The landscape of downstate New York may soon undergo significant changes with the introduction of three new casino facilities. These developments are poised to bring an exciting new dimension to the state’s entertainment and economic panorama.
A Critical Decision
The New York State Gaming Facility Location Board has made a crucial move by setting a new bid deadline for these casinos: June 27, 2025. However, a bill currently awaiting Governor Kathy Hochul’s signature, which has an earlier deadline of August 31, 2024, could override this decision. Authored by Senator Joe Addabbo, the bill known as S9673A could hasten the pace significantly if signed into law. This legislation has already passed through both the house and senate in early June.
Concerns Over Ambitious Timelines
The facility location board has expressed reservations about the ambitious timeline dictated by the bill. Vicki Been emphasized the impracticality of a swifter deadline, stating, “Politicians may want a quicker deadline, but that would be impractical.” The board has highlighted the necessity for all ‘entitlements and zoning’ to be approved before any bids can be reviewed. This includes essential environmental impact studies and necessary zoning changes.
Specifically, the Bally’s Bronx proposal and Steve Cohen’s Queens proposal need rezoning from their parkland designations to accommodate these casino facilities. This adds another layer of complexity to an already intricate process.
A Competitive Bidding Process
The race to develop casinos in various prime locations is fierce, with 11 bidders vying for the coveted spots. These prime locations range from Times Square to Brooklyn and include proposals not only for casino facilities but also for resorts, housing units, and neighborhood improvements. The mix of commercial and tribal operators adds a unique dynamic to the bidding process.
The array of proposals includes noteworthy names such as:
- Avenir: Silverstein Properties and Greenwood Gaming in Manhattan.
- Bally’s Links at Ferry Point: Bally’s Corporation in The Bronx.
- Caesars Palace Times Square: Caesars Entertainment, SL Green, and Roc Nation in Manhattan.
- Coney Project: Thor Equities, Legends Entertainment, the Chickasaw Nation, Saratoga Casino Holdings in Brooklyn.
- Freedom Plaza: Soloviev Group and Mohegan Gaming in Manhattan.
- Metropolitan Park: Steven Cohen and Hard Rock International in Queens.
- MGM Empire City: MGM Resorts International in Yonkers.
- Resorts World New York City: Genting Group in Queens.
- Sands New York: Las Vegas Sands in Nassau County, Long Island.
- Saks Fifth Avenue: Hudson’s Bay Company, with the operator to be determined, in Manhattan.
- Wynn New York City: Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan.
A Delicate Balance
The board members recognized the potential conflict between their decision and the stipulations of S9673A during their recent meeting. They remain optimistic that obtaining bids by the new deadline will not hinder their goal of issuing licenses by the end of 2025. “The hope would be that our reasoning will be helpful to the governor,” Vicki Been remarked, suggesting a cooperative approach moving forward.
Potential Transformation
The outcome of this process could reshape the entertainment and economic landscape of downstate New York, bringing gaming and broader development projects into some of the state’s most iconic areas. With proposals spanning such diverse and high-stakes locations, the next steps in this development are eagerly awaited by all stakeholders involved.
As the timeline tightens and legislative decisions loom, the balance between ambitious goals and practical implementation will be critical in determining the future of these grand casino projects in New York.