The Resorts World New York City proposal features a 5.6 million-square-foot integrated resort that will allow for 6,000 slot machines, 800 gaming tables, 2,000 hotel rooms, a 7,000-seat arena, over 7,000 parking spaces and over 30 food and beverage outlets.
When a building sits empty, it not only blights the landscape but also erodes a community’s tax base.
The average 30-year fixed-rate mortgage in August was 6.59%, according to Freddie Mac, down from 6.72% in July and 6.50% one year ago.
The Resorts World New York City proposal features a 5.6 million-square-foot integrated resort that will allow for 6,000 slot machines, 800 gaming tables, 2,000 hotel rooms, a 7,000-seat arena, over 7,000 parking spaces and over 30 food and beverage outlets.
NEW YORK—This afternoon, the Community Advisory Committee unanimously approved by a 6-0 vote the $5.5-billion Resorts World New York City casino project in Queens, making it the second casino proposal to advance in the state process that will award up to three full casino gaming licenses by year’s end.
The Resorts World New York City proposal will now go to the Gaming Facility Location Board for review. Earlier today, the CAC for the MGM Empire City casino project in Yonkers approved the plan for the $2.3-billion project. Both the Resorts World New York City and MGM Empire City are existing Video Lottery Terminal gaming locations. Previously, CACs had rejected three casino proposals in Manhattan.
The Resorts World New York City proposal features a 5.6 million-square-foot integrated resort that will allow for 6,000 slot machines, 800 gaming tables, 2,000 hotel rooms, a 7,000-seat arena, more than 7,000 parking spaces, more than 30 food and beverage outlets, and over a dozen acres of community greenspace.
“On behalf of the entire Resorts World team, I want to thank the Community Advisory Committee for recognizing the impact we will have not only on Queens but all of New York City and State,” said Robert DeSalvio, President, Genting Americas East. “We are incredibly grateful to the large number of residents, partners, and supporters who touted this project, without a single person speaking against it. This is a testament to our mission—solidified over the last 15 years—to be the best neighbor possible here in Queens.”
During its July 21st presentation to the CAC, and at subsequent public hearings, Resorts World officials highlighted the community and economic benefits of its proposed expansion that include:
There are three other contestants for the casino licenses. Bally's Bronx and The Coney have final CAC votes scheduled on Monday. The CAC for Steve Cohen's The Metropolitan Park project has scheduled its final vote on Tuesday.
Earlier this month, the CACs for the Manhattan-based Freedom Plaza, the Avenir and Caesars Palace Times Square rejected those projects, each by a 4-2 vote.
The average 30-year fixed-rate mortgage in August was 6.59%, according to Freddie Mac, down from 6.72% in July and 6.50% one year ago.
With the 5-0 CAC affirmative vote, the Yonkers project now advances for full consideration with the New York State Gaming Location Board.
The agreement underscores the continued strength of Lower Manhattan’s office market, of which Brookfield Place comprises approximately 10% of inventory.
HGAR officials noted that its selection “is a testament to the impact of our advocacy, leadership and presence across the region.”
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