overnor David A. Paterson and Genting Chairman K.T. Lim were joined by elected officials as well as representatives of New York’s gaming and racing operations and South Queens residents at Aqueduct Race Track to officially break ground on the Resorts World New York casino - a project that will put 2,100 New Yorkers to work, generate more than us$ 300 million in annual revenue for the state and give New York City its first ever casino.
“With today’s groundbreaking, New York continues its confident march out of recession and back to prosperity and job growth," said Governor Paterson. "The addition of the Resorts World New York Casino at the historic Aqueduct Race Track will create employment for thousands of New Yorkers, help revitalize the state’s racing industry, and serve as a powerful generator of state revenue-money that will go toward education.”
“This is one of the proudest days in the history of the Genting organization,” said Genting Chairman K.T. Lim. “Working alongside our elected officials, union representatives and our neighbors in the South Queens community, we will deliver a world class tourism and entertainment facility that all New Yorkers can be proud of.”
Just months after being awarded the contract, Genting has already started ramping up its hiring for the project’s more than 1,300 construction jobs and will soon announce job fairs for the 800 permanent jobs that will be created at Resorts World New York. Genting won the rights to develop Resorts World New York with a bid that included a us$ 380 million, one-time payment. The company predicts that the state will receive at least us$ 300 million annually in revenue generated from the casino.
“After nearly a decade of delay, I am thrilled that this project has broken from the starting gate today,” said Congressman Gregory Meeks. “With the jobs it will create and the recurring revenue it will produce, I know that Resorts World New York will play an integral role in helping revitalize the economies of the borough, the city and the State.”
“This long-awaited project couldn’t come soon enough for the people of Queens, as it will create exactly the right kind of jobs – good-paying, stable and local - that are in such high demand throughout this neighborhood,” said State Senator Joseph Addabbo.
"The economic benefits of this project – from the more than us$ 300 million a year in state revenue to the more than 2,100 jobs created - are tremendous,” said Assemblywoman Audrey Pheffer. "With so many new Yorkers needing work, Genting has answered our community’s need for jobs. I am confident that Resorts World New York at Aqueduct will be an overwhelming success.”
With destinations throughout Asia and the United Kingdom, Genting is an international leader in entertainment and tourism. The Resorts World New York casino is the company’s first venture in North America. “Genting has an international reputation for building first-class casinos,” said Assemblyman Gary Pretlow, Chair of the New York State Assembly Racing and Wagering Committee. “All of New York State will greatly benefit from the millions of dollars in recurring revenue that Resorts World New York will generate.”
Within six months, a significant portion of the 4,525 Video Lottery Terminals that will fill the casino will be operational. Six months from then all of the VLTs will be up and running and all interior work will be complete. In just 18 months, all interior and exterior renovations – including the building of an enclosed skybridge from the “A” train station to the Resorts World New York entrance – will also be finished.
“Genting’s Aqueduct restoration project will not only vastly improve one of Queens’ most iconic institutions, but will also have an unprecedented impact on the economic growth of our neighborhoods,” said Community Board 10 Chair Betty Braton. “The renovations planned will generate millions of dollars in revenue that we can use to fund community improvement initiatives.”
“The New York Lottery is very proud of the process we employed to recommend a developer for Aqueduct. Genting will bring a premiere gaming experience to New York, but more importantly, will generate much needed funding for education in all of New York. With this significant increase to our portfolio of games and gaming venues, the New York Lottery is on track to produce over us$ 3 billion in aid-to-education this fiscal year,” said New York Lottery Director Gordon Medenica.
Empire State Development Chairman & CEO Dennis M. Mullen stated, “Today’s groundbreaking is the beginning of significant economic development activity for the borough of Queens and the entire State of New York. Revitalizing this community will benefit our racing, tourism, and entertainment industries while generating revenue to benefit our communities. At the same time, Resorts World New York will create thousands of jobs for New Yorkers. This great investment will help set us on the path to economic recovery.”
"This day has been in the making for nine years, and it is one that we are very excited about," said New York Racing Association Chairman C. Steven Duncker. "Genting has been a terrific partner and we are looking forward to working with them for many years to come. Their Resorts World New York Casino will help New York racing reach new heights for horsemen, breeders and fans.”
Aside from the project’s more than 1,300 construction jobs, The Resort World New York casino will also require a diverse staff of hundreds of professionals in the entertainment, hospitality, security and foodservice industries.
“When so many jobs around our city are being cut, it is encouraging to see such a tremendous project as this one, which will offer so many New Yorkers reliable sources of income,” said Gary LaBarbera. President of the Building and Construction Trades Council of Greater New York.
“Resort World New York will certainly boost tourism in the region and thus, create new work opportunities for the hospitality workers in our union,” added Peter Ward. President of the New York Hotel & Motel Trades Council.
Founded in 1965, Genting is a global entertainment and tourism company operating in Asia, Europe, North America and on all four oceans through the Norwegian Cruise Line and Star Cruises brands. The Genting Group has more than 35,000 employees, a total market cap of us$ 37.5 billion and runs the most profitable casino in the world, located in Singapore.