Downstate New York Casinos Might Hit $5.6 Billion Annually

(AsiaGameHub) –   The development of three full-scale casinos in downstate New York has the potential to create one of the nation’s largest regional gaming hubs. According to a new analysis from CBRE Institutional Research, these three projects could generate an annual gross gaming revenue of $4.7 billion in a base scenario, with the potential to exceed $5.6 billion annually in a high-growth scenario once the developments are fully established after 2031.

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Key Insights

• CBRE projects a downside scenario of approximately $4.1 billion in annual revenue.
• Gaming revenue is anticipated to constitute roughly 70% to 72% of the total revenue for these resorts.
• The three approved projects are Resorts World New York City, Bally’s Bronx, and Metropolitan Park.

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CBRE Identifies Significant Potential for a Large Casino Market

CBRE suggests that the downstate New York market is currently underserved, which supports the expectation that all three projects can achieve substantial casino revenue without immediate oversaturation. Under this outlook, the market would rank second in the United States, trailing only the Las Vegas Strip, once all three venues are fully operational.

The participants are confirmed. Genting Malaysia is set to expand Resorts World New York City in Queens, Bally’s Corp will construct a facility in the Bronx, and Steve Cohen, in partnership with Hard Rock International, will develop Metropolitan Park near Citi Field. New York regulators granted approval for these projects in December 2025.

Resorts World New York City may have an advantage in launching sooner. Industry reports indicate that table games could be introduced there by mid-2026, significantly ahead of the full development completion target around 2030 to 2031. CBRE also highlights the existing casino infrastructure, accessible transportation networks, and consistent visitor traffic near JFK Airport as factors that could facilitate a quicker ramp-up compared to a new greenfield site.

Gaming is expected to be the primary revenue driver. CBRE forecasts that slots and table games will contribute approximately 70% to 72% of the total resort income, with hotels, food and beverage services, retail, and entertainment expected to add over $1 billion annually across the three locations. This suggests a New York model that relies more heavily on casino demand rather than the diversified resort offerings characteristic of Las Vegas.

CBRE also notes that the projects are likely to benefit from a dense local population, robust transportation infrastructure, and the significant tourism appeal of New York City, which attracted around 65 million visitors in 2025. Nevertheless, local patronage is still anticipated to be the main source of gaming revenue.