Gotham's only current operating casino presented its expansion plan in hopes of landing one of three coveted downstate gaming licenses.
Key takeaways
- Resorts World presented its plan to add a $5.5 billion complex to its already existing Queens casino.
- The gaming and resort company pointed to its well-established community involvement.
- Resorts World is one of eight developers bidding to obtain a downstate casino license.
Resorts World New York City (RWNYC) announced Monday that it introduced a $5.5 billion proposal to transform its 6,500 slot machines and electronic table games, a Queens-based gambling hall, into a 5.6 million-square-foot resort and entertainment complex to the Community Advisory Committee (CAC).
“What the Community Advisory Committee heard today was a vision for a transformative project that will be a game-changer for this borough, the city, and the state,” said Robert DeSalvio, president of Genting Americas East. “Since Resorts World was granted operations of the Aqueduct site in 2010, we have sought to be a neighbor that Queens deserves, providing 1,000 good union jobs, invested millions of dollars into our neighbors, and built everlasting bonds with the community. But we also made them a promise to do more in every sense of the term, and today’s proposal lays out just how we will.”
Expansion plan
World-renowned chefs Marcus Samuelsson and Scott Conant were part of the Resort World team’s presentation that pitched a gaming area expected to house 6,000 slot machines and 800 table games. The resort and entertainment proposal includes 2,000 hotel rooms, a 7,000-seat arena, more than 7,000 parking spaces, and a green space.
The operator will add over 30 food and beverage options and a spa to the 73-acre Aqueduct site that's housed the casino for 15 years. Resorts World already obtained all the land-use approvals to begin construction quickly if it receives a license, and the company said it could open the expanded complex as early as July 2026.
“When it comes to completion and operational risk, Resorts World New York City stands uniquely as almost risk-free,” Resorts World Chief Legal and Strategy Officer Kevin Jones told the CAC during the presentation.
Community benefits
In its presentation to initiate the statutory process with the CAC, RWNYC emphasized its already well-established benefits to the Queens and larger community. The casino operator provided $4.5 billion to the state’s public education fund since 2011, $2 billion in tax revenue to the horse-racing industry, and $200 million in lottery operations.
“Should the casino company receive a full commercial license, those numbers would skyrocket even higher,” RWNYC said in its release.
The casino operator said its new complex would provide 24,000 jobs.
RWNYC believes it will become an even bigger draw to locals, tourists, and international visitors. The site is less than 10 miles from JFK Airport, where 63 million passengers pass through each year.
What’s next?
Resorts World, which also partnered with Queens native and rapper Nas, is one of eight developers bidding for one of the three licenses, but its proposal is the largest by size, build-area, and casino floor.
The deadline to submit a bid was June 27. Resorts World must complete the entitlement process by Sept. 30, when this CAC will vote on the project proposal. Approved applicants can then submit a tax rate to the New York Gaming Facility Location Board. Approvals will be made by Dec. 1 and licenses handed out by the end of the year.
Resorts World is a strong contender for a New York casino license bid, as is MGM Resorts. The group of bidders also includes New York City real estate developer SL Green and Roc Nation, rapper Jay-Z’s entertainment group, with partner Caesars Entertainment for a Times Square casino. New York Mets' owner Steve Cohen and partner Hard Rock International, which proposed an $8 billion Queens project adjacent to Citi Field, are also in the running.
