The long journey to expand casino gambling in New York City is finally approaching its climax. After more than a decade since New York voters authorized casinos in the downstate region, the New York Gaming Facility Location Board is set to recommend licenses for the last three projects. This much-anticipated announcement will occur during a morning meeting at CUNY’s Graduate Center, signifying the most substantial alteration in New York’s casino landscape since the 2013 legislative amendment. This amendment allowed for up to seven casinos across the state. While the four upstate venues have been in operation for several years, the approvals for the New York City area faced numerous regulatory hurdles.
The forthcoming decision is expected to be straightforward, bringing a sigh of relief to many stakeholders. The state is poised to gain over $1.5 billion in licensing fees, eagerly sought by elected officials grappling with budget challenges. With board approval, it’s anticipated the state Gaming Commission will also back the recommendations at their end-of-December meeting. Governor Kathy Hochul has expressed her support, emphasizing the potential for job creation and economic growth. Out of the initial eight developers, Bally’s, Hard Rock, and Resorts World have emerged as front-runners, each with ambitious plans to transform the New York
Bally’s aims to introduce a bustling casino and hotel complex in the Bronx, a project anticipated to draw nine million visitors annually. Situated on the former Trump Golf Links at Ferry Point, the development will include a 500,000-square-foot casino, a high-end hotel with 500 rooms, a 2,000-seat show venue, and a variety of shops and restaurants. This extensive project is projected to generate nearly $400 million in tax revenue and create thousands of full-time jobs, potentially revitalizing the local economy and transforming the Bronx into a new entertainment hub.
Meanwhile, in Queens, Mets owner Steve Cohen and Hard Rock International have laid out their plans for the Metropolitan Park development beside Citi Field. Spanning over 50 acres, this substantial endeavor includes a 25-acre public park, a Hard Rock hotel and casino, and numerous other amenities. The consortium suggests that the project could channel over $1 billion in annual tax revenue and create more than 6,000 union jobs, promising a significant economic boost for the region.
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