Downstate New York Casinos Could Reach $5.6 Billion a Year

Three full scale casinos planned for downstate New York could become one of the biggest regional gaming clusters in the country. A new CBRE Institutional Research analysis says the trio could produce $4.7 billion in annual gross gaming revenue in its base case and more than $5.6 billion in a high growth case once the projects mature after 2031.

Good to Know

• CBRE puts the downside case near $4.1 billion a year.
• Gaming is expected to account for about 70% to 72% of total resort revenue.
• Resorts World New York City, Bally’s Bronx, and Metropolitan Park are the three approved projects.

CBRE Sees Room for a Very Large Casino Market

CBRE argues the downstate New York market is still underpenetrated, which is why it sees room for all three projects to post strong casino revenue without crowding each other out too fast. Under that view, the market would trail only the Las Vegas Strip in the United States once all three properties are fully running.

The lineup is already set. Genting Malaysia will expand Resorts World New York City in Queens, while Bally’s Corp will build in the Bronx and Steve Cohen and Hard Rock International will develop Metropolitan Park near Citi Field. New York regulators selected those projects in December 2025.

Resorts World may get an early edge. Industry coverage says table games there could begin by mid 2026, well before the full buildout target around 2030 to 2031. CBRE also points to the property existing casino base, transport links, and steady traffic near JFK Airport as reasons it could ramp faster than a ground up site.

Gaming will still do most of the work. CBRE expects slots and table games to deliver about 70% to 72% of total resort income, while hotels, food, beverage, retail, and entertainment could add more than $1 billion a year across the three sites. That points to a New York model driven more by casino demand than by the broader resort mix seen in Las Vegas.

CBRE also says the projects should benefit from dense local population, strong transport access, and tourism demand in New York City, which drew about 65 million visitors in 2025. Even so, local play is still expected to be the main source of gaming revenue.

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