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Resorts World New York City is trying to win a tax break worth hundreds of millions of dollars as it pushes to expand, according to CDC Gaming. The effort has drawn support from Queens lawmakers, who argue the project could collapse without relief. So far, Gov. Kathy Hochul’s administration has not changed its position.
Resorts World is seeking a lower tax bill
The central dispute is over the casino’s total tax burden. CDC Gaming reported that Resorts World New York City and its owners are trying to persuade the Hochul administration to reduce that bill by hundreds of millions of dollars.
The source does not specify what tax rate or structure the company wants changed. It also does not detail the exact expansion plan tied to the request.
Queens lawmakers are backing the push
Queens lawmakers have joined Resorts World’s effort, according to the report. Their argument is that the casino expansion could otherwise collapse if the tax relief is not granted.
That makes the issue more than a private negotiation between an operator and the state. It also puts local political support behind a request that could affect the economics of one of New York City’s casino projects.
What New York readers should watch next
At this stage, the key unanswered question is whether the state will reconsider. CDC Gaming reported that the Hochul administration has thus far refused to budge.
Readers should watch for more detail on three points: what specific tax change Resorts World wants, which part of the expansion depends on that relief, and whether state officials open the door to further negotiations.
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Source: As reported by cdcgaming.com.
