Dive Brief:
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International hospitality and casino company Resorts World announced a $400 million expansion of its "racino" at the Aqueduct Racetrack in Queens, NY, according to the New York Daily News.
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The project will add a 400-room, four-star hotel; more restaurants, including one to be headed by a celebrity chef; retail stores featuring local products; and more slot machines.
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The project, which is scheduled for completion in mid-2019, is expected to generate more than 3,000 construction jobs and 1,000 permanent positions as well as $200 million in economic benefits for New York City.
Dive Insight:
The project comes as some cities look to amusement features, like casinos, for economic development. In December, the $1.4 billion MGM National Harbor casino complex opened just outside of Washington, DC, in Maryland. It surpassed its local hiring requirements during construction, and local officials hope the development's casino, hotel, convention and meeting spaces, in addition to its retail and dining amenities, will be a boon for the state's economy.
Meanwhile, construction is finally underway on Resorts World's $4 billion casino and resort complex in Las Vegas after a ceremonial groundbreaking in 2015. Resorts World is building the massive, 7,000-room development on the 87.8-acre site of the former Stardust Hotel and Casino. It expects to open the first phase sometime next year.
Resorts World's parent company, Genting, said the resort will have Chinese-themed features like a panda exhibit and replicas of the Great Wall of China and the Forbidden City. The first phase will include a 3,307-room tower with more than 657,000 square feet of public spaces, including a movie theater, a convention center, a 29,350-square-foot lake and a Chinese garden. The project will also feature a 175,000-square-foot casino.
After lengthy licensing and local legal battles, Wynn Resorts is underway with a $2.4 billion casino in Everett, MA. In 2016, the company awarded Suffolk Construction Co. a $1 billion contract to build the project. The three-million-square-foot resort is expected to create 4,000 temporary construction jobs and 4,000 permanent positions when it is complete late next year.
