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$2.5 Billion Commitment to MTA by Resorts World New York City

In a groundbreaking announcement, Resorts World New York City (RWNYC) has projected that it will contribute $2.5 billion to the Metropolitan Transportation Authority (MTA) over the next four years, significantly outpacing the anticipated casino revenue of $1.8 billion. This bold initiative showcases the casino's potential not just as an entertainment hub, but as a vital player in the financing of New York's public transit system.

The projections suggest that RWNYC will begin its operations by March 2026 if it receives the necessary gaming licenses from the New York Gaming Facility Location Board and the Gaming Commission by the end of December 2025. With a hefty upfront license fee of $600 million, RWNYC is geared to generate approximately $1.9 billion in tax payments to the MTA, making its projected contribution to the MTA a necessity and a boon for public transportation funding.

The planned budget allocation to the MTA includes:

• - $500 million in 2026
• - $500 million in 2027
• - $600 million in 2028
• - $200 million in 2029

This piecemeal approach totals the expected $1.8 billion that MTA has budgeted, indicating an impressive surplus that will be available for transit improvements and expansions.

With the recent withdrawal of MGM Yonkers, RWNYC stands as the only operating full commercial casino in Downstate New York, positing itself as a crucial player in generating additional revenues to benefit education and support the New York Racing Association (NYRA). The projected revenues from RWNYC will hugely impact local education systems and sustain jobs within the equine industry.

Robert DeSalvio, President of Genting Americas East, noted the significance of this endeavor, stating, “This is not just a casino expansion. It's a transformative economic development project that will keep New York City moving in every way.” He emphasized the casino's exclusive position to assure a constant flow of new revenue for the MTA.

Queens Borough President Donovan Richards Jr. articulated the critical nature of this funding, pointing towards the intrinsic link between robust public transport and the quality of life in local neighborhoods. He conveyed his appreciation to Resorts World for their commitment to ensuring that every community achieves high-quality public transportation, regardless of socioeconomic factors.

Notably, the anticipated financial influx isn’t solely earmarked for transit; Resorts World also pledges $2 billion to education and $0.5 billion to support the equine industry. Since its inception in 2011, RWNYC has contributed over $4.5 billion to New York's public education system and billions more towards the equine industry, thus successfully sustaining tens of thousands of jobs.

State Senator James Sanders Jr. echoed these sentiments, stating that this investment is more than a simple gaming venture; it represents significant growth. He highlighted that the contributions to the MTA will enable lawmakers to focus more on enhancing services for the public.

Assemblywoman Stacey Pheffer Amato reinforced the project’s importance, stating, “This investment from Resorts World isn't just about gaming — it's about growth.” Furthermore, Assembly Member Alicia L. Hyndman added that such private-sector support for public works is fundamentally essential, especially during periods when resources are stretched thin.

By facilitating more focus on community benefits, Resorts World is not just making promises; they are delivering tangible results in enhancing the city's infrastructure. Betty Braton, Chair of Community Board 10 in Queens, reaffirmed that the casino has actively engaged the local community to improve accessibility, perhaps setting a new standard for corporate responsibility.

As Resorts World New York City gears up for what promises to be a transformative expansion, the ramifications of their financial commitments will echo throughout New York City, marking a new era for public transportation funding. This initiative stands as a potent reminder that large-scale developments can indeed serve to benefit the common good, harnessing the potential of the gaming industry for broader societal gain.