• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 18 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

New York fast-tracks RFP process for full downtown casino licenses as Genting Malaysia, MGM named early favorites

Ben Blaschke by Ben Blaschke
Thu 5 Jan 2023 at 05:43
Report shows Genting Malaysia subsidiary ranked sixth for money spent on New York lobbyists in 2020

New York City

66
SHARES
1.7k
VIEWS
Print Friendly, PDF & Email

Genting Malaysia and MGM Resorts are seen as early front-runners to win two of three full casino licenses set to be awarded in downstate New York after the state legislature this week paved the way for the RFP process to get underway – a year earlier than previously expected.

Under details confirmed over the weekend, operators must commit a minimum license fee of US$500 million – although higher bids will be accepted – with tax on slot machines and table games to be set at a minimum of 25% and 10% respectively.

The criteria to be applied to bidding parties is likely to focus on factors such as job creation, tax revenue to be generated and other output factors.

The New York opportunity is expected to attract interest from many of the world’s largest casino operators with CBRE Equity Research estimating in a Wednesday note that the combined GGR of three New York casinos could reach as much as US$4.8 billion annually, depending on their final locations.

However, CBRE’s Senior Analyst John DeCree also named Genting Malaysia and MGM Resorts – the two companies already operating slots-only casinos in downtown New York – as clear favorites to win two of the three full licenses on offer.

Genting Malaysia operates Resorts World New York City in Queens while MGM runs Empire City in Yonkers.

“The NYS Gaming Facility Location Board is now expected to run a competitive process similar to the upstate casino selection on process from several years ago,” DeCree wrote.

“In addition, the process will include input from a six-member advisory board of local officials to assess public support for proposed locations. Demonstrating evidence of local support and zoning approval is required for all applicants. This could be the most challenging part of the process, which is one of the reasons we believe Empire City and Resorts World NYC are front-runners for two of the three licenses.

DeCree added, “Ultimately, we believe the legislation and requirements give both Empire City and RWNYC a leg-up. First, the required local support will likely be easier to obtain given both properties’ existing footprints in the region.

“Second, at least a portion of existing and previous capital investment could be considered in the total proposal.

“Third, both properties could be ready to launch table games nearly instantly, providing immediate jobs.

“Lastly, the consideration of revenue impact to existing VLTs (video lottery terminals) and the requirement for any casino license in those regions to maintain minimum [charitable] contributions presents a hurdle for any new development near Empire City or RWNYC.

“That said we still see one very compelling license opportunity up for grabs with a number of interested parties and potential sites throughout the New York City area.”

RelatedPosts

CDC Gaming announces reimagined Day Zero Party including “10 Women Rising in Gaming” presentation at Resorts World Las Vegas’ Allē Lounge on 66, on 5 October 2025, the Sunday prior to G2E

CDC Gaming announces reimagined Day Zero Party including “10 Women Rising in Gaming” presentation at Resorts World Las Vegas’ Allē Lounge on 66, on 5 October 2025, the Sunday prior to G2E

Thu 18 Sep 2025 at 02:08
Genting sued by partner in Bahamas casino Resorts World Bimini for alleged “massive and co-ordinated fraud”

Genting Malaysia looks to dismiss amended complaint filed by partner in Bahamas casino-resort, says no new material elements introduced

Wed 17 Sep 2025 at 19:02
Genting’s KT Lim moving to take New York’s Resorts World Catskills private

Genting Malaysia plan to sell off non-gaming assets of Resorts World Catskills delayed for a second time

Wed 17 Sep 2025 at 17:06
Guiding light

Light & Wonder prices US$1 billion in senior notes to pay down existing debt

Thu 11 Sep 2025 at 07:00
Load More
Tags: casinosGenting MalaysiaJohn DeCreeMGM ResortsNew YorkNorth AmericaResorts World Casino New York CityRFP
Share26Share5
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lankan cabinet approves budget proposal to increase betting levy, double casino entry for locals

by Newsdesk
Thu 18 Sep 2025 at 02:27

The Sri Lankan cabinet has approved a proposal in the country’s 2025 budget that will see the betting levy increased and casino entry fee for locals doubled. According to a report by local business media outlet Economy Next, Cabinet Spokesman...

CDC Gaming announces reimagined Day Zero Party including “10 Women Rising in Gaming” presentation at Resorts World Las Vegas’ Allē Lounge on 66, on 5 October 2025, the Sunday prior to G2E

CDC Gaming announces reimagined Day Zero Party including “10 Women Rising in Gaming” presentation at Resorts World Las Vegas’ Allē Lounge on 66, on 5 October 2025, the Sunday prior to G2E

by Newsdesk
Thu 18 Sep 2025 at 02:08

CDC Gaming, the premier source of news, commentary and analysis for the gaming industry in the Americas and sister company to Inside Asian Gaming, has announced a revamped, reimagined and refreshed Day Zero Party ahead of this year’s Global Gaming...

Wynn says UAE development contribution to total around US$900 million as Thailand opportunity looms large

Cryptocurrency payments, smart table rollout across all games among technology innovations being planned at Wynn Al Marjan Island

by Ben Blaschke
Thu 18 Sep 2025 at 02:01

Wynn Al Marjan Island is looking to open with smart gaming tables installed across all or most of its gaming areas and payment options that include cryptocurrencies, the company has revealed. David Patent, Executive Vice President, Gaming Operations at Wynn’s...

Interview with Newport World Resorts’ Nilo Thaddeus Rodriguez

Interview with Newport World Resorts’ Nilo Thaddeus Rodriguez

by Newsdesk
Wed 17 Sep 2025 at 19:04

IAG sat down with Nilo Thaddeus Rodriguez – the President and CEO of Newport World Resorts – to discuss the property’s recent market share gains and what new features and attractions we can expect to see in the coming months.

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English