Summary
- Resorts World, a bidder for a casino license in downstate, recently unveiled its plans to redevelop Resorts World New York City.
- The proposal, valued at $5.5 billion, aims to create the largest integrated resort in the United States.
- If given the green light, the project can be completed swiftly and deliver a unique economic impact.
Resorts World New York City (RWNYC), a top hotel and casino vying for one of three new downstate New York casino licenses, has unveiled its plan to create the state's largest fully integrated resort.
If Resorts World obtains one of the three coveted licenses, it would initiate the $5.5bn project
Recognizing it as a once-in-a-generation plan, Resorts World recently presented its ambitious project to the six-member Community Advisory Committee (CAC). As the largest proposal in terms of construction, site size, and casino floor area, RWNYC aims to transform the existing 73-acre Aqueduct site. This transformation, with an astonishing cost of $5.5 billion, is expected to establish Resorts World as the largest entertainment hub in New York once completed. The multi-billion-dollar complex is set to feature 6,000 slot machines, 800 gaming tables, and 2,000 hotel rooms. Unsurprisingly, the large-scale integrated resort will also include a 7,000-seat arena, over 7,000 parking spaces, nearly three dozen dining venues, and various other facilities. Regarding completion and operational risk, Resorts World New York City is almost uniquely risk-free, stated an executive. Robert DeSalvio, President of Genting Americas East, added, We are proud to have partnered with the Queens community for nearly 15 years. Today, the Community Advisory Committee was presented with a vision for a transformative project that will be a game-changer for this borough, the city, and the state. Additionally, the executive highlighted Resorts World's substantial investments in local neighborhoods, estimated in the millions, and the creation of thousands of new jobs. DeSalvio emphasized that since acquiring the Aqueduct operations in 2010, Resorts World has formed enduring bonds with the community. He concluded, We promised to do more in every sense, and today's proposal outlines how we plan to fulfill that promise.
The ambitious redevelopment can be completed swiftly
RWNYC is currently the largest employer for the Hotel and Gaming Trades Council, AFL-CIO, with over 1,000 members receiving full benefits and earning average salaries of $80,000. More than 80% of the venue's employees are people of color, and nearly half are women. Notably, a significant number of RWNYC employees live within five miles of the venue, which helps to keep their salaries within the local community. The redevelopment of the Aqueduct site is expected to create up to 24,000 jobs and generate millions in tax revenue. A key advantage of Resorts World's proposal is its capacity to rapidly complete the project. If granted the desired license, the operator estimates it could open the reimagined venue by July 2026, having already secured the necessary land-use approvals and being ready to commence construction.
