Hogan Lovells Advises Resorts World New York City on Historic NYC Casino License

Hogan Lovells advised Resorts World New York City (RWNYC) as the New York State Gaming Commission granted final approval for a historic casino license that enables the first casino to operate in New York City. The approved transaction contemplates a proposed 5.6-million-square-foot integrated resort in Queens. RWNYC’s updated economic analysis and projections show total spending of US$7.5 billion on and around the project, including US$5.5 billion in site development and US$2 billion in community benefits. State and local tax payments over the initial ten years of operation are estimated to total up to US$18.8 billion. RWNYC expects to create more than 100,000 construction, permanent, indirect and induced jobs as it realizes the proposed development. The planned resort will include a 500,000-square-foot casino hosting 10,800 gaming positions, a 7,000-seat entertainment venue, some 30 new dining options, day clubs and spas, more than 12 acres of greenspace, and US$2 billion in community investments. Hogan Lovells represented Resorts World New York City with a team composed by: partners Ross Moskowitz (real estate), Trevor Adler (real estate), and Karen Scanna (real estate); counsel John Egnatios-Beene (real estate); and associate Brandon Hamroff (real estate).

Hogan Lovells Advises Resorts World New York City on Historic NYC Casino License

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