New York's Resorts World may undergo swift transition into a conventional casino establishment.
In the heart of New York City, Resorts World New York City (RWNYC) has submitted a bid for one of the three highly coveted downstate casino licenses, aiming to transform the existing casino in Queens into a world-class integrated resort.
With a proposed investment of $5.5 billion, the project promises to create thousands of jobs and generate substantial tax revenue for the city and state. If approved, construction could commence as early as July 2025, with the potential for the conversion to a Las Vegas-style casino hotel within six months.
Robert DeSalvio, President of Genting Americas East, highlighted the project's potential to deliver world-class amenities, including a 500,000-square-foot gaming floor, 2,000 hotel rooms, a 7,000-seat entertainment venue, and more than 10 acres of community greenspace. The proposal also includes plans for over 30 food and beverage outlets, large-scale meeting space, and other resort amenities.
The project, if realized, could be one of the largest privately funded economic development projects in New York State history. It is estimated that the construction phase could create around 5,000 union construction jobs. Once operational, the resort is expected to provide significant employment opportunities, contributing to the city's workforce.
Resorts World New York City leverages its long community ties with a global approach, aiming to transform Queens into the strongest gaming, hospitality, and entertainment destination in the United States. The venue, with its existing infrastructure, could potentially get full slot operations and table games up and running within six months of license awarding.
The proposed integrated resort could provide new career opportunities and tax revenue almost immediately, as soon as July 2026. The project is backed by rapper Nas and members of the Queens community, demonstrating a strong local support.
The downstate casino licensing process is currently at an advanced stage, with eight applications submitted by the June 27, 2025 deadline. Operators bidding for the permits expect regulators to announce the winners by the end of this year. However, it's important to note that the process of awarding the downstate licenses has sometimes taken longer than expected in New York.
Resorts World, alongside MGM Resorts, is considered a leading contender for one of the three licenses. The competition is stiff, with other major bidders like Wynn Resorts and Las Vegas Sands initially in the race, although they have since withdrawn.
The Resorts World New York City proposal also includes plans for up to 50,000 affordable housing units across New York City, separate from the casino proposal. The project aims to service the local community, the tri-state region, and international travelers, including many of the 63 million passengers who travel through nearby JFK airport every year.
This news marks an exciting development in the gaming business and mergers and acquisitions landscape, as Resorts World New York City positions itself as a front-runner in the competition for a downstate casino license. The outcome of the licensing process is eagerly awaited, with key milestones expected in the fall of 2025.
(Article by Todd Shriber)
- Resorts World New York City (RWNYC) has submitted a bid for a downstate casino license in the mid-Atlantic region, intending to transform the existing casino in Queens into a world-class integrated resort.
- The proposed project promises regulation of commercial gaming on a large scale, including a 500,000-square-foot gaming floor and several thousand hotel rooms.
- The development could generate substantial finance for the city and state, with the potential for thousands of jobs and tax revenue, possibly starting in July 2026.
- Besides creating new career opportunities, the integrated resort could contribute to regional news stories, such as real-estate developments and business expansions, in the tri-state area.
- Notably, the casino-and-gambling venue plans to provide affordable housing units across New York City, separate from the casino proposal.
- The proposed integrated resort, if realized, could potentially increase investment in casino-games and other casino-and-gambling ventures in cities like Las Vegas, as the Queens venue positions itself as a leading competitor in the casino industry.
