New York’s Gaming Board has laid its cards on the table and put forward Bally’s Bronx, Genting’s Resorts World and Steve Cohen’s Metropolitan Park to be the state’s first three fully licensed downstate casinos.
After three years of planning and campaigning there were just three projects left in play after MGM Resorts’ sudden withdrawal last month from a proposed development for Yonkers.
It was then up to the state’s Gaming Facility Location Board to decide whether the remaining three multibillion-dollar proposals met expectations before finalising its recommendations.
Approval for all three was voted through this week and it is now over to the New York State Gaming Commission to give a final yes or no before the end of the year.
New York’s Three Downstate Casinos
Three years of planning and campaigning saw 11 original contenders reduced to eight formal applications, which then led to several rounds of lobbying and promoting from leading industry figures with a sprinkling of celebrities such as rapper Jay-Z.
There were just four projects still in the game last month, each vying for one of three downstate licenses until MGM’s shock decision.
Yonkers Mayor Mike Spano did not hide his anger after MGM withdrew its plan to renovate the site of the existing Empire City Casino, calling it “nothing short of a betrayal.”
That has left three candidates awaiting final approval: Metropolitan Park at Citi Field, proposed by New York Mets owner Cohen along with Hard Rock International; Genting Group’s Resorts World New York City; and Bally’s Bronx Casino on the site of the former Donald Trump Links golf course.
Metropolitan Park at Willets Point near Citi Field, Queens, is the $8 billion baby of Mets owner Cohen in conjunction with Hard Rock International. The multi-acre resort will provide around 17,000 construction jobs and a need for 6,000 permanent staff once everything is up and running by June 2030. In addition to the casino there will be a hotel, a theatre, conference facilities and 25 acres of green space. This is in addition to the ongoing construction of Etihad Park, a $780 million stadium which will be home to Major League Soccer’s New York City FC.
Resorts World New York City, proposed by the Genting Group, will be sited at Rockaway Boulevard, Jamaica in Queens. This is likely to be the first of three projects to go live with table games available by the end of March 2026 as the infrastructure is already in place. The plan is to implement a $7.5 billion regeneration of the 72-acre site at Aqueduct Racetrack, making the existing racino a full casino with the addition of a 2,000-room hotel, a 7,000-seat arena and conference facilities. Genting recently revealed details of another ambitious project in the UK, having been granted planning permission to develop a new casino at London’s Trocadero.
Bally’s Bronx Casino is a $4 billion development to be built on the site of the former Donald Trump Links golf course at Ferry Point, Throggs Neck. Bally’s has stated this will create 4,000 permanent jobs, to staff 500,000 square feet of gambling facilities, a 500-room hotel and an event centre with a 2,000-seat capacity. There has been some adverse reaction to the revelation that Bally’s had already paid $60 million to the Trump Organization for the site and will have to pay a further $115 million ‘success’ fee if it is awarded a full license.
The New York State Gaming Commission has until December 31 to ratify the recommendations.
Bringing The Big Bucks To New York
The Gaming Board convened at the City University of New York’s Graduate Center to agree on its final recommendations.
Although there were some shouts of ‘shame’ from the room when it was announced that all three downstate projects were being recommended for approval, Board member Greg Reimers outlined the financial benefits to the state.
“Each proposal presents a strong competitive positioning based on brand strength, amenities, and facility design,” he said.
“Using conservative assumptions, the board’s consultants projected incremental annual gaming tax revenue of nearly $1 billion in 2036, totalling approximately $7 billion between 2027 and 2036, plus $1.5 billion in licensing fees.”
There will be an uptick in related revenues from the introduction of the new resorts.
“Additional state and local taxes, property, sales, hotel occupancy, and others are projected to generate approximately $5.9 billion,” Reimers added.
“Problem gambling programs are projected to receive approximately $10.7 million annually.
“No alternative scenarios produce comparable revenue or fiscal benefits.”
