The debate over the future of gaming in New York City reaches a critical point today as the New York Gaming Facility Location Board is set to vote on the awarding of three highly coveted casino licenses. The board's decisions will determine whether Bally's, Hard Rock, and Resorts World will be able to solidify their stakes in the Bronx and Queens. The meeting, open to public attendance, takes place at the CUNY Graduate Center, with a livestream option available for those who cannot attend in person, according to ABC7NY.
Queens looks like it could be the biggest winner if both its casino bids pass the board's scrutiny. Queens Borough President Donovan Richards confidently stepped into the spotlight, saying "I feel bullish. Bet on Queens," in a statement obtained by The New York Post. Bally's pitches its plan on a former Trump-owned golf course in the Bronx, while major players Hard Rock and Genting aim to develop near Citi Field and at Aqueduct Racetrack, respectively.
The potential economic impact of these developments has caught the attention of many, including elected officials from the Bronx Democratic Party who stand behind the Bally’s proposal. Soo Kim, Bally's chairman, told The New York Post his outlook on being granted the license "looks pretty good," after Bally’s acquired the golf course in 2023 and renamed it Bally's Golf Links at Ferry Point. Meanwhile, Richards has touted the projected $8 billion Cohen-Hard Rock Metropolitan Park casino complex and the $7.5 billion expansion of Resorts World as projects that would transform Queens into a "global entertainment hub."
The board’s decision will be based on a variety of criteria, including economic activity, business development, location site impact, and the proposals’ commitment to workforce enhancement and diversity framework. Each casino operator will need to pony up a $500 million license fee alongside a commitment to invest at least an additional $500 million in their respective projects. Notably, some of the proceeds from the new operators will support mass transit systems, a benefit touted by proponents of the expansions. Despite opposition from neighborhood groups, particularly to the Bally's project in the Bronx, the financial benefits could sway the board, particularly with Albany insiders suggesting the revenue could lead to all three licenses being awarded, as per insights gathered by The New York Post.
The state’s gaming commission will have the ultimate say, either ratifying or rejecting the Gaming Facility Location Board's decisions by the end of the year. With a pool that once boasted 11 bidders now whittled down to three, today’s vote is pivotal for the contenders and their high-stakes plans for New York City's gaming future.
