The landscape of downstate New York may soon undergo significant changes with the introduction of three new casino facilities. This development follows a major decision by the New York State Gaming Facility Location Board to set a new bid deadline for these casinos to June 27, 2025.
Legislation and Deadline Conflicts
Interestingly, a bill with an earlier deadline of August 31, 2024, is currently awaiting Governor Kathy Hochul’s signature. If signed, this legislation, authored by Senator Joe Addabbo and known as S9673A, would override the facility location board’s decision and require bidders to submit their proposals by the end of summer 2024. The bill passed through both the house and senate in early June, amplifying the stakes involved in this high-profile race.
The facility location board has expressed concerns about the ambitious timeline dictated by the bill. The board stated, “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable.” Environmental impact studies and necessary zoning changes are preconditions that must be met before any bid can be reviewed.
Competing for Prime Locations
Among the proposed sites, the Bally’s Bronx proposal and Steve Cohen’s Queens proposal currently require rezoning from their parkland designations to accommodate the casino facilities. At present, 11 bidders are vying to develop casinos in various prime locations, from Times Square to Brooklyn and even down to Yonkers and Nassau County.
Some notable proposals 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.
Opportunities for Broader Development
These proposals are not just about casino facilities; many of them include resorts, housing units, and neighborhood improvements. The composition of the bidders also reflects a mix of commercial and tribal operators, adding another layer of complexity and competition to the proceedings.
During their Thursday meeting, the board recognized the potential conflict between their decision and the stipulations of S9673A. However, they remain optimistic. Vicki Been, a key voice in the meeting, commented, “Politicians may want a quicker deadline, but that would be impractical.” She added, “The hope would be that our reasoning will be helpful to the governor.”
The board believes that obtaining bids by the new deadline will not hamper the overarching goal of issuing licenses by the end of 2025. 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.
As New York stands on the brink of these transformative changes, all eyes will be on Governor Hochul’s decision, which will either set the stage for an expedited bid process or allow the facility location board's more extended timeline to prevail. Either way, the race to develop new casinos in downstate New York will undoubtedly continue to captivate attention, with implications that extend far beyond the confines of the casino floors.