Gambling operator Empire Resorts Inc. announced on Thursday that it has reached an agreement to rename its Montreign Resort Casino to a Resorts World property. The $1.2-billion complex is currently under development in the town of Thompson in Upstate New York.
Under the agreement between Empire Resorts subsidiary Montreign Operating Company, LLC (MOC), and RW Services Pte Ltd., subsidiary of major casino developer and operator Genting Group, the newly-built casino resort will be able to use Resorts World and Genting trademarks, logos, and brand names. MOC will have to pay a single-digit percentage of its annual net revenue in exchange.
The license agreement is valid through December 31, 2027 and will then be renewed every year for the next 39 years.
Here it is important to note that despite the planned rebranding of the property, MOC will remain its developer and operator.
Montreign Resort Casino is the fourth commercial casino resort slated to open doors in Upstate New York. Tioga Downs Casino, del Lago Resort & Casino, and Rivers Casino & Resort Schenectady were the other three properties licensed by the New York State Gaming Commission to operate in that portion of the state. All three had their ribbons cut are now operational.
Montreign’s new full name is yet to be revealed. The property is slated for March 2018 opening. It will feature a 100,000-square-foot casino with 2,150 slot machines and 130 table games and with space for high roller games, an 18-story hotel, a 27,000-square-foot meeting and entertainment center, a golf course, different dining facilities, and a number of other options.
Commenting on the Resorts World licensing deal, Empire Resorts Executive Vice President said in a statement that they are happy to have the opportunity to leverage a brand with international recognition. Thus, their property will not have to build a new brand from the scratch but to build upon a well-known one, the executive added.
Under the license agreement, the Thompson casino resort will be included in Genting’s loyalty program that will provide numerous marketing opportunities for both companies and will make it possible for regular casino patrons to use different comps and be rewarded properly.
With a $1.2-billion price tag, Montreign Resort Casino is the last Las Vegas-style resort to be launched as part of New York State’s planned gambling expansion and the most expensive one. Under state law, any interested operator will have to wait for a little while before launching a new commercial casino within state borders.
On the other hand, New York is currently considering the legalization of online poker. The effort has gained quite a lot of support from influential members of both the state Senate and Assembly and hopes are that it will succeed in the Legislature this year. Two identical bills propose the regulation of online poker as a game based on skill and not on mere chance. In other words, if the game is legalized, this will not be interpreted as a form of gambling expansion.
