Resorts World NYC is growing, but revenue is not keeping pace

Resorts World NYC is being assessed as a full commercial casino after six months of performance data in New York's downstate casino market. According to New York State Gaming Commission data, the facility averages about $30 million in gross gaming revenue per week. From early May to early November, weekly revenue ranged between $27 million and $32 million.

During this period, the number of slots and tables rose significantly. At opening, the facility started with about 2,500 slots and 240 tables, and today it has nearly 4,000 slots and 350 tables. The plans call for a gradual increase to 6,000 slots and 800 tables. However, the license application describes a configuration of 4,635 slots and 534 tables.

Daily average win per slot unit has fallen from $1,505 in the first week to about $700. Weekly promotional credits, which were around $700,000 in the first few months, now exceed $1.7 million. Even so, slot revenue has remained between $19 million and $22 million per week. Table revenue has not shown a meaningful increase despite more than 100 tables being added. In the third week of October, 242 units generated $12.2 million. In the two weeks that followed, with 301 and 345 units, revenue stayed below $10.5 million.

The stagnation in revenue poses a notable risk for the facility at the end of 2026. Resorts World projects that when all three licensed operators in the region are running in 2031, annual gross gaming revenue will reach $2.7 to $3 billion. The current pace is roughly $1.5 billion a year, so this target means nearly doubling. The State Gaming Facility Siting Board said these figures are well above the estimates of other applicants and the state's own internal analysis, and that they rest on assumptions about tourism and high-spending gaming.

Tax rates are also a point of contention. Resorts World pays 56 percent on slots and 30 percent on tables. Bally's Bronx had offered 30 and 10 percent, while Hard Rock Metropolitan Park had proposed 25 and 10 percent. Governor Kathy Hochul's administration and the company disagree over whether the 56 percent rate covers the annual horse racing support payments of at least $150 million. The company argues that adding these payments would push the effective rate above 70 percent. Both sides say the talks have been constructive, but the issue has not yet been resolved.