Resorts World, one of three bidders for a casino license in the greater New York City area, will ask the state to reconsider the company’s tax proposal after offering to pay far more than two other possible projects, a person with knowledge of the matter matter said.
The company, part of Malaysia’s Genting Group, wants the state to lower its proposed tax rate or raise the levy that may be imposed on the other bidders, said the person, who asked not to be identified, discussing nonpublic information.
Resorts World has proposed the highest tax at 56% on slot machines for its project in Queens. Hard Rock International, which is planning a resort nearby in partnership with Mets owner Steve Cohen, is offering 25%, the state minimum, while Bally’s Corp. has proposed a 30% levy for its Bronx project.
The New York City casino process "is a once-in-a-lifetime opportunity for the entire state to benefit from new revenue for mass transit and public education,” Resorts World said in a statement. "The tax rates we have presented, at 56% on slots and 30% on tables, reflect our sense of responsibility to our properties across New York State, the greater industry, and the public.”
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