New York Casino Groups Submit Supplemental Applications following MGM’s Withdrawal

The three remaining New York city casino bidding groups submitted supplemental applications to the state’s Gaming Facility Location Board (GFLB) on Wednesday, Oct. 15.

The materials had been due to the state in the middle of the month, coincidentally, one day after MGM Resorts decided to pull the plug on its bid for MGM Yonkers, an expansion of an existing racino. Supplemental applications contain additional information on the casino proposals, such as finances, community plans, and revenues projections.

The applications are part of the GFLB’s review, which will determine the fate of up to three casino operator’s licenses.

Resorts World

Resorts World New York City, headed by Malaysia-based Genting Group, revealed that its plan would cost a total of $7.5 billion. Genting, like MGM, has a downstate racino.

The supplemental application estimated the casino would generate nearly $19 billion in state and local tax revenue over the next decade. It also projected that approximately 100,000 new jobs would be created directly and indirectly as a result of the casino.

Genting also allocated $600 million for a one-time licensing fee, despite the state outlining a $500 million cost.

Since Genting already has its racino, it estimated that it could complete the first phase of the casino’s development by June 2026, meaning that it would be the first of the three projects to become operational.

Bally’s Bronx

Bally’s is planning to construct a $4 billion facility at its Golf Links at Ferry Point location.

Unlike Resorts World, Bally’s did not publicly release any details regarding its revenue or tax expectations. Public filings indicate that Bally’s provided updated briefs on zoning and land-use deals, a variety of economic studies, plans for workforce and diversity, community impact, environmental obligations and commitments, transportation details, and more.

Despite the mystery surrounding the numbers, at least one figure is known.

Bally purchased the lease to the Ferry Point property from The Trump Organization with the promise that it would owe $115 million to the Organization if it was approved for a casino operator’s license. 

Metropolitan Park

New York Mets owner Steve Cohen and Hard Rock International are behind Metropolitan Park, an $8 billion plan to build a casino near the Mets’ Citi Field through the use of public parking space.

The casino’s leadership submitted filings on capital investments, zoning and land-use plans, local impact mitigation, workforce effects, and more. It also outlines plans for transportation upgrades, community impacts, financial projections, and more.

The project has already done the most work as far as achieving land-use approval of all applications. It also pledged to add public parkland as part of its plans for the casino.