NY Gaming Board votes to recommend all 3 NYC casino licenses
Gaming board votes to recommend 3 NYC casino licenses
New York State's Gaming Facility Location Board voted to recommend licenses for three casinos in New York City. FOX 5 NY's Linda Schmidt breaks it down.
NEW YORK - New York’s Gaming Facility Location Board made history this morning, voting to award all three remaining bidders full casino operating licenses — a sweeping decision that could bring billions in private investment to the region and reshape entertainment in Queens and the Bronx.
What we know:
The approvals mark the culmination of a process that began more than a decade ago with the 2013 New York Gaming Economic Development Act.
For the first time, full commercial casinos could be permitted in downstate New York.
Here’s what advanced:
SKIP TO: Steve Cohen's Hard Rock | South Ozone Park | Bally's Bronx
Steve Cohen’s Hard Rock Casino Proposal Near Citi Field
Steve Cohen signs Queens casino deal with city amid USTA lawsuit
Mets owner Steve Cohen's plan to bring a casino and entertainment complex, Metropolitan Park, to the Citi Field parking lot in Queens is moving forward once again after reaching an agreement with the city. However, the project is still facing a lawsuit brought by the U.S. Tennis Association (USTA).
Mets owner Steve Cohen, in partnership with Hard Rock, is seeking to build a casino and entertainment complex adjacent to Citi Field in Queens.
The project would include a casino gaming floor, a Hard Rock–branded hotel, a concert venue and additional public amenities designed to transform the surrounding Willets Point area.
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A community advisory board has approved the idea of opening a casino next to Citi Field in Queens.
Resorts World NYC Expansion in South Ozone Park
Resorts World, already operating a large video lottery terminal casino at Aqueduct Racetrack, is bidding to become a full-scale commercial casino.
That upgrade would allow the addition of table games like blackjack, poker and craps. The company has proposed a $5.5 billion expansion, including more gaming space, hotel rooms and entertainment offerings.
Bally’s Bronx Casino Proposal
Bally’s wants to build a casino on land next to the former Trump Golf Links at Ferry Point. The company has agreed to pay the Trump Organization $115 million for the site if its proposal is selected. Plans call for a full casino, hospitality space and a range of entertainment amenities.
Each bidder is required to pay a $500 million licensing fee and pledge at least $500 million in capital investments—a massive financial commitment intended to ensure long-term economic benefits for the city and state.
The decision caps a process that began with the 2013 New York Gaming Economic Development Act. Eleven bidders launched formal proposals; now only three remain. Queens Borough President Donovan Richards said over the weekend that he expects both Queens projects to advance, citing their financial and community advantages.
What's next:
However, today’s vote is not final.
The New York State Gaming Commission must review and formally approve any recommendations issued by the board. A final determination is expected by the end of this month.
The Source: This report is based on information from the New York Gaming Facility Location Board and FOX 5 NY's Robert Moses.