The Genting group-run Resorts World New York City gaming complex (pictured), in Queens, has in 2023 “reclaimed its position” in the United States “as the highest grossing commercial property outside Nevada”.
That is according to the latest edition of the American Gaming Association (AGA) Commercial Gaming Revenue Tracker, published on Tuesday. Its data relates to U.S. casinos excluding the tribal gaming sector.
According to a graph in the report, the venue generated more than US$900 million in revenue last year, representing a year-on-year improvement of more than 20 percent.
Resorts World New York City, run by Genting Americas, is circa 4 miles (6.4 kilometres) from John F. Kennedy International Airport. Malaysia’s Genting group also has investment in Resorts World Hudson Valley, in upstate New York, and in Resorts World Las Vegas in the Nevada gaming hub, as well as in Empire Resorts Inc. The latter operates upstate New York property Resorts World Catskills.
Genting also runs Resorts World Sentosa in Singapore, and Resorts World Genting in Malaysia, as well as casinos in the United Kingdom, the Bahamas and Egypt.
It is expected in the coming years that up to three downstate full-casino licences will be permitted in New York.
A recent memo from S&P Global Ratings mentioned project sizes from bidders were likely to range from “US$2 billion on the low end for expansions or redevelopments of existing properties, to more than US$5 billion for new developments”, with associated effects on investing firms’ leverage.
The AGA Commercial Gaming Revenue Tracker said that MGM National Harbor, run by MGM Resorts International, parent of Macau concessionaire MGM China Holdings Ltd, was in second place in 2023 among the non-Nevada U.S. commercial casinos, with more than US$800-million in revenue, a year-on-year growth of more than 15 percent.
Encore Boston Harbor, by Wynn Resorts Ltd, parent of Macau concessionaire Wynn Macau Ltd, was in third spot, with more than US$700-million in revenue, a year-on-year growth of more than 15 percent.
The AGA report stated: “At the individual property level, 11 of the top 20 highest grossing commercial casinos outside of Nevada and Mississippi saw an uptick in combined land-based gaming revenue from slot machines, table games and retail sports betting compared to 2022.”
The document also outlined that commercial revenue across the U.S. reached an annual record of US$66.52 billion in 2023.
