NY Senator Wants Casino Licenses Awarded Quickly After MGM Backs Out

New York State Senator Joseph P. Addabbo Jr. has asked the state’s Gaming Facility Location Board to speed up the approval of downstate casino licenses after MGM Resorts International dropped out of the competition. Addabbo, who leads the Senate Committee on Racing, Gaming, and Wagering, cautioned that any holdup could slow down important building work, job creation, and money for public services.

MGM Pulls Out of $2.3B Yonkers Casino Plan as Downstate Bidding Narrows to Three

MGM’s choice to pull out of the race caught many off guard, including Addabbo, who pointed out that the company had been viewed as a top contender for a while. The withdrawal was said to be due to suggested changes that would cut the license period from 30 to 15 years, making companies pay to renew later. MGM had plans to expand its Empire City Casino in Yonkers for $2.3 billion, but the company cited a crowded market and lower expected profits as reasons to back out.

Now that MGM is out of the picture, three contenders are still in the running for New York’s three downstate casino licenses: Genting Group wants to build Resorts World at Aqueduct Racetrack in Queens, Bally’s plans a casino at the old Trump Golf Links site in the Bronx, and Mets owner Steve Cohen has teamed up with Hard Rock International to propose an $8 billion “Metropolitan Park” near Citi Field. Addabbo pointed out that giving licenses to these remaining bidders would be a smart move, considering how things stand now.

Addabbo Presses for Swift Casino Decisions to Keep New York’s Economy Moving

The five-person Gaming Facility Location Board, with former New York City Deputy Mayor Vicki Been at the helm, plans to share its picks by December 1. The team, made up of experts in law, finance, and community growth, has taken months to check the financial side, community effects, and future success of each plan. Been said earlier that only ideas with strong support and clear perks for nearby areas would get the nod.

Each permit comes with a one-time $500 million charge and allows full casino action, including card games, slot machines, and in-house sports betting. Market watchers call the New York scene one of the most profitable in the nation, with the three winning plans likely to pull in billions in private money and create jobs for thousands.

Addabbo, who has backed casino expansion in the state for years, argued that delaying the process could lead to lost economic momentum and public trust, reported Bloomberg. The senator played a crucial part in pushing through the 2013 vote that allowed commercial casinos and in later laws that sped up the current licensing stage.

The Gaming Facility Location Board and the New York State Gaming Commission will make the final call, with approvals expected by year’s end. If this schedule sticks, building could start as soon as 2026, signaling a big change in New York’s entertainment and tourism scene.