Malaysian billionaire Lim Kok Thay has begun construction on the second phase of a $5.5 billion [1] integrated casino resort expansion in New York City.

The project represents a massive capital injection into Southeast Queens and aims to transform the region into a premier destination for gaming, luxury lodging, and entertainment.

Lim Kok Thay, who controls the Genting Group and its Resorts World New York City unit, is leading the development. The current phase of the expansion includes the construction of a 400-room [1] hotel tower that will be attached to the Hyatt Regency. Additionally, the plan features the creation of the Crockfords Hotel, which will provide 1,200 rooms [1].

In total, this phase of the development will add 1,600 hotel rooms [3] to the site's capacity. Beyond lodging, the expansion includes the construction of a multi-purpose sports and media arena [3]. This facility is intended to diversify the resort's offerings by integrating professional media capabilities and athletic events into the casino complex.

The scale of the project is expected to have a significant impact on the local labor market. According to project details, the expansion will generate thousands of union jobs [3] during and after the construction process.

This $5.5 billion [2] investment continues Genting's push to establish a dominant presence in the U.S. gaming market. By combining high-end hospitality with a sports-centric arena, the developer is betting on a diversified entertainment model to attract both international tourists and local visitors to the Queens borough.

“The expansion will generate thousands of union jobs.”

The expansion of Resorts World New York City signals a shift toward 'integrated resorts' in the U.S., where gaming is only one component of a larger ecosystem including luxury hotels and sports infrastructure. By adding a media arena and nearly 2,000 rooms, Genting is positioning the site to compete not just as a casino, but as a regional hub for tourism and events, potentially altering the economic landscape of Southeast Queens.