More than a decade after New York voters approved casinos in the downstate region, the long-winded selection process is finally nearing its end. On Monday, the New York Gaming Facility Location Board is expected to recommend licenses for all three remaining projects, paving the way for the long-delayed expansion of full-scale casino gambling in New York City.
All Three Projects Should Receive Final Approval
The announcement, which will take place during the morning meeting at CUNY’s Graduate Center, will mark the most significant shakeup in New York’s casino scene since the 2013 legislative amendment that allowed up to seven casinos across the state. While four upstate venues have been operating for years, the three licenses reserved for the New York City area got caught up in a maze of regulatory steps.
This time, experts are not expecting any surprises. The state stands to collect more than $1.5 billion in licensing fees alone, and elected officials are eager to secure any new sources of income amid mounting budget pressures. If the board signs off on all three applications, most experts believe the state Gaming Commission will also approve the recommendations when it votes at the end of December.
Governor Kathy Hochul welcomed the board’s preliminary approval, framing the projects as drivers for employment and economic development. However, the final selection is slimmer than many initially anticipated. Eight developers entered the review process, but only four cleared the early hurdles. One dropped out at the final stretch, leaving only Bally’s, Hard Rock, and Resorts World competing for three licenses.
The State Expects to Reap Significant Benefits
The Bally’s project envisions a casino and hotel complex in the Bronx. The operator expects to attract roughly nine million visitors a year, generate nearly $400 million in tax revenue, and create thousands of full-time jobs. The development will be situated on the former Trump Golf Links at Ferry Point and will include a 500,000-square-foot casino, a high-end hotel with 500 rooms, a 2,000-seat venue for shows, and various shops and restaurants.
In Queens, Mets owner Steve Cohen and Hard Rock International are pitching their Metropolitan Park development adjacent to Citi Field. The project covers over 50 acres, including a 25-acre public park, a Hard Rock hotel and casino, and multiple amenities. According to the group, its project could generate over $1 billion in annual tax revenue and create more than 6,000 union jobs.
Meanwhile, Resorts World seeks to turn its current electronic gaming facility in Queens into a full-fledged casino. Since it already has a presence on the site, Resorts World argues it can ramp up operations quickly, providing immediate financial returns for the state. The Gaming Commission’s final verdict should arrive on December 31, marking a new chapter in New York’s casino sector.