Resorts World New York City (RWNYC), the leading hotel and casino operated by the global company, the Genting Group, released new projections, forecasting significant benefits to the Metropolitan Transportation Authority (MTA).
The forecast comes in the context of the former's participation in the race for one out of three NY casino licenses.
RWNYC estimates $2.5bn in benefits to MTA between 2026 and 2029
The MTA projected receiving $500m from casinos in 2026, $500m in 2027, $600m in 2028 and $200m in 2019. The total sum budgeted from casinos by the Authority is $1.8bn.
However, RWNYC estimated significantly higher proceeds for the MTA in the next four years, the company said in a press release.
According to Resorts World, the MTA will benefit from $2.5bn over the next four years.
This total breaks down to $900m in an upfront licensed fee, payable by RWNYC, as well as $1.9bn in tax payments to the MTA over the next four years.
The aforementioned goal is achievable, contingent on Resorts World being greenlighted by the New York Gaming Facility Location Board by December 1, 2025, for a license, receiving a license by the state Gaming Commission by December 31, 2025 and initiating operations from as early as March 2026.
The company acknowledged that the recent withdrawal of MGM Yonkers leaves it as the single full commercial casino operator in Downstate New York, which also includes New York City.
Besides the $2.5bn to the MTA, RWNYC is expected to provide $2bn to education, as well as $500m to NYRA, supporting the equine industry in the Empire State.
These proceeds complement the $5bn Resorts World has already sent to the public education system in the state since 2011.
At the same time, the company helped support tens of thousands of jobs and dedicated billions to the equine industry.
Resorts World's proposal isn't only about gaming but also about growth
State Senator James Sanders, Jr. spoke with excitement about Resorts World's casino bid, Casino Guru News learned from a press release.
"This investment from Resorts World isn't just about gaming — it's about growth," the senator explained.
Moreover, Sanders pointed out: "We have a safe bet with one project that will provide support to the MTA right away. Resorts World's contributions to the MTA will allow us to focus on the people's work and expand accessibility."
Robert DeSalvio, the President of Genting America East, operating Resorts World, also commented.
"This is not just a casino expansion. It's a transformative economic development project that will keep New York City moving in every way," he said.
According to DeSalvio, RWNYC is the only bidder that can ensure a steady flow of fresh revenue for the MTA, starting from next year.
"This is a promise to the MTA and the people who rely on it that we are here to provide support," he explained in conclusion.
