Catching up on the NYC casino license race
The three casino projects that were recently rejected all received two votes in support and four votes against from their six-member CACs. The committees were formed specifically to review applicants that made it that far into the process after Gov. Kathy Hochul (D) announced years ago her intention to bring three downstate casinos to New York.
Although the process has been competitive, MGM Empire City and Resorts World NYC were always considered favorites to land two of the available licenses. That’s because the pair already operated racinos in the Big Apple, whereas the other groups were attempting to go from having nothing to a full-fledged casino facility.
New York Mets owner Steve Cohen’s proposal for a casino in Queens, known as Metropolitan Park, is still waiting on a vote from its CAC.
Bally’s is attempting to build a casino at its Golf Links property at Ferry Point. However, it is working to meet a series of requested amendments before it presents its final plans to the CAC, which must cast its vote before the end of the month.
A project by Thor Equities, Saratoga Casino Holdings, Legends, and the Chickasaw Nation’s Global Gaming Solutions in Coney Island, known as “The Coney,” is considered a longshot to receive approval when its CAC votes. That’s because of the strong community outcry against the proposal, which many believe would lower the quality of life and didn’t meet the needs of the community.
A foregone conclusion?
Although the Gaming Facility Location Board can only license three casinos, it may have its decision made by the CAC votes.
The Coney appears destined to meet the same fate as The Avenir, Freedom Plaza, and the Times Square project, due to the strong opposition from locals. Coney CAC Chair Justin Brannon and State Sen. Jessica Scarcella-Spanton (D-District 23) already said they will vote “No” when the time comes.
That sets up for Bally’s to be the only challenger to MGM Empire City, Resorts World, and Metropolitan Park. However, that is also problematic.
Bally’s was only allowed to progress to this point because it was saved by New York City Mayor Eric Adams.
Adams, who is expected to lose his reelection bid, vetoed a City Council zoning measure that would’ve left Bally’s plans dead in the water. He said that the gaming group deserved a chance to “compete” for a license that would potentially transform the local community and economy.
Chairman Soo Kim previously said that Bally’s had received pushback during the licensing process because of supposed ties to President Donald Trump. Bally’s purchased the lease to the property from The Trump Organization for $60 million in 2023, and it promised another $115 million if it was awarded a casino license for the land.
“They’re saying, ‘If Bally’s wins, Trump benefits.’ That’s crazy,” Kim said to the New York Post.
