Ten lawmakers from Queens have sent a letter to New York Governor Kathy Hochul demanding she intervene in a tax dispute that could raise the slot tax rate for Resorts World New York City to 72%. The letter was sent on August 25 to Gaming Commission Chairman Brian O'Dwyer, a Hochul appointee.
Resorts World, owned by Genting, has operated as a slot hall in Jamaica since 2011. This year the casino received a licence to add live table games — baccarat, blackjack, craps. As part of its full-licence application, the operator proposed a 56% rate on slot revenue, including payments to support the racing industry. The casino currently pays that 56%.
The seven-member Gaming Commission, five of whom were appointed by Hochul, insists the 56% does not account for Resorts World's separate obligation to fund the racing industry. That adds another 16% of slot revenue, bringing the total to 72%. The additional payments would amount to roughly $150 million a year over the 15-year contract.
For comparison: Atlantic City's rate is 9.25%, Michigan charges 19%, Ohio 33%. State Senator Joe Addabbo, chair of the gaming committee, called the 72% rate excessively high and demanded the governor step in.
Lawmakers warned the dispute threatens not one company but billions in private investment, thousands of jobs and local business. At stake is Resorts World's $4 billion expansion — a project meant to create union jobs and opportunities for local contractors. The letter was signed by Congressman Gregory Meeks, chair of the Queens Democratic Party, and nine other legislators. A decision on the dispute is expected soon.
