<\/blockquote>\n

The proposal includes 1,600 new hotel rooms, 30 new restaurant and drinking concepts, the 7,000-seat concert venue, and 3,000 units of employee housing offered at affordable rates.<\/p>\n

The casino would balloon to 350,000 square feet. A 50-acre outdoor park was also detailed in Thursday’s project revelation.<\/p>\n

New York Favorites<\/b><\/h2>\n

Resorts World New York City and MGM Resorts’ Empire City Casino, another racino operating video lottery gaming, are considered the front-runners for two of the three downstate concessions.<\/p>\n

Resorts World is New York’s largest tax generator, with the racino delivering Albany more than $4 billion since it opened a dozen years ago. Genting has invested more than $1.1 billion into the Queens racino and has been a strong state and local partner. The racino has been a major success for Genting, as it’s the richest VLT winner among the state’s 12 racinos.<\/p>\n

\n

During the current 2023\/24 fiscal year that began in April 2023, Resorts World NYC has won more than $563.2 million of the more than $7.5 billion that players bet. The state takes a 50% cut of the net win, or about $281.6 million. Most of the tax benefit — 80% — is earmarked for public education.<\/p>\n<\/div>\n

Empire City reported GGR of $489.1 million during the same 10-month period that ended January 2024. MGM has also pledged to build a major concert space in the NYC area upon receipt of a full gaming license, though a bit smaller at 5,000 seats<\/a>.<\/p>\n

Other companies prepping bids include Hard Rock International at billionaire Steve Cohen’s Citi Field MLB ballpark in Queens, Las Vegas Sands at the Nassau Veterans Memorial Coliseum<\/a>, and Wynn Resorts at Hudson Yards in a partnership with billionaire Stephen Ross.<\/p>\n

Caesars Entertainment is working on a bid in Times Square, Bally’s is developing a scheme in the Bronx<\/a>, Mohegan has a plan near the UN, and a consortium consisting of the Chickasaw Nation, Saratoga Casino Holdings, and Thor Equities wants to bring a resort casino to Coney Island<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Resorts World New York City has proposed a $5 billion expansion.<\/p>\n","protected":false},"author":25,"featured_media":312428,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62],"tags":[82466,88958,82841,34,82549,82548,86341,82138],"acf":[],"yoast_head":"\nResorts World New York City Unveils $5B Full Casino License Plan<\/title>\n<meta name=\"description\" content=\"Resorts World New York City is among a crowded bidding pool trying to land one of New York's three downstate casino licenses.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resorts World New York City Unveils $5B Full Casino License Plan\" \/>\n<meta property=\"og:description\" content=\"Resorts World New York City is among a crowded bidding pool trying to land one of New York's three downstate casino licenses.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-29T16:27:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-01T17:27:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/02\/E9kZg6iWUAIEbpc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/\",\"url\":\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/\",\"name\":\"Resorts World New York City Unveils $5B Full Casino License Plan\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/02\/E9kZg6iWUAIEbpc.jpg\",\"datePublished\":\"2024-02-29T16:27:02+00:00\",\"dateModified\":\"2024-03-01T17:27:31+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Resorts World New York City is among a crowded bidding pool trying to land one of New York's three downstate casino licenses.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/resorts-world-new-york-city-teases-5b-full-casino-license-plan\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/02\/E9kZg6iWUAIEbpc.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/02\/E9kZg6iWUAIEbpc.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Resorts World New York City would undergo a major expansion and renovation upon receipt of a full-scale casino license in New York. 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