Malaysian Billionaire Expands New York Casino Resort

Resorts World New York City will add a 400-room hotel tower to its site in Queens.

The project includes a 1,200-room hotel, a 7,000-seat arena, and a sports center named after Kenny 'The Jet' Smith.

Resorts World New York City started its expansion after getting a gaming license last December.

The first phase, with live table games and slot machines, was completed in April, making it the city's first full-fledged casino.

The resort paid $170 million in casino taxes in 12 weeks and added 1,400 slot machines, making it the largest casino in the U.S.

The executive chairman said they are moving towards creating a first-of-its-kind integrated resort in New York City.

Genting group chairman Lim Kok Thay attended the soft opening of a casino in Singapore in 2010.

The full expansion will create 10,000 jobs and add 2 million square feet of gaming, entertainment, and retail space.

The new resort is projected to generate $2.2 billion in annual revenue once completed.

Genting has been operating in Queens for 15 years, attracting 5 million visitors and employing 2,500 people.

The gaming empire was started by Lim's father, who built a mountaintop casino resort in Malaysia with no money or formal education.

Lim has expanded the group internationally and diversified into businesses like energy and biotechnology, with a net worth of $1.6 billion.

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