TLDR CBRE projects three new NYC casinos could generate between $4.1 billion and $5.6 billion in annual revenue About 70% of revenue is expected to come directly from gaming activities on casino floors Genting, Bally’s, and Hard Rock International hold the three NYC casino licenses Genting’s Resorts World New York has a first-mover advantage and could offer live table games later this year NYC casinos will operate differently from Las Vegas, relying heavily on gaming rather than hotels and entertainment
A new financial report says three newly approved casinos in New York City could generate up to $5.6 billion in annual revenue. The projection comes from CBRE Institutional Research, which released its analysis this week.
The $5.6 billion figure represents the best-case scenario in the report. The base case projection sits at $4.7 billion per year. Even the most pessimistic estimate still puts annual revenue at $4.1 billion.
If these numbers hold up, the three NYC locations would rank among the highest-grossing regional casinos in the United States.
CBRE estimates that around 70% of the revenue will come from gaming activities. That means the casino floors themselves will drive most of the income, rather than hotels, restaurants, or entertainment.
The research firm also expects the new properties to ramp up quickly. According to the report, they could reach full earning potential within just three years.
Three Operators, One Clear Leader
The three companies holding NYC casino licenses are Genting, Bally’s, and Hard Rock International. Each will develop its own property in the city.
Genting has a clear head start over the other two. The company already operates Resorts World New York in Queens, which gives it an existing customer base and working casino infrastructure.
Rather than building from scratch, Genting is investing billions to upgrade its current