A proposed casino in New York City, which could yield a significant financial benefit for President Donald Trump, is progressing towards realization as Mayor Eric Adams facilitated City Council approval this Wednesday.
The casino, put forth by Rhode Island-based Bally’s, will be located in Ferry Point Park, a section of parkland in the Bronx. This project includes plans for a 500-room hotel, retail space, a 2,000-seat event center, and nearly 5,000 parking spaces, alongside a sprawling 500,000 square-foot gaming facility.
This Northeast Bronx casino requires both state and city approvals for its ‘parkland alienation,’ which involves changing the designation of the land from park to allow for this development to proceed. Following a decisive 32-12 vote by the City Council, Bally’s now needs to secure the backing of state legislatures.
The decision has raised concerns among local representatives, particularly with the contentious nature of recent rezonings in the Bronx neighborhood. While Council member Kristy Marmorato voiced her opposition, only one other Bronx representative, Pierina Sanchez, supported the proposal, leading to seven abstentions from fellow council members.
The casino venture includes a golf course that Bally’s acquired from Trump in 2023. If Bally’s successfully obtains one of the three downstate casino licenses expected to be issued by the state this year, it could trigger a payout of $115 million to the president’s family business, as reported by The New York Times.
Before the Wednesday vote, Mayor Eric Adams expressed his support for the casino initiative, suggesting that the proposal needed a simple majority of 26 votes rather than a two-thirds majority to pass, according to The City.
Adams is advocating for multiple competitive bids across all five boroughs, emphasizing that he is not endorsing any singular proposal at this stage.
William Fowler, a spokesperson for the mayor, stated, “It does not matter which proposal is selected by the state so long as it’s in New York City.
We would be supportive of more than one selection in New York City, but that requires more than one competitive proposal.”
The legislative bill concerning this proposal is still undergoing review within the Assembly committee and currently lacks a set calendar date for hearings in either the Assembly or the Senate.
Applications to the state’s Gaming Commission must be submitted by the end of this month, although developers are given until September 30 to resolve any land disputes prior to that date.
The state has three downstate casino licenses available, although it is widely anticipated that two of these will likely go to the existing Resorts World and Empire City racinos.
In a prior move, state lawmakers approved parkland alienation for Steve Cohen’s casino proposal close to Citi Field at the end of May, despite opposition from local state Senator Jessica Ramos.
Cohen’s project involves an $8 billion casino initiative, which features a live music venue, a food hall focused on Queens cuisine, and a partnership with Slate Property Group to introduce affordable housing in the area.
Other notable competitors in the ongoing bidding process include the Soloviev Group’s $10 billion casino proposal near the United Nations Plaza, which also encompasses plans for affordable housing and a museum.
Thor Equities has put forth a project for Coney Island that proposes a 92,000 square-foot convention center and a live music venue.
Furthermore, Silverstein Properties has introduced its bid, proposing a mixed-use complex with 46 stories at 11th Avenue and West 46th Street in collaboration with Rush Gaming.
In addition to these options, SL Green is advancing its casino initiative within Times Square, facing opposition from local groups and lawmakers who are against the project.
However, some proposals have already been withdrawn as the deadline looms closer.
In April, Saks Fifth Avenue declared its intention to abandon plans for a casino atop its Midtown store, as the company shifts focus to other strategic priorities, according to Crain’s New York Business.
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