The landscape of downstate New York may soon undergo significant changes with the introduction of three new casino facilities. This potential transformation comes in light of the recent decision by the New York State Gaming Facility Location Board, which set a new bid deadline of June 27, 2025, for these casinos.
However, a bill currently awaiting Governor Kathy Hochul’s signature could expedite this process. This legislation, authored by Senator Joe Addabbo and known as S9673A, mandates a deadline of August 31, 2024, for bidders to submit their proposals. The bill had successfully passed through both the New York State Senate and Assembly earlier this June.
If the governor signs the bill, it would override the facility location board’s decision, thus accelerating the timeline significantly. The board has voiced its concerns about this ambitious schedule, highlighting the many preconditions that must be met before any bid can be reviewed. “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable,” stated the New York State Gaming Facility Location Board.
Among the preconditions are environmental impact studies and essential zoning changes. Notably, proposals for Bally’s Bronx and Steve Cohen’s Queens casino require rezoning from parkland designations to accommodate the new facilities.
Intense Competition Among Bidders
With 11 bidders vying for the opportunity to develop casinos in prime locations ranging from Times Square to Brooklyn, competition is intense. Each proposal brings more than just gaming facilities; they include resorts, housing units, and neighborhood improvements.
The array of proposals is diverse, involving both commercial and tribal operators. Some of the prominent bids include:
- 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.
Balancing Speed with Practicality
The board members acknowledged the potential conflict between their established timeline and the stipulations of S9673A during their Thursday meeting. Vicki Been, a member of the board, clarified that while politicians may favor a quicker deadline, such an accelerated pace may not be practical. “Politicians may want a quicker deadline, but that would be impractical,” she remarked.
Compounding the timeline issues is the necessity of securing all required entitlements and zoning approvals, which underpins the board’s caution. These procedural steps are critical to ensuring that environmental and structural prerequisites are met, thereby creating a viable development path for each project.
Despite these concerns, the board remains hopeful that the bidding process, once aligned with their extended timeline, will not delay the ultimately more important goal of issuing licenses by the end of 2025. “The hope would be that our reasoning will be helpful to the governor,” added Been, highlighting the board's optimistic outlook.
Potential for Economic Impact
The outcome of this bidding war holds substantial implications for the economic and entertainment landscape of downstate New York. The introduction of casino facilities in such iconic areas could drive significant economic growth, spurring developments that encompass broader community benefits.
It’s a high-stakes game where the next few decisions could reshape New York’s future, blending gaming excitement with holistic neighborhood improvements. All eyes are now on Governor Hochul’s decision and how these new casinos will ultimately fit into the fabric of one of the world's most dynamic urban environments.