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<\/p>\nResorts World New York City (RWNYC) doubled down on the speed of its massive $5.5 billion first-of-its-kind integrated resort, officially breaking ground on July 22 on Phase Two of the project less than three months after the property\u2019s grand opening.<\/p>\n
\u201cIn less than three months after opening our doors as the first casino in New York City\u2019s history, we are already moving towards a day when the city will have a first-of-its-kind integrated resort,\u201d said Tan Sri Lim Kok Thay, Executive Chairman of the Genting Group. \u201cNot only are we keeping every commitment we made in our proposal to the state, but we are running well ahead of schedule in starting to build outside of our existing building.\u201d<\/p>\n
Elements of Phase Two that will get started after today\u2019s groundbreaking include:<\/p>\n
The development of an additional 400-room hotel tower to add on to the current Hyatt Regency.
\nThe Kenny \u201cThe Jet\u201d Sports and Media Complex which will open three years earlier than initially pledged and shift to the middle of the Resorts World campus to be more accessible to the entirety of the project.
\nA 7,000 seat multi-purpose arena.
\n1,200 additional hotel rooms under the luxury Crockfords brand.
\nThe central plaza.
\nA state-of-the-art parking garage.<\/p>\n
The full expansion is projected to create 10,000 jobs, including an estimated 5,000 union construction jobs, and will add 2 million square feet of new gaming, entertainment, dining, retail, and convention space to the existing one-million-square-foot property.<\/p>\n
\u201cThe excitement around this project hasn\u2019t stopped since the day we submitted our bid,\u201d said Robert DeSalvio, President, Genting Americas East. \u201cIt carried us through our licensing process and through the first 12 weeks of operating New York City\u2019s first live table games. Today, that same excitement is present as we break ground on Phase Two, which will bring new infrastructure, new parking, and the next wave of hotel rooms that will support two million square feet of new gaming, entertainment, and hospitality space in the years ahead.\u201d<\/p>\n
With just two floors of gaming operation opened since opening on April 28, Resorts World has increased tax and racing support payment by over 30 percent compared with the same period last year, paying $170 million in casino taxes and racing support in the first 12 weeks of operation. With these numbers, Resorts World New York City is already the largest casino in the United States in terms of Gross Gaming Revenue. Further, with the addition of 1,400 slot machines on July 21 and more gaming tables by the end of the year, RWNYC is expected to significantly grow casino tax and racing support payments to a billion dollars a year, including $425 million for education, $425 million for the MTA, and $150 million in support for the state\u2019s horse-racing industry.<\/p>\n
To put this into perspective: the states of New York, Nevada, and Pennsylvania each currently generate approximately $1 billion annually in commercial casino tax revenue from all of their casinos. Resorts World New York City, as a single property, is projected to generate approximately $1 billion in annual casino tax revenue\u2026On its own. Resorts World New York City has operated in Southeast Queens for 15 years and is New York State\u2019s largest taxpayer. The property employs approximately 2,500 people, more than half of them Queens County residents, and has invested more than $1.1 billion in Southeast Queens, generated more than $5 billion for the State\u2019s public education system, and welcomes an average of 5 million guests annually.<\/p>\n
Here\u2019s what elected officials are saying about today\u2019s groundbreaking:<\/p>\n
\u201cToday\u2019s historic groundbreaking is about delivering for Queens families who have long deserved good-paying union job opportunities, safe spaces for their children to grow and world-class entertainment all right in their own borough. That\u2019s exactly what we\u2019re delivering for our neighbors with Phase 2 of Resorts World\u2019s expansion,\u201d said Queens Borough President Donovan Richards Jr. \u201cIn real time, we are leveling the playing field when it comes to prosperity and culture. It has been an honor to partner with Resorts World on bringing this community-centered expansion to life and I look forward to the ribbon cutting in the not-too-distant future.\u201d<\/p>\n
\u201cOne of the things that excites me most about today\u2019s groundbreaking is the continued investment in our young people,\u201d said Assemblywoman Stacey Pheffer Amato. \u201cThe Kenny \u2018The Jet\u2019 Smith Sports & Media Academy will provide pathways into industries that many students never imagined were within reach, while the surrounding development continues creating jobs and economic opportunity for local families. This project isn\u2019t simply expanding a destination\u2014it\u2019s expanding opportunity for the next generation,\u201d<\/p>\n
\u201cFor far too long, Southeast Queens has watched major investments happen elsewhere. Resorts World has helped change that reality by making this community a destination for jobs, tourism, and economic growth,\u201d said New York State Senator James Sanders Jr. \u201cEvery new hotel room, entertainment venue, and community amenity strengthens our local economy and creates opportunities for residents and small businesses alike. Today\u2019s groundbreaking is another significant investment in the future of Southeast Queens.\u201d<\/p>\n
\u201cThe success of a project like this is measured by whether promises become reality. Resorts World has built a reputation over the past 15 years as a dependable partner that invests in Queens, supports local organizations, creates union jobs, and follows through on its commitments. Today\u2019s groundbreaking represents another important step in a long-term vision that will benefit our community, our workforce, and New York City\u2019s economy for decades to come,\u201d said New York State Senator Joseph P. Addabbo Jr.<\/p>\n
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Resorts World New York City (RWNYC) doubled down on the speed of its massive $5.5 billion first-of-its-kind integrated resort, officially breaking ground on July 22 on Phase Two of the project less than three months after the property\u2019s grand opening.\u00a0 <\/p>\n
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The Kenny \u201cThe Jet\u201d Sports and Media Complex will open three years earlier than initially pledged and shift to the middle of the Resorts World campus to be more accessible to the entirety of the project.<\/p>\n","protected":false},"excerpt":{"rendered":"Resorts World New York City (RWNYC) doubled down on the speed of its massive $5.5 billion first-of-its-kind integrated…\n","protected":false},"author":2,"featured_media":310056,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[9,24,63,122,124,123],"class_list":["post-310055","post","type-post","status-publish","format-standard","has-post-thumbnail","category-queens","tag-new-york","tag-new-york-city","tag-nyc","tag-queens","tag-queens-headlines","tag-queens-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/310055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=310055"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/310055\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/310056"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=310055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=310055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=310055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}