The landscape of downstate New York could soon see a dramatic transformation with the planned introduction of three new casino facilities. The New York State Gaming Facility Location Board has set a bid deadline for June 27, 2025, marking a significant step in this development.
The Legislative Tug of War
Currently awaiting Governor Kathy Hochul's signature is a bill that proposes a different deadline: August 31, 2024. If signed, this legislation would override the facility location board's decision, requiring bidders to submit their proposals by the end of summer 2024. The bill, known as S9673A and authored by Senator Joe Addabbo, passed through both the house and senate in early June.
This has sparked concerns within the facility location board, who argue that the new timeline is overly ambitious. “Politicians may want a quicker deadline, but that would be impractical,” stated Vicki Been, expressing the board's reservations.
Environmental and Zoning Challenges
Further complicating the matter are preconditions that must be met before any bids can be reviewed. These include the completion of environmental impact studies and necessary zoning changes. “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable,” emphasized the New York State Gaming Facility Location Board.
For instance, the Bally’s Bronx proposal and Steve Cohen’s Queens proposal both require rezoning from their current parkland designations to accommodate casino facilities. These zoning changes and impact studies are not quick processes, adding to the complexity of adhering to the shortened timeline.
Competitive Landscape
Despite these hurdles, there is no shortage of interest. There are 11 bidders vying to develop casinos in prime locations, from Times Square to Brooklyn. The competition is fierce and varied, featuring both commercial and tribal operators with a vision for not just casino facilities but also resorts, housing units, and neighborhood improvements.
- 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.
Looking Ahead
The members of the facility location board are well aware of the potential conflict between their decision and the stipulations of S9673A. During a recent meeting, the board expressed optimism that obtaining bids by the new deadline would not derail the overarching goal of issuing licenses by the end of 2025. “The hope would be that our reasoning will be helpful to the governor,” added Vicki Been.
The outcome of this process could profoundly reshape the entertainment and economic landscape of downstate New York. These projects promise to bring not only gaming but broader development projects into some of the state’s most iconic areas, potentially ushering in a new era of growth and renewal.
As the clock ticks toward the pivotal deadlines, stakeholders across the board brace for the significant changes and challenging negotiations that lie ahead. As with any major development, the balancing act between ambition and practicality will be crucial in deciding the future of these casino facilities.