Iconic rapper and venture capitalist Nas is set to expand his influence into the world of gaming as Resorts World New York City received unanimous approval to transform its Aqueduct facility into a full-scale casino resort. The ambitious $5.5 billion project promises to create thousands of jobs and generate significant tax revenue for the state, while being closely tied to Nas’s roots in Queens.
Approval for Major Casino Expansion
Resorts World New York City, owned by the Malaysian Genting Group, recently secured unanimous backing from the Queens Community Advisory Committee to convert its existing Aqueduct “racino” into a comprehensive Las Vegas-style casino resort. This ambitious project, with a budget of $5.5 billion, will boast one of the world’s largest casino floors, a 7,000-seat entertainment venue, over 1,600 hotel rooms, dining options from celebrity chefs, 3,000 workforce housing units, and extensive new parkland.
While the expansion still awaits a full gaming license from New York State, the local committee’s approval is seen as a critical milestone. If granted later this year, Resorts World anticipates opening its doors by mid-2026, with the complete project expected to finish by the end of the decade. The development is projected to create thousands of union jobs and contribute approximately $1 billion annually to New York’s tax revenue.
A Rich History and Future Potential
The Aqueduct Racetrack, located in South Ozone Park, Queens, has a long-standing history that dates back to its opening in 1894. Once a premier destination for thoroughbred racing fans, the facility saw declining attendance in the late 20th century as traditional horse racing lost popularity. To revive the struggling racetrack, New York State approved the incorporation of video lottery terminals in the early 2000s, paving the way for Genting Group to redevelop Aqueduct into a “racino.”
In 2011, Resorts World New York City launched with thousands of slots and electronic games, quickly becoming the most profitable slots operation in the nation, generating over $3 billion for New York’s education system in its first decade. However, legal restrictions prevented the casino from offering live dealer games until New York lawmakers permitted full casino licenses in 2023, allowing Resorts World to position itself as a frontrunner for one of these new licenses.
The Role of Nas
Nas officially joined Resorts World’s bid in 2024, leveraging his celebrity status and deep connection to Queens. He actively participated in promotional activities, emphasizing economic opportunities for the community, including job creation and housing developments. His engagement played a pivotal role in garnering local support, especially during a time of fierce competition for downstate casino licenses.
The local Community Advisory Committee celebrated a significant victory for Resorts World when they voted unanimously in favor of the project in September 2025. This approval contrasted starkly with the recent failure of Jay-Z’s rival bid, showing the impactful role of community engagement in securing approval for such large-scale developments.
Financial Implications of Nas’s Involvement
Although the exact details of Nas’s financial stake in the project remain undisclosed, experts speculate on its potential value. Given the scale of the $5.5 billion investment from Genting, it’s unlikely that Nas holds a significant ownership share. Current estimates of his net worth range from $100 million to $200 million, much of which is tied to private venture capital investments.
For instance, should Nas own a mere 1% stake in the new casino, based on projected annual revenues of $2.5 billion, his share could yield substantial profits. A net profit margin of 10% would equate to approximately $2.5 million annually, while a higher margin could boost his income significantly.
Conclusion
This endeavor marks an exciting new chapter for both Nas and the Queens community. With the potential for significant economic revitalization and job creation, the success of the Resorts World project could have lasting benefits for the local population. As the project evolves, many will be watching closely to see how it unfolds.
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