New York’s long-running course of to decide who will obtain the extremely anticipated downstate on line casino licenses is about to attain its conclusion. After years of competing pitches, shifting political dynamics, and a area as soon as filled with greater than a dozen hopefuls, solely three bids stay. The state’s Gaming Facility Location Board will meet on Monday to announce which proposals, if any, will be granted the coveted licenses.
Evaluation Process Reaches Its Final Stage
The five-member board will convene at 10 a.m. on the CUNY Graduate Center’s Proshansky Auditorium to unveil its selections. While the legislation authorizes up to three licenses throughout New York City, Long Island, and Westchester County, the board shouldn’t be obligated to award all — or any — of them. Still, the evaluate standards closely emphasize financial exercise and enterprise growth, which account for 70% of every rating. The remaining components embrace native impression, workforce growth, and variety planning, every weighted at 10%.
Once the board declares its alternatives, the New York State Gaming Commission will take over the ultimate licensing step. The fee will confirm that chosen candidates meet the required monetary and moral requirements earlier than issuing formal approval. If all three licenses transfer ahead, every operator will owe a $500 million price to the state.
The aggressive panorama has tightened considerably. Several high-profile proposals had been eradicated earlier within the course of after failing to achieve assist from their native Community Advisory Committees. Others, together with MGM Empire City, withdrew regardless of reaching the later phases, citing unfavorable financial situations. What stays is a trio of main contenders backed by outstanding corporations and buyers.
According to Spectrum News NY1, Resorts World New York City, already working a large video lottery terminal venue at Aqueduct Racetrack, is proposing a $5.5 billion enlargement to convert its Queens property right into a full on line casino with desk video games. Its mum or dad firm, Genting, additionally provided a $600 million upfront licensing fee — an quantity that exceeds the fundamental statutory price.
Meanwhile, at Willets Point, New York Mets proprietor Steve Cohen and Hard Rock have partnered on an $8 billion imaginative and prescient labeled Metropolitan Park. Their plan would reshape the world surrounding Citi Field right into a resort vacation spot that includes gaming, hospitality, a meals corridor, and vital public house investments.
The third proposal comes from Bally’s, which goals to remodel a website close to the Ferry Point golf course within the Bronx right into a $4 billion on line casino advanced. Their bid features a monetary association underneath which The Trump Organization would obtain $115 million, a situation tied to Bally’s 2023 acquisition of the golf course lease.
Revenue Expectations and Public Considerations
Each of the remaining proposals presents sizable tax projections. Resorts World leads with a projection of $1.7 billion yearly, supported by increased tax price commitments on slot and desk recreation income. The Metropolitan Park proposal expects to contribute $850 million every year, whereas Bally’s estimates round $350 million.
These figures matter not just for state planning but additionally for the Metropolitan Transportation Authority. The MTA’s 2026–2029 price range already anticipates $1.5 billion in license funds, assuming all three licenses are issued. That expectation has led some stakeholders to imagine the board will really feel compelled to approve the utmost quantity.
Board members—Vicki Been, Greg Reimers, Marion Phillips III, Cindy Estrada, and Terryl Brown—just lately toured all three websites as they finalized their evaluations. Their go to marks the ultimate step in a range course of that started after a statewide referendum in 2013 approved on line casino enlargement, with the downstate market delayed by a decade-long moratorium later adjusted within the 2022 state price range.
The finish of this extended and contentious competitors is now in sight. By Monday, New York will know whether or not it’s transferring ahead with one, two, three, or not one of the downstate on line casino initiatives which have dominated native debate and lobbying efforts for years.
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