THE QUEENS
DECEMBER 2020
Resorts World NYC’s revenue surpasses $3B for state’s public schools
BY BILL PARRY
bparry@schnepsmedia.com
@QNS
At a time that the city and state budget
are stretched thin due to the COVID-19
pandemic, and the lack of a federal bailout,
Resorts World Casino New York City
is proving to be much more than an economic
engine for southeast Queens, but a
boon to New York’s public schools.
Th e state’s largest taxpayer’s parent company
announced Tuesday that it has generated
more than $3 billion for New York’s
Lottery educational fund since opening in
2011 in South Ozone Park.
“Since opening its doors nine years ago,
Resorts World has fulfi lled its commitment
to be an economic driver, a good
community partner, a leader in generating
signifi cant and much-needed resources
to New York’s public schools,” Genting
Americas East President Bob De Salvio
said. “As New York begins its recovery, we
are proud to continue to provide critical
support so that kids across the state have
access to a higher-quality education, and
we are ready to step up and elevate that
support in both the short- and long-term
for the state.”
Th e New York Lottery continues to be
North America’s largest and most profi table
lottery, contributing $3.38 billion in
fi scal year 2019-2020 to help support education
in the state, of which RWNY generated
$348 million, a greater share than
any of the other video gaming operators
in New York. Th e city received $1.5 billion
from the overall fund in 2019-2020.
Th e revenue is used to support education
across more than 700 school districts
across New York State, distributed
through a statutory formula that provides
larger shares of funding to lower-income
school districts.
“I congratulate Resorts World Casino
New York City on reaching $3 billion in
revenue generated for New York’s education
fund,” Congressman Gregory Meeks
said. “Since their opening, RWNY has
always been a valued community partner,
and I’m glad to see that its success is also
an investment in our schools. Th ere is no
question that these funds will help prepare
students for the future with the education
and tools they’ll need to compete
for the jobs of tomorrow.”
Passing the $3 billion mark generated
for the education fund comes just weeks
aft er RWNY announced plans for a new
hotel on the property, the Hyatt Regency
JFK at Resorts World New York, an eightstory,
400-room, four-star hotel scheduled
to open early next year. It will feature residential
inspired guest rooms and premium
suites with state-of-the-art in-room
technology.
Th e hotel will also include restaurants,
an array of conference and meeting spaces,
retail options and additional gaming
areas. RWNYC is the only casino in New
York City, off ering more than 6,000 slots
and electronic table games to millions of
guests annually.
“Over the last nine years Resorts World
NYC has proven to be a fantastic community
partner for not only South Ozone
Park, but for New York state, and this
incredible milestone is proof of that,” said
state Senator Joseph Addabbo, chair of
the Senate Committee on Racing, Gaming
and Wagering. “Th e $3 billion Resorts
World NYC has generated for New York’s
Lottery education fund has been used
to improve the lives of countless students
and teachers across the state. I am
extremely proud to have Resorts World
NYC in my district and hometown, and
I look forward to continuing to partner
with them going forward.”
Th e $400 million hotel development
will bring the total investment of RWNY
to more than $1.1 billion since opening
aft er Genting spent more than $700 million
to enhance the existing Aqueduct
grandstand to become a leading entertainment
destination. Th e hotel is estimated
to create more than 500 well-paying
careers for New Yorkers and provide
additional revenue for New York State’s
Lottery education fund.
“Resorts World has been a model community
partner in numerous ways, always
reaching out and working with the community
in good times and bad. Whether
that’s hosting job fairs, monthly meetings
with the community, serving as an
Early Voting site, or off ering hundreds
of well-paying jobs to the hard-working
men and women of south Queens,”
Assemblywoman Stacey Pheff er Amato
said. “Th e positive fi nancial boost RWNY
provides to our schools and students may
be the most impactful. Th e partnership
exemplifi es the positive economic contributions
the gaming industry has had
on our state and should inspire us to take
more action to create smart and responsible
opportunities to embrace gaming in
our state.”
Photo: Ellison Bronze Photography
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