The landscape of downstate New York may soon undergo significant changes with the introduction of three new casino facilities. As the New York State Gaming Facility Location Board has set a new bid deadline for these casinos to June 27, 2025, stakeholders in the region are closely watching developments that could reshape the entertainment and economic fabric of the area.
A bill with a deadline of August 31, 2024, now sits on Governor Kathy Hochul’s desk, awaiting her signature. Should she sign it, this legislation would override the facility location board’s decision, mandating that bidders submit their proposals by the end of summer 2024. Authored by Senator Joe Addabbo, the bill, known as S9673A, had previously passed through both the house and senate in early June.
A Race Against Time
The facility location board has raised concerns about the ambitious new timeline. “Politicians may want a quicker deadline, but that would be impractical,” states Vicki Been, reflecting the board's view. The current deadline, according to the board, is seen as unreasonable because bids cannot be reviewed until all ‘entitlements and zoning’ are approved.
Environmental impact studies and necessary zoning changes are preconditions that must be met before any bid can be reviewed. Projects like the Bally’s Bronx proposal and Steve Cohen’s Queens proposal currently require rezoning from their parkland designations to accommodate casino facilities. These steps are crucial for ensuring the viability and compliance of the proposed developments.
High Stakes Bidding
Eleven bidders are vying for the opportunity to develop casinos in prime locations ranging from Times Square to Brooklyn. Each proposal not only features casino facilities but also includes plans for resorts, housing units, and neighborhood improvements. The competition is fierce, featuring a mix of commercial and tribal operators, all aiming to leave their mark on one of the state's most iconic areas.
Among the compelling bids are:
- 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.
Board members recognized the potential conflict between their decision and the stipulations of S9673A during their latest meeting. Despite the challenges posed by the ambitious deadline, the board remains optimistic. They believe obtaining bids by the new deadline will not hamper the overarching goal of issuing licenses by the end of 2025.
Anticipating Transformation
The outcome of this bidding war holds the promise of reshaping the entertainment and economic landscape of downstate New York. The introduction of these gaming facilities, paired with broader development projects, could infuse new life and energy into some of the state's most iconic areas. Each proposal is a potential game-changer, promising to bring not just casinos, but comprehensive enhancements that will benefit the community at large.
“Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable,” reiterated the New York State Gaming Facility Location Board. They hope their concerns will be helpful to Governor Hochul as she deliberates the decision. “The hope would be that our reasoning will be helpful to the governor,” added Vicki Been.
As the stakeholders await the Governor's decision, the anticipation builds. The proposed developments are more than just casino projects; they represent a future vision for a more vibrant and economically robust downstate New York. With so much on the line, the excitement and tension are palpable as all eyes turn to Governor Hochul’s next move.