Genting Malaysia’s Resorts World New York City (RWNYC) has submitted a revised bid to the New York State Gaming Facility Location Board for a full commercial casino license in downstate New York, offering the state a larger license fee and greater community contributions.
A day after MGM Resorts withdrew its own application – leaving just three remaining bidders for up to three licenses on offer – Genting Malaysia said it would now invest US$7.5 billion into its expanded New York casino facility of approved, including US$5.5 billion on the resort itself and another US$2 billion on community benefits.
The proposal, it added, would see RWNYC deliver “unmatched scale, the highest Gross Gaming Revenue, the highest casino taxes of any applicant – regardless of how many licenses are awarded and to what combination of the [three] remaining bidders – generating up to US$4 billion by 2031 in the high-case scenario in which one casino license is awarded.”
IAG notes that the revised bid was submitted to the New York State Gaming Facility Location Board shortly before MGM’s withdrawal, albeit announced afterwards.
Aside from a higher US$600 million license fee, analysts revealed Wednesday that the revised bid includes a 56% tax rate on slots and 30% on tables.
“This is more than a bid – it’s a promise kept to the people of New York,” said Robert DeSalvio, President, Genting Americas East. “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.”
Genting Malaysia’s economic analysis suggests an expanded RWNYC would create more than 100,000 construction, permanent, indirect and induced jobs, the company said, with the property to comprise a 500,000-square-foot casino hosting 10,800 gaming positions, a 7,000-seat entertainment venue, 30 new dining options, day clubs and spas, and more than 12 acres of greenspace.
“Resorts World is on the verge of turning Queens into a global destination – one all New Yorkers deserve,” Queens Borough President Donovan Richards is quoted as saying. “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.”
Genting Malaysia is pushing its ability to open faster than remaining proposals from Hard Rock and Bally’s, leveraging its existing EGM-only facility to complete Phase 1 of the expansion by mid-2026 – around four years earlier than other applicants.
“Upon receiving a full commercial license, Resorts World New York City will immediately begin construction and hire 1,000 new team members for the June 2026 opening,” it said.
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