**Genting Takes New York by Storm with Major Casino Expansion**
In a bold move to expand its footprint in the Big Apple, Genting Group is pulling out all the stops. Under the leadership of billionaire Lim Kok Thay, the company has kicked off the second phase of its ambitious $5.5 billion integrated casino resort project in New York City. Lim has laid the groundwork for an exciting future, recently attending the project’s groundbreaking ceremony and expressing his optimism that this will be the first of its kind in the city.
Genting’s flagship establishment, Resorts World New York City, has only been open since April, yet it’s already making waves. In just 12 short weeks, this gaming powerhouse has paid a whopping $170 million in taxes, positioning itself as the largest casino in the United States when it comes to gross gaming revenues. The operation’s rapid success isn’t just impressive on paper; it indicates a bright future for the casino scene in New York City that policymakers and residents alike should keep a close eye on.
At the heart of this monumental expansion are plans to bolster Resorts World New York City with a shiny new 400-room hotel tower and the luxurious 1,200-room Crockfords hotel. Moreover, Genting is excited about creating a multi-purpose entertainment venue that can seat 7,000 guests, a fantastic addition that will undoubtedly attract visitors from all corners of the globe. This grand project aims to develop an additional 2 million square feet of gaming, dining, retail, and convention space, stacking onto the existing 1 million square feet already in action.
As the expansion progresses, the number of gaming options is set to soar. The casino will see its slot machines increase to a staggering 6,000—50% more than before—and the number of gaming tables will triple, reaching a count of up to 800. With such a robust offering, it’s estimated that, once all is said and done, the resort could generate an eye-popping $2.2 billion in annual revenue. And for those concerned about the economic impact, the casino’s expansion is expected to increase tax contributions substantially, potentially reaching about $1 billion annually.
Genting has a notable history in the region, having been a stalwart in Southeast Queens for the last 15 years. The company welcomes around 5 million visitors each year and provides employment for about 2,500 people. Lim Kok Thay, with a net worth of $1.6 billion according to Forbes, has been at the helm of Genting’s innovations and growth, steering the company into diverse sectors like energy and biotech. While it remains unclear when this vast expansion will reach completion, one thing is for sure—Genting’s ambitious plans are set to reshape New York’s gaming landscape for years to come.
