Genting’s Resorts World New York City (RWNYC) says it now expects to contribute US$2.5 billion in funds to New York’s Metropolitan Transportation Authority (MTA) during its first four years of operation under a full commercial casino license, covering by itself the total US$1.8 billion previously budgeted by the MTA from all three casino licenses it may issue.
The company said in a Friday statement that the improved payment forecast was in part due to the recent withdrawal of MGM Resorts from the running for a full license, leaving RWNYC as the only operating full commercial casino in downstate New York until at least 2030 should its bid prove successful.
Parent company Genting Malaysia has stated that it can open a permanent casino featuring 4,000 slot machines and 250 table games by Jun 2026 – just six months after award of a license – with an additional 150 tables to be added by January 2027 in existing space. Even if all goes according to schedule, the other two bidders cannot open until 2030 at the earliest.
The companied explained that, with an upfront license fee of US$600 million based on its proposal plus US$1.9 billion in tax payments to the MTA in the next four years, RWNYC will generate US$2.5 billion in taxes for the MTA. MTA’s own budget from casinos is for US$500 million in 2026, US$500 million in 2027, US$600 million in 2028 and US$200 million in 2029 for a total of US$1.8 billion.
“This is not just a casino expansion. It’s a transformative economic development project that will keep New York City moving in every way,” said Robert DeSalvio, President of Genting Americas East.
“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.”
RWNYC said it will also provide US$2 billion to education and US$500 million to NYRA (New York Racing Association) in support of the equine industry in New York.
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