NEW YORK, Dec 2 — Subsidiaries of Genting Malaysia were among three applicants chosen on Monday by New York’s Gaming Facility Location Board (GFLB) for a full commercial casino licence in downtown New York.

The Board approved all three remaining applicants, namely Genting New York with Resorts World New York City, Bally’s Corp in the Bronx and the partnership between New York Mets owner Steve Cohen and Hard Rock International in Metropolitan Park, Inside Asian Gaming reported.

In its selection document, the GFLB said it had made its decision after a comprehensive review.

The board stated that awarding three licences would best serve the state’s long-term economic, fiscal and community objectives based solely on legislative criteria.

It said projections showed robust revenues and steady annual growth once the market stabilises, indicating strong unmet demand for gaming in the downstate region.

Assuming licensing proceeds at the proposed tax rates, incremental gaming tax revenue is expected to reach about US$1 billion (RM4.1 billion) annually by 2036.

Total incremental gaming tax revenue is projected at around US$7 billion between 2027 and 2036, alongside US$1.5 billion in licensing fees.

The board noted that choosing only two applicants would have reduced projected incremental gaming tax revenue by US$1.1 billion to US$3.7 billion over the same period.

Nomura analysts described Genting Malaysia’s selection as a positive development for the group.

They said Resorts World New York City is likely to secure a 30-year full casino licence because its bid included a higher US$600 million licence fee compared to the minimum US$500 million and proposed tax rates of 56 per cent on slots and 30 per cent on tables.