Genting group’s proposal to develop a fully-fledged casino resort in downstate New York, in the United States, is the “largest of all the bids in terms of site size, build area, and casino-floor area,” according to a press release issued by the Malaysian-based group on Monday.
On Monday, Genting presented its plan (pictured in an artist’s rendering) to a six-person Community Advisory Committee, as part of the tender process for one of three licences potentially on offer.
As part of the bidding process, a Community Advisory Committee is created for each application to review the proposal, gauge local support, and ultimately determine whether there is adequate backing for the proposed project.
Three groups with experience in running casinos in Asia – Genting group, MGM Resorts International, and Mohegan Tribal Gaming Authority – are among eight bidders for one of three licences potentially on offer in downstate New York.
Genting group operates casinos in Malaysia, Singapore, Las Vegas, Nevada, and upstate New York. For its downstate New York bid, the firm is proposing to extend and upgrade its existing Resorts World New York City slot-machine and electronic gaming facility in Queens.
In its Monday press release, the firm stated that the US$5.5-billion project could open in July 2026, as “all land-use approvals have already been granted, and the company is ready to start construction the day it receives a licence.”
The revamped property “will create up to 24,000 jobs and hundreds of millions of [U.S.] dollars in tax revenue… while providing a raft of benefits for the community that Resorts World has called home since 2011,” Genting stated.
The group added that the redeveloped property would feature a 5.6-million-square-foot (520.257-sq.-metre) integrated resort, allowing for 6,000 slot machines, 800 gaming tables, 2,000 hotel rooms, a 7,000-seat arena, more than 7,000 parking spaces, over 30 food and beverage outlets, a spa, and more than 12 acres )4.9 hectares) of community greenspace.
“When it comes to completion and operational risk, Resorts World New York City stands uniquely as almost risk-free,” property chief legal and strategy officer Kevin Jones, noted in Monday’s presentation to the Community Advisory Committee.
“What the Community Advisory Committee heard today was a vision for a transformative project that will be a game-changer for this borough, the city, and the state,” said Genting group executive Robert DeSalvio, as quoted in the press release.
The New York Gaming Commission launched a request-for-applications process in January 2023 for three casino licences in downstate New York. It outlined a US$1-billion minimum requirement for the licence fee and capital investment, with US$500 million payable within 30 days as the licence fee.
The relevant casino permits would be granted for a period of between 10 and 30 years, depending on the size of the investment pledged.
