Malaysian billionaire Lim Kok Thay, Chairman and CEO of the global leisure conglomerate Genting Group, has placed a bold $5.5 billion bet on expanding his casino empire in New York City. After securing one of the coveted downstate New York full-casino licenses, Lim is now preparing to transform Resorts World New York City in Queens into a world-class integrated resort.

This milestone not only strengthens Genting’s footprint in the United States but also signals one of the company’s largest investments ever made outside Asia.

Who Is Lim Kok Thay? (Net Worth, Companies, Global Influence)

Net Worth

👉 Lim Kok Thay’s net worth is estimated at around USD $2.2 – $2.5 billion.

Companies & Roles

Lim Kok Thay leads one of the largest leisure, gaming, and hospitality empires in the world:

• Chairman & CEO of Genting Group
• Chairman of Resorts World global chain
• Owner/Chairman of Star Cruises (Genting Hong Kong)
• Founder of Genting’s major properties across:
  • Malaysia
  • Singapore (Resorts World Sentosa)
  • Philippines
  • UK
  • USA (Resorts World Las Vegas, Resorts World New York City)

Under his leadership, Genting Group operates 70,000+ employees, dozens of hotels, theme parks, casinos, and cruise ships.

Genting’s $5.5 Billion New York Casino Expansion

After winning the new downstate New York gaming license, Genting will expand its current property — Resorts World New York City at Aqueduct Racetrack — into a massive Vegas-style mega-resort.

Key Features of the New Expansion

• 500,000 sq. ft. gaming floor
• 6,000 slot machines
• Up to 800 live table games (blackjack, baccarat, roulette)
• 2,000+ luxury hotel rooms
• A 7,000-seat entertainment arena
• New fine-dining restaurants & nightlife venues
• Large conference and exhibition center
• Urban wellness and spa facilities

This makes it one of the largest casino developments in U.S. history outside of Las Vegas.

Why New York? The Strategic Importance

1. High-Value Market

New York City is one of the most lucrative gaming and tourism markets in the world — with over 20 million residents and 60+ million yearly visitors pre-pandemic.

2. A Head Start Over Competitors

Unlike new bidders, RWNYC already operates the site with existing infrastructure.
This means:

• Faster construction
• Lower development risk
• Early opening advantage
• Immediate access to NYC’s massive customer base

3. Genting’s U.S. Growth Strategy

Genting already operates:

• Resorts World Las Vegas (RWLV)
• Resorts World Catskills (partnership)
• Resorts World New York City (RWNYC)

The New York expansion deepens its U.S. presence, balancing the company’s revenue against regulatory uncertainties in Asia.

Economic Impact: What New York Gets

Huge Job Creation

• 10,000+ construction jobs
• 5,000+ permanent jobs across hospitality, gaming, F&B, management, entertainment, and security

Massive Tax Revenue

Reports estimate the project could generate:

• $7 billion in gaming taxes from 2027–2036
• Over $1 billion in annual economic activity
• Significant contributions to schools, transit, and community projects

Tourism Boost

The upgraded Resorts World New York City could attract millions more visitors, turning Queens into an international entertainment hub.

Challenges Facing the Project

Despite strong approval, several hurdles remain:

1. Community & Regulatory Scrutiny

Concerns around:

• Traffic
• Housing strain
• Gambling addiction
• Local business displacement

2. Cost & Timeline Risk

A $5.5B development requires tight financial discipline. Delays could impact returns.

3. Competition in the Long Term

Although Genting has an early advantage, future casinos in Manhattan or Brooklyn may challenge market share.

Lim Kok Thay’s Global Vision

For Lim Kok Thay, this expansion reflects his strategic transformation:

Genting Under His Leadership

• Expanded from a Malaysian hill resort into a global luxury gaming empire
• Launched Resorts World Sentosa, one of Asia’s most lucrative IRs
• Opened Resorts World Las Vegas, costing nearly $4.3 billion
• Built one of the world’s largest cruise lines earlier through Star Cruises

The New York super-casino marks his next global statement project.

Future Outlook

Over the next decade:

• The New York resort could become Genting’s largest revenue generator
• The expansion will strengthen Genting Malaysia and Genting Bhd’s global portfolios
• New York may become a top-five gaming market worldwide
• Genting could pursue further U.S. opportunities in Florida, Texas, or Chicago

If completed on schedule, Resorts World New York City could start live gaming operations as early as 2026–2027.

Conclusion

Billionaire Lim Kok Thay’s $5.5 billion gamble to transform Resorts World New York City is more than a casino upgrade — it’s a massive economic catalyst, a strategic global expansion, and a bold bet on the future of the U.S. gaming industry.

If successful, this will stand as one of Genting’s most iconic achievements and a defining moment in New York’s entertainment history.