Nas and Resorts World NYC Unveil $5B Proposal for Queens Revitalization
Nas, the celebrated hip-hop artist, is leading an ambitious endeavour to reshape the landscape of New York City, particularly his hometown of Queens. Teaming up with Resorts World Casino New York City and its parent company, Genting America East, Nas is championing a $5 billion redevelopment project aimed at breathing new life into the community.
According to reports from Commercial Observer, executives from Genting America East, including Nas, presented plans for the ambitious redevelopment initiative. The proposal outlines a transformation of the Resorts World establishment into a sprawling Las Vegas-style casino complex.
Key features of the project include the addition of 30 new dining and entertainment options, a state-of-the-art 7,000-seat performance venue, and the incorporation of 1,600 new hotel rooms within the existing Hyatt Regency at John F. Kennedy International Airport. Additionally, Genting America East has proposed a substantial 350,000-square-foot expansion of the Resorts World casino floor, positioning it to become the largest gambling destination globally.
In addition to revenue-generating components, the redevelopment plan emphasizes community impact, with provisions for housing units capable of accommodating up to 3,000 employees and the creation of a 10-acre park space for local residents.
Expressing his enthusiasm for the project, Nas conveyed his belief in the transformative potential it holds for Queens residents. In a celebratory Instagram post, he highlighted the opportunities it would offer to hard-working families and its role in fostering the growth of future leaders.
However, despite the ambitious vision outlined by Nas and Resorts World, significant hurdles remain before the project can move forward. Resorts World currently holds a “race-ino” license, limiting its operations to racing and slot machines. To realize the proposed expansion, the company would need to secure a full licensing permit for table games, along with competing for one of the three available downstate casino licenses, each priced at $500 million.
Resorts World’s bid faces stiff competition, including proposals from SL Green Realty and Caesars Entertainment, who have partnered with Jay-Z’s Roc Nation to propose the construction of Caesars Palace Times Square. Jay-Z emphasized the economic opportunity and community enrichment potential of their project, echoing the sentiment of revitalization shared by Nas and Resorts World.
