The New York State Gaming Commission voted on Monday to award full casino licences to three sets of investors, paving the way for New York City’s first Las Vegas-style casino resorts.
Genting New York LLC, a unit of global casino operator Genting Malaysia Bhd, is among the companies awarded a casino licence for downstate New York, in the United States.
The Genting group affirmed last month that the Resorts World New York City complex (pictured) in the borough of Queens – currently offering electronic gaming – could become a fully-fledged casino and “begin operations as early as March 2026”.
Genting New York’s proposal entails a US$5.5 billion expansion up to 2030 of the existing venue, and a US$600 million upfront licence fee, in exchange for a 30-year licence.
Monday’s decision follows the recommendation earlier this month by the New York Gaming Facility Location Board, which voted 5-0 in favour of the three finalists that remained in the race.
The other two projects approved on Monday for downstate New York casino licensing were: Hard Rock Metropolitan Park, with plans for a gaming complex near Citi Field in Flushing, also in Queens; and Bally’s Bronx, under Bally’s Corp.
Bally’s wants to open a casino by mid-2030 – via a total capital investment of US$2.3 billion – on a former golf course at Ferry Point, in the Bronx. According to local media reports, the latter deal would net the Trump Organization – founded by the family of U.S. president, Donald Trump – a total of US$115 million.
Hard Rock Metropolitan – a venture between Hard Rock Internacional and billionaire Steve Cohen, owner of the New York Mets baseball team – proposes a single-phase casino resort and entertainment district in Queens, with a total capital investment of US$5.3 billion and a projected opening in June 2030.
There had previously been a number of other proposals, including for Manhattan and Brooklyn, which were rejected by local community boards.
Other bidders, such as Las Vegas Sands Corp, Wynn Resorts Ltd and MGM Resorts International pulled out of the race for a commercial casino licence, citing regulatory hurdles and lower-than-expected returns on their potential investments.
