Resorts World Casino refis Aqueduct Racetrack with $225M loan
Wells Fargo lender on property that is slated for a $400M expansion
July 21, 2016 02:13PM
The Resorts World Casino at Aqueduct Racetrack in Queens
Resorts World Casino at Aqueduct Racetrack refinanced the complex with a $225 million loan from Wells Fargo, property records filed with the city Thursday show.
Resorts World, which operates the casino complex at 110-00 Rockaway Boulevard in Queens, announced earlier this month that it’s planning a $400 million expansion of the property, which would add a 400-key hotel and more than 140,000 square feet of convention space to the property.
Plans also call for 1,000 new video-lottery terminals to be added to the existing 5,500 gambling machines.
Construction would take place on a parking lot west of the existing casino. If approvals come, the addition could be completed by April 2019.
Two state agencies, the Franchise Oversight Board, and the New York state Gaming Commission, would need to sign off on any expansion plan. A proposal in 2015 to add terminals operated by Nassau Regional Off-Track Betting Corp. failed.