New York City Just Approved 3 Massive Casino Developments in Queens and the Bronx
New York City has approved three major casino projects in Queens and the Bronx, promising significant revenue and economic impact.Summary
New York City has granted approval to three major casino developments – spearheaded by Steve Cohen, Bally’s Corp., and Genting Group – set to be located in Queens and the Bronx. Steve Cohen’s Metropolitan Park casino near Citi Field in Queens will include athletic fields, a transit station, and a public park, projected to generate $3.9 billion in revenue by 2030. Bally’s Corp. is investing $4 billion in a Bronx casino with a hotel, events center, and golf course, expected to bring in $1 billion in revenue. Genting Group will expand its Resorts World casino in Queens with a 1,600-room hotel, arena, and restaurants, costing $7.5 billion. These projects, along with previous attempts by Jay-Z, are anticipated to generate $5.5 billion in revenue by 2033 and $7 billion in tax dollars between 2027 and 2036, overseen by independent organizations to ensure regulatory compliance.
(Source：Robb Report)