Resorts World Casino scores $290M refi for Aqueduct Racetrack

Wells Fargo is the lender for the 2M sf complex

TRD New York /
Jul.July 06, 2017 03:45 PM

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.

Related Articles

With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

From left: 172 Madison Avenue, 100 East 53rd Street, Woolworth Tower, 53 West 53rd Street, 615 10th Avenue

Loan wolves: Bankers are stalking developers as debts come due

Pope Francis (Credit: WIkipedia, iStock)

Unholy real estate strategy: Catholic churches shuffle properties to shield billions from sex abuse victims, report says

(Credit: iStock)

Real estate created the Chinese elite. Here’s what happens next

160 Imlay Street

Est4te Four gets $74M inventory loan for Red Hook condo

As crowdfunding startups rethink their business model, many are becoming more like traditional real estate investment firms (Credit: iStock)

To survive, crowdfunding firms are remaking themselves

1633 Broadway, 55 Hudson Yards, and 650 Madison Avenue (Credit: Google Maps)

A pair of billion-dollar refis tops the list of Manhattan’s largest real estate loans in December