The landscape of downstate New York may soon undergo significant changes with the introduction of three new casino facilities. The New York State Gaming Facility Location Board has set a new bid deadline of June 27, 2025, sparking a swirl of activity and debate within the gambling and real estate communities.
Decisive Moves and Legislative Challenges
However, a bill currently awaiting Governor Kathy Hochul's signature could shift the sands dramatically. If signed, this legislation would override the facility location board's decision, requiring proposals to be submitted by August 31, 2024, a considerably tighter timeline.
Authored by Senator Joe Addabbo and known as S9673A, the bill made its way through both the House and Senate in early June. The proposed legislation aims to accelerate the process, a move the facility location board views with caution. "Politicians may want a quicker deadline, but that would be impractical," noted Vicki Been, echoing concerns around the feasibility of accelerating such a complex procedure.
Concerns About Practicality and Process
The crux of the board's argument lies in the preparatory steps essential for any bid's consideration. "Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable," the New York State Gaming Facility Location Board stated.
Several fundamental requirements—such as environmental impact studies and necessary zoning approvals—must be fulfilled before any review process can begin. Proposals like the Bally’s Bronx and Steve Cohen’s Queens projects need rezoning from their current parkland designations, which adds a layer of complexity to an already ambitious timeline.
Array of Proposals
The scene is set for intense competition, with 11 bidders vying to develop casinos in various prime locations, from Times Square to Brooklyn. These proposals are not limited to sprawling gambling floors but also include resorts, housing units, and neighborhood improvements, featuring a mix of commercial and tribal operators.
Here are some of the significant contenders:
- 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, 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 an operator to be determined, in Manhattan
- Wynn New York City: Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan
A Balancing Act
During their meeting on Thursday, board members recognized the potential conflict between their decision and the stipulations of S9673A. Despite the pressing timeline proposed by the bill, the board remains hopeful it will not impede the broader goal of issuing licenses by the end of 2025. "The hope would be that our reasoning will be helpful to the governor," Vicki Been added, signaling a desire for a balanced and practical approach.
The outcome of this legislative and procedural dance could reshape the entertainment and economic landscape of downstate New York significantly. The introduction of new casino facilities promises to bring both gaming and wider development projects into some of New York State's most iconic areas, offering a fresh chapter in the state's storied relationship with gambling and urban development.