Genting Malaysia confirmed that financing for the $5.5 billion Resorts World New York City expansion is in place. The company did not disclose the funding structure but said the figure includes $1.1 billion already invested in the existing property and $4.4 billion in new capital expenditure.
Phase two of the project began in July. The first phase of full casino operations opened on 28 April, when live table games were added to the existing video lottery terminals and electronic tables following receipt of a full gaming licence. RWNYC currently operates around 3,900 slots and 242 tables. By 2029 the expanded casino will span roughly 3.4 million square feet, with the gaming floor growing to 6,000 slots and 800 tables.
Genting expects a first-mover advantage, as competing greenfield projects will not open before 2030. The operator believes its 15 years in New York and the expansion will strengthen the property's long-term revenue potential.
