Genting Malaysia Berhad’s Resorts World New York City has positioned itself as a leading contender for a downstate New York casino license while noting the substantial revenue it will supply to the city’s Metropolitan Transportation Authority as part of its bid.
The company projects in a press release that if it secures the license by the end of 2025, its expanded gaming complex in Queens could generate approximately $2.5 billion in license fee and tax revenue for the MTA over the next four years, according to GGRAsia. The MTA is to receive the majority of revenue generated from the state’s issuance of up to three downstate casino licenses.
Key Takeaways:
- Genting projects a $2.5 billion MTA contribution if awarded a downstate casino license
- Plans include a $5.6 billion mega-resort in Queens with 6,000 slot machines and 2,000 hotel rooms
- This move comes after major competitors withdraw, solidifying Resorts World’s position in the race
$2.5 Billion MTA Contribution Anchors Genting’s Bid
Genting’s projected MTA contribution includes a $600 million upfront license fee and an estimated $1.9 billion in tax payments from 2026 through 2029, surpassing the MTA’s current budget expectation of $1.8 billion in casino fees and taxes during that period. The proposal reflects Genting’s plan to invest heavily in the region’s gaming and entertainment infrastructure.
Genting’s submission outlines a $5.6 billion development project to transform its existing electronic gaming facility in Queens into the largest integrated resort in the United States.
The upgraded complex would feature a 500,000-square-foot gaming floor equipped with roughly 6,000 slot machines and 800 table games. It also includes 2,000 hotel rooms, a 7,000-seat entertainment arena, diverse dining options and more than 7,000 parking spaces.
Robert DeSalvio, president of Genting Americas East, described the initiative as more than just a casino expansion, framing it as an economic development project aimed at supporting New York City’s transportation needs by providing consistent revenue to the MTA starting in 2026.
Competitors’ Exits Strengthen Genting’s Downstate Advantage
Genting’s bid has gained momentum following the withdrawal of other major gaming operators from the downstate license competition, such as MGM Resorts, Las Vegas Sands and Wynn Resorts. With MGM Yonkers having exited the race, Resorts World New York City is now the only bidder with an operating commercial casino prospect in the region. It targets a casino opening next year if awarded a license.
This operational timeline contrasts with other proposed casinos in downstate New York, some of which are not expected to open until after 2030. New York State Senator James Sanders Jr. expressed support for the bid, noting the immediate benefits for the MTA and emphasizing the need to focus on expanding accessibility for residents.
In addition to the direct financial commitments, Genting submitted a supplemental proposal valuing the total investment at $7.5 billion. This amount includes $2 billion earmarked for community benefits designed to promote economic growth beyond gaming revenues.
