The landscape of downstate New York stands on the brink of transformation, as three new casino facilities are set to be introduced. A pivotal moment came when the New York State Gaming Facility Location Board set a fresh bid deadline for these casinos to June 27, 2025.
However, there's a twist in this tale. A bill currently awaits Governor Kathy Hochul’s signature, placing an alternative deadline of August 31, 2024. Should she sign it, this legislation would override the Location Board's decision, pushing bidders to submit their proposals by the end of next summer. The bill, known as S9673A and authored by Senator Joe Addabbo, had previously sailed through both the House and Senate in early June.
Conflicting Timelines
The facility location board has not shied away from expressing its concerns about the accelerated timeline dictated by the bill. “Politicians may want a quicker deadline, but that would be impractical,” remarked Vicki Been, a board member. The fundamental bottleneck lies in the approval process, which hinges on the completion of all ‘entitlements and zoning’ before any bids can even be reviewed.
This entails a thorough environmental impact study and necessary zoning changes, preconditions that could delay proceedings. The Bally’s Bronx proposal and Steve Cohen’s Queens proposal, for example, currently require rezoning from their parkland designations to facilitate casino facilities.
High Stakes Competition
With 11 bidders competing to develop casinos across some of New York’s prime locations, from Times Square to Brooklyn, the competition is fierce. Each proposal goes beyond mere gaming facilities, incorporating resorts, housing units, and neighborhood improvements into their grand designs. Commercial and tribal operators alike are in the fray, presenting a diverse mix of visions for the future of gaming in New York.
Here’s a breakdown of the current proposals:
- 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.
Balancing Ambition with Practicality
The New York State Gaming Facility Location Board remains optimistic about adhering to the new deadline without jeopardizing the ultimate goal of issuing licenses by the end of 2025. Yet, they acknowledge the potential conflict between their decision and the stipulations of S9673A. “The hope would be that our reasoning will be helpful to the governor,” added Vicki Been.
The implications of this decision could significantly reshape the entertainment and economic landscape of downstate New York. Successful casino bids not only promise to enhance gaming opportunities but also catalyze broader development projects in some of the state’s most iconic regions. As the clock ticks, all eyes will be on Governor Hochul’s decision and the unfolding drama of casino development in one of the world's most dynamic urban environments.