Resorts World NYC Opens First Phase, Becoming New York City’s First Full-Scale Casino
Resorts World NYC has launched the first phase of its $5.5 billion expansion, debuting 240 table games and 2,500 slots to become New York City’s first full-scale casino.
Resorts World NYC opened the first phase of its $5.5 billion renovation and expansion on Tuesday, debuting 240 table games alongside approximately 2,500 slot machines at its Queens location. The opening came ahead of schedule, originally planned for June, and marks a historic first for the downstate region. New York City residents previously had to travel upstate or cross state lines to New Jersey or Connecticut to access Class III table gaming.
“Live table gaming is officially open in New York City for the first time ever,” said Robert DeSalvio, president of Genting Americas East. “With our planned $5.5 billion expansion, this is only the beginning of something much bigger for Resorts World and for New York.”
A Multi-Year Head Start
The timing gives Resorts World a significant and durable competitive advantage. The other two downstate license winners, Bally’s Bronx and Metropolitan Park, are both greenfield developments with projected openings in 2030. That means Resorts World will operate as the sole full-scale casino in New York City for at least four years, in one of the most densely populated and highest-spending markets in the country. It’s projected that this new venture will contribute approximately $2.5B to MTA over the next four years.
CBRE estimated in a March report that a mature New York City casino market will generate between $4.7 billion and $5.6 billion in annual gross gaming revenue once all three properties are fully operational, making it the second-largest casino market in the United States, behind only Las Vegas. New York’s Gaming Facility Location Board projected the three casinos could generate more than $7 billion in gaming tax receipts and $5.9 billion in non-gaming tax revenue over the 10-year period ending in 2036.
Resorts World’s ability to use existing, unused space from its former racino operation allowed it to move faster than any greenfield competitor could. That speed translates directly into revenue. Every month of exclusive operation is revenue no competitor can reclaim.
The Buildout Ahead
Tuesday’s opening is a starting point, not a destination. The expansion will continue in phases through 2031. Resorts World’s ultimate goal is 800 table games and 6,000 slot machines, which would represent the highest totals of any casino in the United States if achieved. The Gaming Facility Location Board’s December license recommendation noted that Resorts World’s submission accounted for approximately 530 tables and 4,600 slots, somewhat below the stated targets, but the direction is clear.
The full build will take the property from a converted racino into a world-class integrated resort destination designed to compete with Las Vegas and Macau for high-end gaming and hospitality business.
How Resorts World Won the License
Resorts World’s path to the license was not without turbulence, but its eventual selection was widely anticipated. The company was aggressive from the beginning of the application process, and its financial commitments ultimately set it apart from the field.
It offered a $600 million license fee, $100 million above the state’s $500 million floor. It proposed slot tax rates of 56% and table tax rates of 30%, compared to 25% and 10% for the other winners. It projected $2.5 billion in tax revenue for the Metropolitan Transportation Authority over four years, exceeding the MTA’s own $1.8 billion budget target. And it raised its workforce and community commitments to $2 billion, bringing its total project commitment to $7.5 billion.
The Gaming Facility Location Board noted that of the three finalists, only Resorts World’s projections significantly exceeded those produced by the state’s consultants. The most comparable competing bid came from MGM Empire City in Yonkers, another existing VLT facility seen as a strong candidate. MGM ultimately withdrew from consideration, citing concerns about competition and license length, clearing further runway for Resorts World.
What It Means for Genting
The New York opening arrives at a consequential moment for parent company Genting. Resorts World Las Vegas is recovering from a $10.5 million anti-money laundering fine last year, the second-largest regulatory penalty ever assessed in Nevada, and has since implemented a property-level board of directors to address compliance and operational concerns. Resorts World Sentosa in Singapore received only a conditional two-year license renewal in 2024 after regulators cited underperformance, prompting Genting to accelerate a $5.3 billion expansion of that property.
New York is Genting’s most significant growth opportunity in years. A four-year window as the only full-scale casino in one of the world’s premier entertainment markets gives the company the revenue runway it needs to fund ongoing expansions elsewhere and demonstrate to regulators and investors that its broader turnaround is on track.
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