Resorts World Queens Faces $500M Bill for NY Horseracing Industry

Resorts World Queens, the only casino currently open in New York City, is required to make racing support payments of at least $150 million per year. The New York Gaming Commission contends that the racing support payments are to be made in addition to the casino's taxes.

The casino has paid over $4.5 billion to the state in education funds and more than $2.5 billion to horseracing interests over 15 years. The New York horse racing industry has struggled for several years, with total handle reaching $2.1 billion in 2024, up from $1.6 billion in 2014 but flat when considering inflation.

Belmont Park on Long Island is currently undergoing a $455 million renovation to modernize the historic facility. The renovation comes as the Belmont Stakes, the last leg of the Triple Crown, is set to run on Saturday.