In a highly anticipated financial analysis, CBRE Institutional Research has projected that the three newly approved casino licensees in New York City could generate a staggering $5.6 billion in annual income.
This best-case scenario would place these properties among the highest-grossing regional casinos in the United States, with even conservative “bear case” estimates projecting a massive $4.1 billion in yearly revenue.
A Gaming-Centric Business Model
Unlike the Las Vegas Strip, where gaming typically accounts for less than one-third of total revenue, the New York market will be heavily dominated by traditional casino activities. CBRE estimates that roughly 70% of revenue will stem from the casino floor.
The fast-tracked nature of the market means analysts expect these venues to reach full earning potential within just three years. This is largely due to the “first-mover advantage” held by companies like Genting, which already operates Resorts World New York in Queens. By converting this existing facility into a full-scale integrated resort, Genting could offer live table games as early as late 2026, giving it a significant head start over competitors like Bally’s and Hard Rock.
Market Reality vs. “Vegas Style” Rhetoric
While politicians have frequently invoked the “Las Vegas-style” imagery, experts warn that the New York model will focus on high-margin gaming rather than large-scale entertainment and lodging. CBRE researchers pointed out that the table game penetration at all three New York sites will rank among the absolute highest in the country, driven by the massive local population and proximity to established transit hubs like the subway.
Ultimately, the New York market is poised to become a high-yield gaming powerhouse rather than a direct copy of the Sin City resort model.
