If granted a industrial gaming license in December, Resorts World will be capable to increase its operations as quickly as July 2026, tripling its workforce quickly afterward.
Resorts World New York Metropolis has submitted its supplemental software to the New York State Gaming Facility Location Board, which required candidates to submit materials equivalent to projected tax income earlier than the Oct. 14 deadline.
Resorts World, which has operated a racino in South Ozone Park for the final 15 years, providing digital playing machines however no reside desk video games, has lengthy been thought-about one of many frontrunners to obtain one of many three downstate gaming licenses on provide.
The Resorts World crew submitted supplemental supplies forward of Tuesday’s deadline, which required candidates to submit materials equivalent to projected tax charges on gaming income, income estimates based mostly on three totally different licensing eventualities, and anticipated state and metropolis tax income for every situation.
In keeping with materials filed with the state, Resorts World has estimated that it’s going to generate as much as $18.8 billion in state and native tax funds for the preliminary ten years of operations on the whole resort whether it is awarded a license by the state this December.
It has additionally argued that it will generate probably the most gaming income out of any of the remaining bids, no matter what number of licenses are awarded on the finish of the yr.
Resorts World expects to open the primary section of its on line casino by the summer time of 2026 if it receives one of many three on line casino licenses on provide and mentioned it will generate $11 billion in gross gaming income throughout the first 5 years of licensure, leading to roughly $5 billion of casino-based tax income by 2031.
It has additionally pledged $600 million to its license payment, $100 million greater than the payment required by the state.
Resorts World has outlined a whopping $5.5 billion proposal to rework the present racino right into a sprawling 5.6 million square-foot growth that the gaming firm says will create hundreds of jobs, generate expansive public facilities and ship new, inclusive development for southeast Queens. It has additionally pledged an additional $2 billion in group advantages.
The brand new built-in resort would see Resorts World’s present workforce increase from 1,000 present staff to five,000 everlasting jobs throughout gaming, hospitality, meals and beverage, safety, upkeep and different fields.
Resorts World has said that greater than half of the brand new hires would come from Queens alone, with all employees as a consequence of start work throughout the first six months of business on line casino operations.
The venture would additionally create an estimated 5,000 union building jobs to assist construct out the built-in resort, which can characteristic a 500,000 square-foot gaming flooring comprising greater than 6,000 slot machines and 800 desk video games. The resort would moreover characteristic 2,000 lodge rooms, a 7,000-seat leisure venue, over 30 meals and beverage retailers and greater than 7,000 parking areas.
Resorts World cited an up to date financial evaluation stating that the venture would create 100,000 building, everlasting, oblique and induced jobs because it transforms the present facility into the built-in complicated.
The complicated would additionally characteristic large-scale assembly areas, 3,000 models of workforce housing, enhanced public transit connections, a STEAM college and greater than 10 acres of group greenspace.
Robert DeSalvio, president of Genting Americas East, the entity overseeing the Resorts World growth, mentioned Tuesday’s supplemental software provides proof that Resorts World would maintain its guarantees to the South Ozone Park group.
“No other project will come online faster, generate more financial impact, create more jobs or send more revenue to the state’s education fund, the MTA and local communities than Resorts World New York City,” DeSalvio mentioned in an announcement.
Queens Borough President Donovan Richards mentioned the Resorts World bid would remodel Queens into a world vacation spot.
“The jobs, economic opportunity, and amenities in this proposal will change families for generations to come, faster and at a larger scale than anyone else,” Richards mentioned in an announcement.
Resorts World was one in all 4 initiatives to obtain approval from Group Advisory Committees (CAC) final month, with fellow Queens venture Metropolitan Park and a Bally’s venture within the Bronx additionally receiving CAC approval. MGM’s Empire Metropolis additionally obtained CAC approval, however its shock withdrawal on Tuesday has left simply three initiatives competing for as much as three downstate licenses.
MGM said Tuesday that altering financial and aggressive situations had rendered the venture now not viable. MGM additional pointed to a discount within the anticipated license time period from 30 years to fifteen years, stating that it will alter returns on its deliberate $2.3 billion funding.
