The landscape of downstate New York may soon undergo significant transformations with the introduction of three new casino facilities. The New York State Gaming Facility Location Board has set a new bid deadline for these casinos to June 27, 2025. However, the path to establishing these potential gaming hotspots is anything but straightforward.
A Crucial Decision
Currently awaiting Governor Kathy Hochul’s signature is a bill with an August 31, 2024 deadline, a mandate that could override the facility location board’s recent decision. Authored by Senator Joe Addabbo, the bill known as S9673A had already passed through both the house and senate in early June. Should it become law, it would require bidders to submit their proposals by the end of summer 2024, a timeline that is notably more ambitious than that set by the location board.
The board has not been shy about expressing its concerns regarding this accelerated schedule. “Politicians may want a quicker deadline, but that would be impractical,” commented board member Vicki Been, highlighting the logistical and procedural complexities involved.
Challenges Ahead
The board's concerns are grounded in the realities of the bidding process. "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. Environmental impact studies and necessary zoning changes are essential prerequisites that need to be met before any bid can even be considered. Examples of these hurdles include the Bally’s Bronx proposal and Steve Cohen’s Queens proposal, both of which require rezoning from their parkland designations to accommodate casino facilities.
There are currently 11 bidders vying to develop casinos in various prime locations ranging from Times Square to Brooklyn. These proposals include a blend of casino facilities, resorts, housing units, and neighborhood improvements, involving both commercial and tribal operators. The prospective sites and collaborators are a mix of big names in the gaming and real estate worlds.
A Competitive Bidding Landscape
Some of the notable proposals include:
- 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.
Optimism and Concerns
Despite the complexities and potential conflicts, the board remains optimistic about meeting the new deadline. "The hope would be that our reasoning will be helpful to the governor," Vicki Been added, suggesting that the logistical concerns might ultimately guide the final decision.
The ambition behind these proposals is clear: to reshape the entertainment and economic landscape of downstate New York, bringing expansive gaming and development projects to some of the state's most iconic areas. The outcome of this bidding process holds the potential to not only transform the immediate environments of these proposed casino sites but also to significantly influence the broader economic and social dynamics of the region.
As the deadline approaches, stakeholders and New Yorkers alike will be watching closely to see how this high-stakes game unfolds. With the possibility of a revised deadline on the horizon, the eyes of New York are firmly fixed on Albany, awaiting Governor Hochul’s next move. The decision could very well set the stage for a new era in New York’s gaming landscape.