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Genting Malaysia’s Resorts World New York City (RWNYC) submitted a revised bid to the New York State Gaming Facility Location Board in its application for a complete commercial casino license. The new proposal comes with a significant hike in the license fee and gaming tax levels, marking the company’s intention to bring a scale-integrated resort and more community dividends.
Increased Investment and Improved Financial Offerings
The resort hopes to invest a total of US$7.5 billion in an enlarged casino center, with US$5.5 billion going into the development of the resort and another US$2 billion set aside for community good. This is a sizable boost in investment compared to what was proposed in the past.
Alongside this investment, Genting Malaysia has increased its license fee offer to US$600 million. The proposal also features a tax rate of 56% on slot machine revenue and 30% on table games, the highest among the remaining bidders for up to three licenses designated for the downstate New York area.
The company’s economic analysis anticipates that this expanded facility could generate up to US$4 billion in tax revenue for the state by 2031 under a high-case scenario, marking a strong financial impact irrespective of the licensing outcomes.
Scale and Job Creation
The vision of Genting Malaysia is a 500,000 square-foot resort with 10,800 gaming stations, a 7,000-seat entertainment complex, 30 new restaurants, day clubs, spas, and more than 12 acres of green spaces. The company estimates that its construction and operation would generate more than 100,000 jobs in the majority of places, including permanent employees, construction, indirect jobs, and induced jobs.
The bid also emphasizes that Resorts World New York City has the capacity to remake Queens into a global destination, drawing in further amenities and economic return on a scale not replicated elsewhere.
Speed to Market and Community Impact
One of Genting’s key advantages over remaining contenders, Hard Rock and Bally’s, lies in its existing electronic gaming machine-only facility in Queens. This allows the company to project a phased opening in mid-2026, significantly earlier than other applicants who are targeting openings approximately four years later.
Genting Malaysia intends to begin hiring immediately upon receiving a full commercial license, aiming to bring on 1,000 new employees in preparation for the initial phase’s launch in June 2026.
The company underscores its promise to contribute extensively to New York’s education fund, Mass Transit Authority, and local community programs through these expanded operations.
Stakeholder Support and Industry Position
Queens Borough President Donovan Richards testified in support of Genting’s bid, citing the capacity of the bid to deliver economic gains on a large scale and a better quality of life for Queens families. His remarks highlight the dramatic nature of Genting’s resort to the future of the borough.
The revised bid came as MGM Resorts withdrew its application for the contest, with Genting emerging as one of three finalists vying for the licenses in the New York City metropolitan area.
A Strategic Commitment to New York’s Casino Market
By raising both its license fee and tax rates, Genting Malaysia has positioned itself as a serious contender competing to secure one of the highly sought-after casino licenses. The company’s approach signals a firm commitment to rapid development, substantial economic contribution, and sustained community engagement through its Resorts World New York City property.
Approval of the casino licenses will depend on the New York State Gaming Facility Location Board’s evaluation and the final decision expected by December 1, 2025.
Source: Inside Asian Gaming (IAG)
