The latest New York City casino proposal was unveiled February 29 by Genting, which announced a sprawling $5 billion renovation and expansion proposal of Resorts World New York City that would include 1,600 additional hotel rooms, a massive casino expansion, a 7,000-seat theater, dozens of new food and beverage outlets and 3,000 employee housing units.
According to Genting executives, who announced the new plan in a presentation in the lobby of the Queens racino, the casino floor would be expanded to 350,000 square feet, which would make it the largest in the world.
In addition to the amenities, the renovations would also include 10 acres of park land as well as transportation services to nearby John F. Kennedy Airport, but exact details were not disclosed.
“When we stood here more than a dozen years ago to break ground on Resorts World New York City, our vision extended well beyond that already-ambitious original plan — today, that vision can soon become a reality,” Robert DeSalvio, president of Genting America East, said in a statement.
The racino first opened in 2011, and operates video lottery terminal (VLT) slots and electronic table games alongside horse racing at Aqueduct. To date, Genting has invested more than $1 billion into the property.
In addition to the casino expansion, Genting also announced a $50 million investment in what will be called the Genting Innovation Campus, which will include a youth sports academy in partnership with former NBA player and longtime broadcaster Kenny “The Jet” Smith, who is a native of Queens.
In a statement to the New York Post, Smith said that Resorts World “came to me with a clear goal of fostering tomorrow’s athletes, student-athletes, and leaders both on and off the court.”
“Their investment in this Academy will help us teach the next generation the nuances of the game on and off the court, as well as the social, economic, and cultural impact of sports. I’m thrilled to partner with them to improve the borough that raised me and take it to the next level,” he continued.
The grand proposal is tied to Genting’s quest to obtain one of three coveted $500 million downstate New York casino licenses, which are expected to be awarded by the New York Gaming Facility Location Board sometime in the next year or so.
The new licenses will allow for Las Vegas-style slot machines as well as the addition of sports betting and traditional table games like blackjack, baccarat, craps and roulette.
Given their experience and foothold in the market, Resorts World as well as MGM Resorts’ fellow racino Empire City are expected to be frontrunners for two of the three allotted licenses, but that is no guarantee.
The increasingly competitive field of entrants also includes bids from Related Companies and Wynn Resorts; Mets owner Steve Cohen; the Soloviev Group and Mohegan Gaming and Entertainment; the Chickasaw Nation, Thor Equities and Saratoga Casino Holdings; Las Vegas Sands Corp.; Caesars Entertainment; Bally’s Corp. and more.
