Industry Reports

Resorts World Catskills Welcomes New President, CEO Full of Hopes

Resorts World Catskills and Resorts World New York City have recently met their new President and Chief Executive Officer appointed by Genting Group overseeing them. Bob DeSalvio is going to oversee operation of the two gaming locations from here on out. The appointment takes place at a pivotal point in the gaming development of the two casino resorts as Genting Malaysia solidified its position in the Catskills propertyโ€™s structure.

Field cannibalization has been an issue across New York Stateโ€™s gambling field with as many as four commercial casino locations in operation, as well as seven tribal gaming venues. Resorts World Catskills is the newest commercial casino resort on a state level, as it launched operation back in February 2018.

Gaming Expansion Near

Now the location has a new President and Chief Executive Officer, along with the New York City casino resort. Mr. DeSalvio was quick to express his contentment with the turn of events and his leading position in the structure of the two locations. He pointed out that he is ready for everything about to come within New York Stateโ€™s gaming field.

Transforming the casino resorts in question into even more popular ones and dragging Resorts World Catskills out of the mud is also among his goals. Mr. DeSalvio made it clear that New York should work more on its gaming offerings, as it has the potential to become a gambling hotspot of national magnitude. This could translate into expansion in the upcoming years, more and diverse offerings, as well as mobile sports wagering.

Projections are that later on this year, local lawmakers would be ready for a conversation regarding online sports betting and its eventual legalizing following the needed steps. This would make the state competitive enough to prevent players from flocking to neighboring New Jersey and Pennsylvania. Tan Sri KT Lim, Chief Executive Officer of Genting also expressed his position on the new appointment.

Las Vegas Sees Expansion too

What made Mr. DeSalvio a suitable candidate for the leading position is his extensive experience in the US gambling field. He has been part of the beginning stages of Encore Boston Harbor, through the planning stages, acquiring a license, as well as a permit for operation. He was also there for the US$2.6 billion projectโ€™s opening ceremony on June 23, 2019, only to be replaced by Brian Guilbrants later on in the fall.

Mr. DeSalvioโ€™s experience gained through this large project and its completion would be crucial for US$1.2 billion Resorts World Catskills. Estimation at the end of Q3 2019 showed that former owner Empire Resorts lost an overall US$238 million since February 2018. However, last summer saw a brand new poker room comes with 20 tables and as many as 180 seats being introduced to the casino resort. Expansion is in progress and new offerings would be seen.

As for the New York City location, there is a hospitality expansion currently in progress. This summer is about to see the official launch of a hotel tower adjacent to the casino location. It would offer as many as 400 rooms to its casino patrons and people traveling from near and far. Being the only casino in the region makes it a rather exotic offering. It should also be taken into account that Las Vegas is the next goal for Genting, which would develop a US$4.3 billion casino complex there.