Resorts World New York City's Major Contribution for Public Transit

Resorts World New York City Plans Significant Financial Commitment

Resorts World New York City (RWNYC) has made exciting projections regarding its financial contributions to supporting public transportation. The organization forecasts a remarkable $2.5 billion payment to the Metropolitan Transportation Authority (MTA) over the next four years. This substantial amount exceeds the $1.8 billion budgeted by the MTA from anticipated casino license fees and tax payments from 2026 to 2029.

Projected Operations and Financial Structure

The forecasted financial commitment is rooted in the expectation that RWNYC could commence operations as soon as early 2026, contingent upon receiving the necessary approvals from the New York Gaming Facility Location Board by the end of 2025. This timing aligns with objectives set forth by the Board itself, which aims to facilitate rapid growth.

RWNYC's approach includes an upfront licensing fee of $600 million alongside an impressive $1.9 billion in expected tax contributions to the MTA during this period. The planned distribution from casinos to the MTA constitutes $500 million in 2026 and 2027, $600 million in 2028, and $200 million in 2029, culminating in a total of $1.8 billion.

Positioning in the Downstate New York Market

Following MGM Yonkers' withdrawal from the competitive landscape, RWNYC stands poised as the sole operating full commercial casino in Downstate New York and New York City. This positioning not only enables RWNYC to project significant tax revenues—estimating $2 billion for educational initiatives and $2.5 billion for the MTA over the next four years—but also solidifies its role as a vital contributor to the economy. Other upcoming proposals for casinos are not expected to materialize before mid-2030, allowing RWNYC to significantly impact the region.

Community and Economic Impact

Robert DeSalvio, President of Genting Americas East, emphasized the transformative nature of this initiative. He stated, "This is not just a casino expansion. It's a transformative economic development project that will keep New York City moving in every way." His declaration underscores the commitment RWNYC has toward establishing ongoing revenue streams for the MTA starting in 2026, pledging vital support for commuters relying on consistent and accessible public transportation.

Beyond MTA contributions, RWNYC also plans to allocate $2 billion to educational programs and $0.5 billion to bolster the New York Racing Association (NYRA), which champions the equestrian industry throughout the state. Since its inception in 2011, RWNYC has directed nearly $5 billion towards public education in New York, underlining its ongoing dedication to fostering community growth.

Investing in Public Transit

Queens Borough President Donovan Richards Jr. articulated the necessity of this investment, stating, "Every Queens family deserves fast, high-quality public transportation, no matter their ZIP code or socioeconomic status." He expressed gratitude to the RWNYC team for their unwavering commitment to improving commuters' experiences.

Support from State Officials

Further emphasizing the impact of this commitment, State Senator James Sanders, Jr. remarked, "This investment from Resorts World isn't just about gaming — it's about growth. We have a safe bet with this project that will provide immediate assistance to the MTA." Such sentiments highlight the anticipated positive outcomes for both the transit authority and the surrounding communities.

Community Engagement and Commitment

Assemblywoman Stacey Pheffer Amato reiterated similar sentiments: "This is exactly the kind of investment New York and our local communities need." Her acknowledgment reflects the belief that RWNYC's expansion will play a pivotal role in ensuring the future of public transit in an ever-evolving urban landscape.

About Resorts World New York City

Resorts World New York City (RWNYC) stands out as the only Video Lottery Terminal casino-hotel in the five boroughs of New York. Having contributed over $4.5 billion to the state’s public education since 2011, the casino continues to support the New York Racing Association with more than $2 billion, ensuring that essential jobs remain secured in the equine industry. RWNYC is redefining the historic Aqueduct Racetrack into a modern gaming venue, aimed to be the largest outside Las Vegas, equipped with approximately 5,500 gaming machines.

Welcoming around five million patrons annually, RWNYC provides a diversified range of gaming, entertainment, and dining experiences. The facility recently marked the opening of a 400-room Hyatt Regency at JFK Airport, contributing an estimated $1.1 billion in total investments at the site. Guests have access to an array of culinary delights at noted venues like RW Prime and the Good Friends Noodle House.

Operated by Genting Group, a prestigious global company with a history spanning over six decades, RWNYC exemplifies dedicated corporate responsibility, serving upwards of 50 million guests worldwide each year.

Frequently Asked Questions

What is the projected contribution of RWNYC to the MTA?

RWNYC is expected to contribute $2.5 billion to the MTA over the next four years, surpassing the budgeted amount of $1.8 billion.

When could RWNYC begin its operations?

If all approvals are received by the end of 2025, RWNYC could start operations as early as March 2026.

What other contributions is RWNYC making?

Besides the MTA, RWNYC plans to allocate $2 billion for education and $0.5 billion to support the NYRA.

How has RWNYC impacted public education?

Since its opening in 2011, RWNYC has contributed over $4.5 billion to New York's public education system.

Who operates Resorts World New York City?

Resorts World New York City is operated by Genting Group, a global leader in the travel and leisure sector.

About The Author

Hello, I'm Thomas Cooper, a financial expert and writer passionate about helping people understand and navigate the financial world. Having a solid financial background and a lot of experience, my area of expertise is simplifying difficult financial ideas into useful, understandable guidance. My goal with my writings and blog entries is to provide you the information and resources you need to make wise financial choices.

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