The face of downstate New York could soon change dramatically with the introduction of three new casino facilities. A key decision by the New York State Gaming Facility Location Board sets the bid deadline for these casinos at June 27, 2025. However, a bill pending Governor Kathy Hochul’s signature proposes a more aggressive timetable.
The bill, S9673A, penned by Senator Joe Addabbo, mandates that bidders submit their proposals by August 31, 2024, a full year ahead of the board's set deadline. Having already passed both the house and senate in early June, this legislation awaits one final nod from the governor.
Yet, this proposed timetable has ruffled some feathers. The Gaming Facility Location Board has expressed its concerns about the ambitious schedule. "Politicians may want a quicker deadline, but that would be impractical," noted Vicki Been, speaking on behalf of the board. Indeed, the board holds that bids cannot be reviewed until all ‘entitlements and zoning’ are approved, a process that could prove lengthy given current conditions.
The Rezoning Hurdle
One of the critical roadblocks is the need for environmental impact studies and rezoning changes. For instance, the Bally’s Bronx proposal and Steve Cohen’s Queens proposal necessitate rezoning from their current parkland designations to accommodate casino facilities. These zoning changes introduce a layer of complexity that cannot be ignored. "Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable," outlined the Gaming Facility Location Board in their meeting.
The Competitive Field
Despite the regulatory complexities, interest in developing these casino facilities remains high. There are currently 11 bidders vying to set up shop in prime locations, ranging from Times Square to Brooklyn. The proposals are as diverse as the locales they aim to transform, featuring a mix of commercial and tribal operators.
Among the contenders are: Avenir by Silverstein Properties and Greenwood Gaming in Manhattan, Bally’s Links at Ferry Point by Bally’s Corporation in The Bronx, Caesars Palace Times Square by Caesars Entertainment, SL Green, and Roc Nation in Manhattan, and the Coney Project by Thor Equities, Legends Entertainment, the Chickasaw Nation, and Saratoga Casino Holdings in Brooklyn.
Proposals and Prospects
Other bids include Freedom Plaza by Soloviev Group and Mohegan Gaming in Manhattan, Metropolitan Park by Steven Cohen and Hard Rock International in Queens, MGM Empire City by MGM Resorts International in Yonkers, and Resorts World New York City by Genting Group in Queens. Further afield, Sands New York is proposed by Las Vegas Sands in Nassau County, Long Island. Additionally, the Hudson’s Bay Company is behind a bid in Manhattan that would repurpose Saks Fifth Avenue, while Wynn New York City is put forth by Related Companies, Oxford Properties Group, and Wynn Resorts, also in Manhattan.
The Board’s Stance
The Gaming Facility Location Board members are keenly aware of the potential conflict between their decision and the stipulations of S9673A. However, they remain optimistic that setting the bid deadline for mid-2025 won’t impede the overarching goal of issuing licenses by the end of that year. "The hope would be that our reasoning will be helpful to the governor," commented Vicki Been.
If this timeline holds, the introduction of these new casino facilities could reshape the entertainment and economic landscape of downstate New York, infusing billions into local economies and transforming iconic neighborhoods with new resorts, housing units, and community improvements.