Standing down
The New York Gaming Facility Location Board will award three casino operators’ licenses to a selection of bidders by the end of the year. The race for licenses started years ago when Gov. Kathy Hochul (D) announced her intent to award the licenses amid the national boom in sports betting and gambling popularity.
While a massive field of would-be licensees showed initial interest, only eight are still alive. That included three in Manhattan, two in Queens, one in Brooklyn, one in the Bronx, and one in Westchester County.
Casino leadership groups include Hard Rock, Caesars Entertainment, Jay-Z’s Roc Nation, New York Mets owner Steve Cohen, the World Trade Center designer, and other high-profile individuals and businesses.
While the New York mayoral election will happen in November, a month before the casino licensees are announced, Mamdani has promised to take action against the new gambling dens.
“I’ve been open about my personal skepticism, and yet I also know this is the law,” Mamdani said this week about the forthcoming casinos. “The siting and the choices of which casinos will open, that pertains to the state.”
Missed the window
If Mamdani wins the mayoral election, he won’t take office until Jan. 1, 2026, after the licensees are confirmed. That’s significant since a representative of the mayor is on a six-person Community Advisory Committee (CAC) from which each of the casino groups must receive approval before their application can be given final consideration.
Each CAC will require a majority vote, meaning at least four of six members, to advance the application to the Gaming Facility Location Board. Votes will be held on Sept. 30.
Mamdani joined the Assembly in Jan. 2021, well after the 2013 decision to approve up to seven casino properties, including four upstate licenses with a 10-year window before downstate casinos could be licensed.
Prediction platform Kalshi gives the Democratic nominee an 83 percent chance to win the election over incumbent Mayor Eric Adams and independent Andrew Cuomo.
State Sen. Brad Hoylman-Sigal (D-25th District) recently said that Cohen’s Citi Field casino proposal in Queens has a “very good shot” of receiving a license.
Analysts in the gaming industry also believe that MGM’s Empire City and Genting’s Resorts World New York City are in strong positions since they also operate racinos.