Resorts World NYC Readies for Commercial Gaming Licenses
Genting Malaysia, the owner of Resorts World New York City, is preparing to be granted three commercial casino licences.
Genting Malaysia, which is currently undertaking an expansion of Resorts World New York City in Queens, is readying itself for the issuing of three commercial casino licenses focusing on downstate New York. The company hopes that its Queens property will get one of the three licenses, thus transforming the venue into a fully-fledged casino with table games.
Previously, Genting Malaysia undertook changes and expansion to its Queens property and has recently hired additional staff members. It also increased the venue’s operating capacity and opened a Hyatt Regency Hotel at the resort in August 2021, located near the JFK Airport.
During Genting Malaysia’s last corporate day, the company’s senior vice president for finance and corporate Affairs, James Koh, and assistant manager for corporate affairs, Audrey Ng, provided details on the casino’s expansion. They elaborated that the RFI process carried out by the New York State Gaming Commission is finalised, and it’s ready to submit a report to the governor of New York State and state legislature by June 2022.
Genting Malaysia predicts that the commission will commence its Request for Application during 2022, through which it will select the three winners of downstate casino licenses. This process will be finalised 150 days before the lifting of the moratorium on the issuance of permits, which is expected in early 2023.
Recently, the company was selected to provide mobile sports betting services in the state through its 49 per cent-owned subsidiary, Empire Resorts, which is part of the Kambi Group consortium. Through this project, the corporation hopes to increase its brand exposure across the country.
Genting Malaysia is also working on a development called Resorts World Hudson Valley, based in Orange County, and is set to feature over 1,300 video game terminals. This property is scheduled to open during the second half of 2022. The group explained that the capital expenditure for the Resorts World Hudson Valley will not be excessive and will come to between US$30 and US$40 million.