Resorts World NYC Begins Second Phase of Expansion with 1,400 Slot Machines

A year after obtaining a commercial casino license in New York, Resorts World NYC continues to actively expand. The company announced the addition of 1,400 new slot machines, bringing the total to approximately 3,900. These machines are located on the first floor of the complex and have been one of the key factors contributing to obtaining the license. The casino transformed from a Video Lottery Terminal (VLT) facility into a commercial casino in April. Two other regional competitors — Bally’s Bronx and Metropolitan Park — will only open by 2030.

This week, it was also announced that the second phase of expansion, costing $5.5 billion, will include:

• A new 400-room Hyatt hotel and a 1,200-room Crockfords Hotel
• An entertainment complex with 7,000 seats
• A sports and media complex dedicated to Kenny "Jet" Smith
• A new parking garage and central plaza

The final project envisions 6,000 slot machines, 800 tables, and 2,000 rooms. However, the initial license stipulated 4,600 slot machines and 530 tables, with full implementation expected by 2031.

Addressing Tax Issues

With the obtained license, Resorts World became the first operator to offer table games and Class III slots in the New York region. These monopolies will last at least four years, despite having the highest tax rates among the three casinos: 56% on slots and 30% on tables. The dispute over taxation was resolved in favor of Resorts World on June 5, when a law was passed allowing the commission to distribute tax proceeds directly to the New York State Racing and Wagering Board.

Impressive Early Results

With the tax issue resolved, the casino can focus on its financial success. Over the last 11 weeks, the establishment has generated $317 million, leading to expectations of over $1.5 billion for the year. The average win per slot machine was $1,214 — compared to $849 for a similar indicator at Wynn Las Vegas. Genting's President of Operations in New York, Robert DeSalvio, noted that such results are unprecedented for the industry.

Current table tax rates of 30% have sparked some controversies. Resorts World hopes for a reduction after the opening of other casinos, although the New York State Gaming Commission does not consider these rates to be temporary or dependent on the opening of other facilities.