Two months on from the unveiling of updated plans for a huge expansion to Resorts World NYC, little progress has been made as its future appears to depend entirely on the award of gaming licenses elsewhere in the state.
Fronted by Genting Group CEO Roberto DeSalvio, new details and renderings of the $5 billion investment to transform its Resorts World site in Queens into a Vegas-scale casino were revealed in late March.
The property is already the highest-grossing of its kind outside of Nevada. Part of the Aqueduct Racetrack complex, Resorts World NYC opened in 2011 and houses a casino, hotel and live entertainment space. In the years that have followed, proposals to expand and transform the property have been repeatedly mooted.
The venue also offers in-person betting, complementing the online Resorts World Bet sportsbook that operates in the state.
The future of the project though may be in jeopardy depending on the casino license award process and the nature of it.
The New York State Gaming Commission recently signaled a further potential pushback for the timeline of granting those licenses which now might not be until the end of 2025.
The Resorts World NYC proposals for the “once in a generation opportunity” that would create one of the world’s largest casinos, forecast $1 billion in annual tax payments on top of the $500 boost to state receipts from the fee for a license.
Further, the Genting Group subsidiary’s plans include an extended hotel and new parkland. There will also be a campus bearing the company name, a healthcare center, Kenny ‘The Jet’ Smith basketball academy, and a new education facility.
The infrastructure to support the development is also part of the proposal. This features new transit connections to Manhattan and JFK Airport. In addition, 3,000 housing units will be built, mainly to accommodate the new workforce. The group forecasts that the transformed complex will generate 5,000 union construction jobs with a similar number of new permanent staff posts to follow.
The award of the new brick-and-mortar casino licenses is part of Senate Bill S8185. The bill also calls for the legalization of online casinos in the State of New York. Licenses will be handed to the existing properties in the upstate region along with the operators of the new downstate land-based casinos. Three more licenses will be available for competitive bids.
It’s the nature of establishing new legal gambling properties that seems to have Resorts World NYC in pause mode. Should the company be awarded one of the new casino licenses then it logically follows that it will push ahead with the redevelopment of its Queens location.
Also, pure speculation it may be but the recent outcry from existing Resorts World NY staff may help their employer’s cause. The workers have argued that the creation of new legal online casino operators will harm their future employment prospects in land-based facilities.
A letter to State Senator Joseph Addabbo, the driving force for changes to gaming legislation, from the Hotel & Gaming Trades Council union that represents many of them said:
“We find it appalling that you are pushing legislation that would hurt workers like us and our industry in order to benefit a handful of companies who are seeking massive profits at our expense,”
Should Resorts World NYC be successful and open a new brick-and-mortar casino downstate and then pursue its plans for the Queens property alongside launching igaming in the state would be a big win for Genting Group and of course its staff.
As one of the best New York betting sites, Resorts World NYC stands at a crossroads. The outcome of the licensing process will crucially impact its expansion and future operations.
With potential for significant economic contributions and job creation, the community and stakeholders eagerly await the decision. This pivotal moment will define not only the future of Resorts World but also set a precedent for gaming and entertainment industries across the region.
