The landscape of downstate New York may soon undergo significant changes with the introduction of three new casino facilities. This development comes after the New York State Gaming Facility Location Board made a crucial decision to set a new bid deadline for these casinos to June 27, 2025.
However, a bill with a deadline of August 31, 2024, is currently awaiting Governor Kathy Hochul’s signature. If signed, the legislation would override the facility location board’s decision and require bidders to submit their proposals by the end of summer 2024. The bill, known as S9673A, was authored by Senator Joe Addabbo and had previously passed through both the house and senate in early June.
The board has voiced its concerns about the ambitious timeline dictated by the bill. Vicki Been, a member of the board, pointed out, “Politicians may want a quicker deadline, but that would be impractical.” The board further emphasized that bids cannot be reviewed until all ‘entitlements and zoning’ are approved, making the current deadline outlined in the bill seem unreasonable. “The hope would be that our reasoning will be helpful to the governor,” Been added.
Several pivotal factors need to be addressed before any bids can be reviewed, including environmental impact studies and necessary zoning changes. Two high-profile proposals – Bally’s Bronx and Steve Cohen’s Queens project – require rezoning from their current parkland designations to accommodate casino facilities.
Eleven Proposals Vie for Prime Locations
There are 11 bidders competing to develop casinos in various prime locations, encompassing areas from Times Square to Brooklyn. The proposals not only include casino facilities but also resorts, housing units, and neighborhood improvements. This mix of commercial and tribal operators adds a layer of complexity to the bidding process.
The wide array of proposals includes:
- 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, and 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.
The facility location board has acknowledged the potential conflict between their decision and the stipulations of S9673A. During their meeting on Thursday, the board remained optimistic that obtaining bids by the new deadline in 2025 will not hamper the overarching goal of issuing licenses by the end of 2025.
The outcome of this ambitious plan 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. Addressing practical concerns like zoning requirements and environmental impact studies will be crucial to this transformation. As New York awaits Governor Hochul’s decision, the future of these projects hangs in a delicate balance, promising an era of significant change and development.