New York’s race for new commercial casino licenses has taken a turn after MGM Yonkers, a subsidiary of MGM Resorts, withdrew its application.
The exit narrows the field to...
Resorts World NYC to contribute $2.5bn to MTA by 2029
Resorts World New York City has projected that it will contribute around $2.5 billion to the Metropolitan Transportation Authority over the next four years.
The amount would exceed the MTA’s anticipated $1.8bn from casino license fees and tax revenues between 2026 and 2029. This goal is within reach, as RWNYC could start operating as early as March 2026 if it’s chosen by the New York Gaming Facility Location Board by December 1 and receives its license from the Gaming Commission by the end of the year.
With a $600 million upfront license fee and $1.9 billion in tax payments over the next four years, Resorts World New York City is expected to generate a total of $2.5 billion for the MTA.
The MTA’s casino-related budget forecasts include $500 million in 2026, $500 million in 2027, $600 million in 2028, and $200 million in 2029, amounting to $1.8 billion in total.
Following MGM Yonkers’ withdrawal, RWNYC would stand as the only fully operational commercial casino in Downstate New York, including New York City. The property is projected to deliver roughly $2 billion in tax revenue for education and $2.5 billion for the MTA over the next four years, while other new casino projects are unlikely to launch before mid-2030.
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