The buzz around New York's future casino landscape has hit newfound heights. The New York State Gaming Facility Location Board recently set an ambitious bid deadline of June 27, 2025, for the planned addition of three new casino facilities in downstate New York. However, an impending bill could drastically alter this timeline. Should Governor Kathy Hochul sign the bill, authored by Senator Joe Addabbo and identified as S9673A, the deadline for submissions would be advanced to August 31, 2024.
In early June, both the House and Senate passed the bill, signaling bipartisan support for an expedited process. However, the facility location board expressed serious concerns about this shortened timeframe, questioning its feasibility. According to the board, “Politicians may want a quicker deadline, but that would be impractical.”
Environmental and Zoning Hurdles
A major point of contention involves the prerequisite approvals for entitlements and zoning. Bids cannot even be reviewed until these have been met. The board stated, “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable.” This procedural bottleneck adds another layer of complexity to an already intricate process.
Environmental impact studies and requisite zoning changes are critical preconditions. Two prominent proposals, the Bally’s Bronx and Steve Cohen’s Queens projects, need to undergo rezoning from their parkland designations to qualify for casino development. These steps could significantly delay the bidding process, casting further doubt on the expedited timeline proposed by the bill.
Competing for Prime Locations
Meanwhile, the sheer variety and scope of the proposals underscore the high stakes involved. From Times Square to Brooklyn, eleven bids are vying for prime locations. Proposals include not only casino facilities but also resorts, housing units, and neighborhood improvements, potentially reshaping the landscape of downstate New York.
Top contenders include:
- Avenir: Silverstein Properties and Greenwood Gaming aim to set up shop in Manhattan.
- Bally’s Links at Ferry Point: Bally’s Corporation has its eyes on The Bronx.
- Caesars Palace Times Square: A collaborative effort from Caesars Entertainment, SL Green, and Roc Nation targets Manhattan.
- Coney Project: Thor Equities, Legends Entertainment, the Chickasaw Nation, and Saratoga Casino Holdings propose a Brooklyn location.
- Freedom Plaza: Soloviev Group and Mohegan Gaming are making a Manhattan bid.
- Metropolitan Park: Steven Cohen and Hard Rock International focus on Queens.
- MGM Empire City: MGM Resorts International looks to Yonkers.
- Resorts World New York City: Genting Group proposes a facility in Queens.
- Sands New York: Las Vegas Sands targets Nassau County, Long Island.
- Saks Fifth Avenue: Hudson’s Bay Company looks to Manhattan, with the operator yet to be determined.
- Wynn New York City: Related Companies, Oxford Properties Group, and Wynn Resorts aim for Manhattan.
Facing the Timeline Challenge
The board acknowledged the potential conflict between their decision and the bill during a meeting. They remain optimistic that maintaining the June 2025 deadline wouldn't hinder the overall goal of issuing casino licenses by the end of that year.
“The hope would be that our reasoning will be helpful to the governor,” remarked Vicki Been, encapsulating the board's cautious optimism. Yet, the overarching sentiment remains one of concern over whether the proposed expedited timeline allows for the thorough reviews and approvals these significant projects necessitate.
The change promises to reshape not only the gaming industry but also the broader economic and entertainment ecosystems of downstate New York. From the iconic streets of Manhattan to the bustling boroughs of Brooklyn and Queens, these proposals are poised to bring about transformative developments in some of the state’s most well-known areas.
As the governor’s decision looms, stakeholders from various sectors await the outcome that could determine the future of casino development in New York and the potential economic windfall it could bring.