It isn’t often that we get to attend groundbreakings. Our role is to analyze potential projects, to weed out those that won’t pencil out, and to refine projects so they maximize our clients’ return on investment. That said, it is still hard to get a good project across the finish line. Yesterday, I had the privilege of attending the groundbreaking for Resorts World New York City’s transformational $5.5 billion development.
Resorts World New York City already generates more gaming revenue than any single commercial casino in the United States. It reached this distinction as a VLT facility, even before its transformation into a true casino with reel slots and table games. The new gaming space will be even larger, and will include nearly 6,000 slots and 800 tables. The property will boast 2,000 hotel rooms, a 7,000-seat entertainment venue, restaurants, and a sports/media complex. In the highly competitive New York market, RWNYC will retain its first-mover advantage for years – Hard Rock Metropolitan Park and Bally’s New York City aren’t due to open until at least 2030.
The next few years will be busy in the New York gaming market. Multi-billion dollar developments will be sustaining many thousands of construction jobs, and operations will employ thousands of New York residents.
It was an exciting day yesterday, and I hope there are many more to come.
For more on the project: New York Post ; Construction Review
- Suzanne P. Leckert, Co-Founder and Managing Partner
