News Summary
Resorts World New York City has received final approval for a $5.5 billion expansion at Aqueduct Racetrack, expected to significantly enhance the local economy. The 5.6 million square feet integrated resort will create 5,000 construction jobs and 5,000 permanent positions, with an extensive gaming area, entertainment facilities, and hospitality amenities. Additionally, the project aligns with community development goals, supporting local employment and public education funding.
New York – Resorts World New York City has secured final approval for a transformative $5.5 billion expansion project planned for the Aqueduct Racetrack site. The New York State Franchise Oversight Board voted 5-0 to accept the final environmental impact statement and finding statement, paving the way for what is being billed as one of the most significant investments in the region’s economy.
The proposed expansion is set to encompass 5.6 million square feet, situated just minutes from JFK International Airport. This integrated resort will dramatically reshape Resorts World’s current offering, which has served as New York City’s sole casino since its opening in 2011.
For the development to move forward, it requires a commercial gaming license, with decisions concerning the license anticipated by December 2023. If granted, construction is projected to commence as early as July 2026.
The expansion promises to create approximately 5,000 construction jobs, all of which will be union positions, and an additional 5,000 permanent jobs once completed. Furthermore, the project will also generate roughly 14,000 induced jobs, benefiting a variety of sectors and boosting the local employment rate.
The expanded resort’s amenities will include 6,000 slot machines, electronic table games, and 800 live table games within a dedicated 500,000-square-foot gaming floor. Additionally, the integrated resort will feature a 7,000-seat multi-purpose arena, over 7,000 parking spaces, and more than 30 food and beverage outlets. Planning has also incorporated hundreds of thousands of square feet designated for large-scale meeting spaces, a luxury spa, and a hotel with 2,000 rooms.
Resorts World has long been identified as the largest taxpayer in New York State, contributing over $4.5 billion in revenue, which aids in supporting public education initiatives. The development is seen as a way to enhance community welfare, providing local job opportunities for residents.
Currently, more than 1,000 employees at Resorts World earn an average salary of $80,000. Notably, over 80% of the workforce consists of people of color, and nearly half are women. Many employees live within five miles of the casino, ensuring that the salaries and economic benefits circulate within the local community.
The company has made substantial investments in the Queens community over the past 15 years, aiming to establish and nurture lasting relationships with local residents. Resorts World holds the title of being the single largest employer of the Hotel and Gaming Trades Council, AFL-CIO.
In outlining the expansion, Resorts World’s Chief Legal and Strategy Officer emphasized that the plan is considered “almost risk-free,” as all necessary land-use approvals have already been secured, further solidifying the initiative’s viability.
This expansion not only represents a significant financial investment but also seeks to foster local economic growth, enhancing the overall landscape of Queens and contributing to its ongoing development.
Deeper Dive: News & Info About This Topic
- QNS: Resorts World Land Use Approval and Gaming License
- Wikipedia: Casino
- LoHud: Empire City Casino Update
- Google Search: Resorts World New York City
- Queens Eagle: Resorts World Casino Pitch
- Encyclopedia Britannica: Gaming
- Hartford Business: Mohegan’s Manhattan Development
- Google News: Resorts World Expansion
- AMNY: Resorts World Queens Jobs
- Google Scholar: Casino Development New York
- Travel Pulse: Resorts World Transformation Plan
Author: STAFF HERE NEW YORK WRITER
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