Resorts World granted key land use approval from state for $5.5B growth if granted industrial gaming license – QNS

Resorts World New York City acquired its final main land use approval from the state for its proposed $5.5 billion growth into an built-in resort at Aqueduct.

Courtesy of RWNYC

As it endeavors to change into the biggest industrial on line casino within the nation, Resorts World New York City has acquired its final main land use approval for its $5.5 billion imaginative and prescient to create an built-in resort at Aqueduct Racetrack in South Ozone Park, making certain work can instantly start if granted one of many three downstate industrial gaming licenses on the finish of the 12 months.

Late final month, the New York State Franchise Oversight Board voted 5-0 to simply accept the ultimate environmental impression assertion and discovering assertion for Resorts World’s subsequent part, which is able to finally create a 5.6-million-square-foot vacation spot simply minutes from JFK International Airport. The unanimous vote marked the ultimate crucial approval to remodel the 73-acre Aqueduct website, the place Resorts World has operated as the town’s solely on line casino since 2011.

“This seal of approval from the Franchise Oversight Board means that we can literally get to work a day after receiving the commercial gaming license,” stated Robert DeSalvio, President of Genting America East. “We have made speed to market a priority to create the highest and best values for New Yorkers, whether it’s through jobs or revenue, and we’re living up to that promise. We are grateful to the State for this action, and we hope we can hit the ground running this December.”

If granted a industrial gaming license by this December, Resorts World may have the flexibility to increase its operations as early as July 2026. The everlasting workforce will likely be greater than triple in that point, as guests may have entry to 4,000 slot machines and digital desk video games, in addition to 250 dwell desk video games. Once accomplished, Resorts World will change into the biggest industrial on line casino within the United States with 6,000 slots and ETGs and 800 desk video games throughout a 500,000-square-foot gaming ground.

The built-in resort will embrace a 7,000-seat multi-purpose area, greater than 7,000 parking areas, greater than 30 meals and beverage shops, lots of of 1000’s of sq. toes of large-scale assembly house, a dozen acres of group park house, a spa, and a couple of,000 lodge rooms. The undertaking will create 5 thousand union building jobs, alongside 5,000 everlasting positions, with an anticipated 14,000 induced jobs coming on-line because of this.

Approval below the State Environmental Quality Review Act (SEQRA) got here simply days after Resorts World executives offered the imaginative and prescient for Aqueduct to its six-person Community Advisory Committee.

“We’re proud to have grown with the Queens community for nearly 15 years,” DeSalvio stated. “What the Community Advisory Committee heard was a vision for a transformative project that will be a game changer for the borough, the city and the state.”

Resorts World is the only largest employer of the Hotel and Gaming Trades Council, AFL-CIO. Jobs at Resorts World characteristic full advantages and salaries averaging $80,000 for greater than 1,000 crew members, greater than 80% of whom are folks of colour, and practically half are ladies. A overwhelming majority of that workforce lives inside 5 miles of Resorts World, leading to salaries staying instantly in the neighborhood. Since opening its doorways in 2011, Resorts World has change into New York State’s largest taxpayer, producing greater than $4.5 billion in income, supporting the state’s public training fund. The firm has moreover despatched greater than $2 billion in tax income to the horse-racing business and $200 million in direction of operations of the New York State Lottery. Those numbers would enhance exponentially ought to Resorts World obtain the total industrial license.

“Since Resorts World was granted operations of the Aqueduct site in 2010, we have sought to be a neighbor that Queens deserves, providing 1,000 good union jobs, investing millions of dollars into our neighborhood, and building everlasting bonds with the community,” DeSalvio stated. “But we also made them a promise to do more in every sense of the term, and today’s proposal lays out just how we will.”

All land-use approvals have been granted, and the corporate is able to begin building the day it receives a industrial gaming license. With these details in thoughts, Resorts World Chief Legal and Strategy Officer Kevin Jones famous within the presentation to the Community Advisory Committee, “When it comes to completion and operational risk, Resorts World New York City stands uniquely as almost risk-free.”