The landscape of downstate New York is on the brink of a monumental transformation as the New York State Gaming Facility Location Board has set the stage for the introduction of three new casino facilities. The board, in a pivotal move, has decided on a bid deadline of June 27, 2025, for these prospective casinos.
A Legislative Tug-of-War
The situation is further complicated by a bill currently awaiting the signature of Governor Kathy Hochul. This piece of legislation, with a deadline set for August 31, 2024, aims to override the board’s timeline and expedite the proposals submission process to the end of summer 2024. Authored by Senator Joe Addabbo, the bill S9673A had already seen success in passing through both the house and senate in early June.
However, the New York State Gaming Facility Location Board has expressed concerns over this accelerated timeline. "Politicians may want a quicker deadline, but that would be impractical," said Vicki Been, reflecting the board’s reservations.
Preparation and Obstacles
One of the major hurdles cited by the board is the requirement that bids cannot be reviewed until all ‘entitlements and zoning’ are approved. This includes extensive environmental impact studies and necessary zoning changes, which are essential preconditions for any bid evaluation. For instance, the Bally’s Bronx and Steve Cohen’s Queens proposals necessitate rezoning from their current parkland designations to fit casino facilities within their domains.
The board’s stance is further emphasized by Been's statement: “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable.”
A Competitive Field
Currently, there are 11 bidders vying to establish casinos in some of New York’s most coveted locales, ranging from Times Square to Brooklyn. These proposals are not limited to casino establishments but also incorporate resorts, housing units, and neighborhood improvements, showcasing a blend of commercial and tribal operators.
The array of proposals includes:
- Avenir: Silverstein Properties and Greenwood Gaming in Manhattan.
- Bally’s Links at Ferry Point: Bally’s Corporation in The Bronx.
- Caesars Palace Times Square: Caesars Entertainment, SL Green, and Roc Nation in Manhattan.
- Coney Project: Thor Equities, Legends Entertainment, the Chickasaw Nation, Saratoga Casino Holdings in Brooklyn.
- Freedom Plaza: Soloviev Group and Mohegan Gaming in Manhattan.
- Metropolitan Park: Steven Cohen and Hard Rock International in Queens.
- MGM Empire City: MGM Resorts International in Yonkers.
- Resorts World New York City: Genting Group in Queens.
- Sands New York: Las Vegas Sands in Nassau County, Long Island.
- Saks Fifth Avenue: Hudson’s Bay Company, with the operator to be determined, in Manhattan.
- Wynn New York City: Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan.
Navigating Challenges
Despite the challenges and differences in timelines, the Gaming Facility Location Board remains optimistic. The members acknowledged the potential conflict between their deadline and the stipulations of S9673A during a recent meeting. They are hopeful that obtaining bids by their set deadline will not obstruct the larger objective of issuing licenses by the close of 2025.
“The hope would be that our reasoning will be helpful to the governor,” Been added, encapsulating the board's strategy and considerations.
The successful implementation of these casino projects has the potential to reshape the entertainment and economic landscape of downstate New York significantly. From driving tourism to creating jobs, these developments aim to bring substantial growth and revitalization to some of the state's most iconic areas.
While the board navigates the intricate dance of entitlements, zoning, and legislative timelines, the anticipation builds. The outcome will undoubtedly forge a new chapter in New York’s storied history of urban development and entertainment.