Resorts World New York City has announced a substantial commitment to contribute $2.5 billion to the Metropolitan Transportation Authority (MTA) over a four-year period from 2026 to 2029, contingent upon receiving one of New York State’s coveted downstate casino licenses this coming December. This proposal surpasses the MTA’s own forecast of generating $1.8 billion from casino-related revenues during the same timeframe.
The success of this ambitious plan hinges on securing state approval by the end of 2025. Should this happen, the South Ozone Park site is poised to commence its expanded operations as early as March 2026. The offer submitted by Resorts World includes a $600 million licensing fee, which exceeds the state’s minimum requirement by $100 million, and aims to generate $1.9 billion in tax revenues over the stipulated four years. These funds are earmarked to reinforce the MTA’s financial health amidst its ongoing budgetary challenges.
If approved, Resorts World would mark the establishment of New York City’s inaugural licensed commercial casino, potentially operational years ahead of other proposed venues that are not expected to launch until post-2030. The firm asserts that the location would rapidly begin funneling funds into state education and public transit systems, with estimates suggesting $2 billion for educational purposes and $2.5 billion designated for transport initiatives.
Robert DeSalvio, head of Genting Americas East, emphasized the project’s role as a catalyst for sustainable regional growth. He remarked that the development expands beyond mere gambling interests, aspiring to invigorate the broader economy and bolster essential public services.
In a visionary transformation, the Aqueduct Racetrack site is set to undergo a $5.5 billion redevelopment into a sprawling 5.6 million-square-foot resort. The proposal outlines a 500,000-square-foot gaming space housing over 6,000 slot machines and 800 gaming tables, complemented by an entertainment venue capable of accommodating 7,000 patrons. The blueprint further includes 2,000 hotel rooms, more than 30 dining and beverage establishments, and ample parking facilities.
Currently employing approximately 1,000 individuals, Resorts World anticipates that the expanded complex will create 5,000 permanent jobs, alongside an equal number of unionized construction positions. The firm has pledged that at least half of these new roles will be filled by residents of Queens.
The project has garnered substantial local support, with community leaders highlighting its potential to enhance public transit funding and generate employment opportunities. Queens Borough President Donovan Richards Jr. underscored the plan’s capability to inject vital financial resources into the city’s transportation infrastructure. Similarly, Assembly Member Stacey Pheffer Amato lauded the company’s longstanding tradition of community investment, describing it as a paragon of reliable partnership.
Since its inception in 2011, Resorts World New York City has contributed approximately $5 billion to the state’s public education fund and over $2 billion to support the horse racing industry. Managed by the Genting Group, the property attracts nearly five million visitors annually, continually enhancing its status as a premier entertainment destination in the region.
However, not everyone is convinced. Critics argue that the social costs associated with gambling, such as potential increases in addiction and related societal issues, could outweigh the economic benefits. They contend that the state must consider these potential downsides carefully, balancing them against the projected financial gains.
Proponents counter these concerns by highlighting the rigorous regulatory framework that New York State intends to implement, which they believe will mitigate such risks. They assert that the economic advantages — including job creation and substantial tax contributions — are too significant to overlook, particularly in a city that continues to recover from the financial impacts of the pandemic.
This impending decision on casino licensing presents a pivotal moment for New York City, with the potential to shape its economic landscape for years to come. As stakeholders await the state’s verdict, the anticipation underscores the complex interplay between economic development, public welfare, and regulatory oversight.
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