Nas, already celebrated as a music legend and venture capitalist, is now making strides towards becoming a casino mogul. This week, Resorts World New York City received key approval for a significant expansion, marking a pivotal growth in the casino landscape of Queens.
Resorts World Expansion Approved
Resorts World New York City, operated by Malaysian gaming leader Genting Group, gained unanimous consent from the Queens Community Advisory Committee to transform its existing Aqueduct racetrack into a full-fledged Las Vegas-style casino resort. The ambitious $5.5 billion project promises to feature one of the world’s largest casino floors, a 7,000-seat entertainment venue, over 1,600 hotel rooms, several restaurants from renowned chefs, 3,000 units of workforce housing, and expansive new parkland.
While the expansion is still pending a full gaming license from New York State, the local board’s approval is a significant milestone. If granted later this year, Resorts World anticipates commencing operations by mid-2026, with complete development expected by the end of the decade. The project is projected to create thousands of union jobs and generate approximately $1 billion annually in tax revenue for New York.
Nas, who has strong ties to Queens and established a successful venture capital career with QueensBridge Venture Partners, has been an active advocate for this initiative. He has prominently featured in promotional materials, participated in press briefings, and underscored the project’s importance to his hometown. Fellow Queens native, Kenny “The Jet” Smith, is also involved, contributing to the development of a sports academy on the casino premises.
A Historical Perspective
The Aqueduct Racetrack boasts a storied history, having opened its doors in 1894 in South Ozone Park, Queens. For decades, it stood as a premier venue for thoroughbred racing, hosting prestigious events like the Wood Memorial Stakes. However, by the late 20th century, dwindling attendance at horse races prompted the state to authorize the introduction of video lottery terminals to revive struggling racetracks.
This move opened the door for Genting Group, which secured the rights to redevelop Aqueduct into a “racino.” Resorts World New York City opened its doors in 2011, showcasing thousands of slot machines and electronic table games, quickly becoming the nation’s most profitable slots operation, generating over $3 billion in tax revenue for New York’s education system in its first decade.
Laws prohibiting live dealers and traditional Las Vegas gaming restricted Resorts World’s offerings until 2023, when New York lawmakers approved up to three full casino licenses in the downstate region, instantly positioning Resorts World as a top contender.
Nas’s Involvement and Future Prospects
Nas officially joined the Resorts World initiative in 2024, lending not only his name but also his local identity to the project. He emphasized the potential for jobs, affordable housing, and economic growth for Southeast Queens, demonstrating that his participation goes beyond mere celebrity appeal; he is a genuine partner in connecting the project to the community.
With fierce competition for casino licenses, the timing of Nas’s involvement was pivotal. In September 2025, Resorts World’s proposal received local backing with a 6-0 vote from the Community Advisory Committee, marking a critical achievement. In stark contrast, another proposal led by Jay-Z was rejected by its community board, highlighting the competitive landscape for support.
Understanding Nas’s Stake
The exact size of Nas’s stake in this ambitious casino project remains undisclosed, leading to speculation. Given the scale and investment of Genting Group—with a market capitalization surpassing $20 billion—it is unlikely that an iconic figure such as Nas would receive a substantial equity share simply for promotional efforts.
Estimates suggest Nas’s net worth falls between $100 million and $200 million, largely influenced by his venture capital investments, including a significant stake in Coinbase. However, it is improbable that he is investing $100 million for a stake in this project, considering the overall cost and funding structure.
If Nas were to own a modest 1% of the casino project, it could yield substantial returns. As current casino revenues reach $1 billion yearly, projections for the new facility indicate potential revenues of $2.5 billion. Even a 1% stake could produce annual profits ranging from $2.5 million to $5 million, depending on future earnings.
In conclusion, Nas’s involvement in the Resorts World expansion holds promise for both his career and the local community. As this project progresses, it could become a significant economic driver for Queens and New York as a whole.
John is a seasoned journalist at The Bothside News, specializing in balanced reporting across news, sports, business, and lifestyle. He believes in presenting multiple perspectives to help readers form informed opinions. His work embodies the publication’s philosophy that truth emerges from examining all sides of every story.
