Officials dragging their feet?
Addabbo, the head of a Senate racing, gaming and wagering committee, said the gaming board needs to accelerate its evaluation of the candidates.
The GFLB was tasked with submitting a final review of applicants to determine which casino bids were approved for operator’s licenses. However, that process became simplified when only four projects were left standing following a series of Community Advisory Committee votes.
The field was whittled down one further when MGM this week withdrew its application, citing a shift in economic forecasts, as well as their expectation of receiving a 15-year operator’s license as opposed to the 30-year license they had hoped for.
“I don’t see why the state wouldn’t award the last three licenses to the last three applicants,” Addabbo said.
According to the Senator, holding up the licensing process will delay public improvements, such as the creation of construction and permanent jobs, gaming tax generation, and general economic stimulus in the surrounding areas of the casinos.
Why the rush?
Addabbo’s desire to speed up the licensing process shouldn’t come as a surprise. He is an advocate of legalized online poker and online casinos, and the land-based casino licensing process represents a major step towards the expansion of gambling in the Big Apple.
iGaming negotiations have been slow. Casino unions have been a roadblock for Addabbo’s legislative efforts, and the unions said they wouldn’t negotiate without Gov. Hochul—however, she said her priority was to finish the licensing review process.
“The bottom line is this, the downstate license process has been a picture of inefficiency,” Addabbo said in an interview with City & State New York. “We voted to expedite the three licenses in 2022 to see some action in 2023, and here we are talking about possibly June 2025 for the application to start and for the decision to be made by the end of the year. That’s a picture of inefficiency. We did the four upstate casinos in a fraction of a time.”
The three projects awaiting a decision on their future are Bally’s Bronx, Resorts World NYC, and Metropolitan Park.
Bally’s would build a casino on its Ferry Links property, which the company acquired the lease to from The Trump Organization for $60 million. Bally’s would owe The Organization another $115 million if it received a license.
Resorts World NYC in Jamaica, Queens, was always considered a frontrunner to receive approval because of its existing racino.
Metropolitan Park, headed by Hard Rock and New York Mets owner Steve Cohen, would use parking lot space to erect a gaming facility in Queens.
