Resorts World New York City forecasts $2.5bn in MTA contributions over four years
The figure would exceed the $1.8bn Metropolitan Transportation Authority budgeted from casino licence fees and tax payments.
US.- Resorts World New York City (RWNYC) has released new projections which forecast contributions of $2.5bn to the Metropolitan Transportation Authority (MTA) over the coming four years if it is awarded a full New York casino licence in December. The estimated payment would exceed the $1.8bn MTA budgeted for licence fees and tax payments from thee casinos from 2026 to 2029.
The firm has proposed an upfront licence fee of $600m and estimates $1.9bn in tax payments. It said it would exceed the budgeted MTA contributions because it would be ready to start operating in March 2026 if it is selected by the New York Gaming Facility Location Board on December 1.
The company said: “With the withdrawal of MGM Yonkers, RWNYC would remain the only operating full commercial casino in Downstate New York, including New York City, generating an estimated $2bn in tax revenue for Education and $2.5bn for the MTA over the next four years, while the other greenfield proposals are not expected to open before mid-2030.”
Robert DeSalvio, president of Genting Americas East, said: “This is not just a casino expansion. It’s a transformative economic development project that will keep New York City moving in every way. Resorts World New York City is the only bidder who can deliver a steady flow of new revenue for the MTA starting in 2026. This is a promise to the MTA and the people who rely on it that we are here to provide support.”
Queens Borough president Donovan Richards Jr., added: “Every Queens family deserves fast, high-quality public transportation, no matter their ZIP code or socioeconomic status. But ensuring that the necessary funding to build that kind of network is in place has been a challenge for as long as mass transit has existed in New York City. The planned expansion of Resorts World New York City will inject critical capital into the MTA at a time when conversations around the future of public transportation swirl the loudest, and I’m deeply grateful to the Resorts World team for their commitment to Queens’ commuters.”
Of eight original applications, three remain in contention for up to three possible New York casino licences: Resorts World in Queens, Bally’s in the Bronx and Hard Rock International.
