As the countdown begins, all eyes are on New York City, where eight players are vying for three highly coveted casino licenses. This crucial decision will ultimately determine the landscape of commercial gambling in the city, with proposals shaped by years of planning and community feedback.
The stage is set after developers formally submitted their ambitious proposals. New York is poised to significantly expand its gambling scene, following voter approval for an expansion in 2013. The impending decision by a specially created state board is expected by December 1, 2023, ushering in a new era for neighborhoods like Times Square and Coney Island.
The growing interest in casino development has already sparked considerable controversy among local communities. For instance, residents of Coney Island and neighboring businesses have expressed strong opposition to the proposed developments, citing concerns about potential disruptions to the area’s character and economy.
Currently, a total of eight proposals have emerged, vying for approval from the Gaming Facility Location Board. Each proposal includes detailed plans that outline not only the gaming aspect but also developments that involve hotels, restaurants, and entertainment venues.
In Manhattan, several exciting projects are on the table.
The Avenir is proposed to be located at 11th Avenue and West 41st Street, aiming to transform the area next to the Javits Center into a vibrant complex with a casino, a 1,000-room hotel, and an array of entertainment options.
Key players behind this venture include Silverstein Properties, Rush Street Gaming, and Greenwood Gaming & Entertainment.
Meanwhile, Caesars Palace Times Square aims to capitalize on its high-profile location, situating itself at 1515 Broadway between West 44th and 45th streets. This proposal brings in star power, having partnered with Jay-Z’s Roc Nation to create a dynamic facility that blends luxury with gaming.
This establishment would see the conversion of an existing building into a new Caesars Palace, complete with a nightclub, 992-room hotel, three restaurants, and 150,000 square feet dedicated to gaming.
The partners behind this proposal include SL Green, Roc Nation, Live Nation, and Caesars Entertainment.
Another project, Freedom Plaza, plans to change the landscape of 686 First Avenue between East 38th and 41st streets. This venture would convert a formerly demolished power plant into a modern facility hosting a casino, hotel, park space, and a food hall.
The proponents of this ambitious project are the Soloviev Group, Mohegan, and Banyan Group.
The Bronx also joins the fray with Bally’s New York Casino at Ferry Point. This casino complex, positioned on the existing Bally’s golf course, plans to leverage its proximity to major highways, with extensive parking available for nearly 5,000 cars.
The casino itself would feature a 500-room hotel, a 2,000-seat event center, and half a million square feet of gaming space. Notably, if Bally’s succeeds in securing a casino license, it is anticipated that President Donald Trump will receive $115 million related to the previous ownership of the golf course.
Backing this ambitious project is Bally’s Corporation, which operates numerous casinos across the United States.
In Queens, two significant proposals are vying for attention. The Metropolitan Park project aims to develop a vast resort on 126th Street near Citi Field, complete with a casino, hotel, Hard Rock theater, conference space, retail outlets, and restaurants, as well as creating new park space.
This proposal is spearheaded by billionaire Steve Cohen, owner of the New York Mets, and Hard Rock International, who has already embarked on preparatory work to facilitate developments in the area.
Additionally, the existing Resorts World New York City, located at 110-00 Rockaway Blvd. in Jamaica, aims to enhance its operations by transforming its racino into a full-fledged casino. Their expansion plans include a 7,000-seat arena, a conference center, and a 2,000-room hotel, reinforcing their claim that they can quickly bring revenue to the state due to their established presence.
Behind this proposal is the Genting Group, a notable player in the hospitality and gaming sector, which has connections to prominent casinos in Connecticut and Niagara Falls.
In Brooklyn, The Coney project aims for a pivotal transformation in Coney Island, proposing to replace numerous smaller buildings with a large-scale casino complex. Spanning 1.4 million square feet, this development is expected to include a 500-room hotel, a 2,400-seat live theater, a convention center, retail and dining options, and much more.
This ambitious undertaking is being backed by Thor Equities, the Chickasaw Nation, Saratoga Casino Development, and Legends — the latter being partly owned by the New York Yankees.
Finally, Yonkers is represented by the MGM Empire City proposal, which seeks to revamp and expand the existing Empire City Casino and Yonkers Raceway. The planned enhancements involve new dining options, theater, meeting spaces, and an improved parking garage.
The driving force behind this project is MGM Resorts, known for its extensive portfolio in the gaming industry.
The push for new casinos in New York City is rooted in a decade-long effort that culminated in the 2013 voter-approved measure allowing for expanded gambling. This shift has opened the door for numerous commercial opportunities in the state, with lawmakers crafting a process for awarding three coveted licenses specifically for the downstate area.
As the proposals await evaluation, the future of these developments hinges on thorough reviews by the Gaming Facility Location Board, an entity responsible for conducting a vetting process and ultimately guiding the selection of recipients through a mini-vote and a final decision.
The timeline for this process dictates that by September 30, 2023, a six-person Community Advisory Committee will review the proposals and conduct a vote, while the full board is expected to make its conclusive decisions by December 1.
Each Community Advisory Committee will comprise members appointed by key local leaders, including the Governor, Mayor, and local state officials.
Once the committees cast their votes, the gaming board will finalize which projects will receive the licenses.
The appointed members of these committees represent diverse interests in the community and are charged with ensuring that local voices are considered in the decision-making process.
As the stakes remain high, successful bidders will need to be prepared for substantial financial obligations. Each awarded casino license will cost $500 million, alongside a commitment to invest a minimum of another $500 million in the surrounding area. This investment might include various community benefits ranging from supporting housing initiatives to enhancing public transit or green spaces.
Importantly, the anticipated revenue generated from these new gaming facilities is projected to be significant, potentially contributing to $5.5 billion in gross gambling revenue and $841 million annually in tax revenue.
Despite these initial projections, previous analyses of gaming expansions have revealed that the reality of gaming revenue can be less predictable than anticipated. Reports have indicated that while local governments benefited from some revenue influx, the actual numbers often fell short of earlier expectations.
With a careful eye on balancing community welfare alongside lucrative revenue opportunities, the testing times ahead will determine how these forthcoming casinos will reshape New York City and its surrounding areas.
image source from：thecity
