The Real Deal New York

Resorts World Casino scores $290M refi for Aqueduct Racetrack

Wells Fargo is the lender for the 2M sf complex
By Miriam Hall | July 06, 2017 03:45PM

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The Resorts World Casino at Aqueduct Racetrack in Queens

Hold on to your hat! The Resort World Casino at Aqueduct Racetrack pulled in $290 million to refinance the property, records filed with the city Thursday show.

Wells Fargo is the lender, and the funding provides $82 million in new financing and replaces the remaining principal on a $225 million loan the bank issued last year.

Malaysia-based Genting Group’s Resorts World announced in July of last year that it is planning a $400 million renovation on the casino complex at 100-00 Rockaway Boulevard. The changes include adding 750,000 square feet to the complex, including a 400-key hotel, a 20,000-square-foot spa and resort and 140,000 square feet of convention space.

The plans also include 1,000 new video-lottery terminals in addition to the existing 5,500 gambling machines.

Representatives from Wells Fargo and Resorts World Casino could not be immediately reached for comment.