The landscape of downstate New York may soon undergo significant changes with the introduction of three new casino facilities. In a pivotal move, the New York State Gaming Facility Location Board has set a new bid deadline for these casinos to June 27, 2025. This decision, however, faces potential challenges from pending legislation.
Legislative Tug-of-War
A bill currently awaits Governor Kathy Hochul’s signature, which could significantly impact the timeline set by the Gaming Facility Location Board. This bill, with a deadline of August 31, 2024, overrides the board’s decision and requires bidders to submit their proposals much earlier. Authored by Senator Joe Addabbo, the bill, S9673A, has already passed through both the house and senate in early June.
The board members acknowledged the potential conflict between their decision and the stipulations of S9673A during their recent meeting. Vicki Been, a member of the Gaming Facility Location Board, noted, “Politicians may want a quicker deadline, but that would be impractical.” The board has voiced concerns regarding the ambitious timeline proposed by the bill, emphasizing that bids can't be reviewed until all ‘entitlements and zoning’ are approved. “The hope would be that our reasoning will be helpful to the governor,” Been added.
Hurdles in the Path
Environmental impact studies and necessary zoning changes are preconditions that must be met before any bid can be reviewed. In particular, the Bally’s Bronx proposal and Steve Cohen’s Queens proposal currently require rezoning from their parkland designations to accommodate casino facilities. These processes are often lengthy and complicated, adding additional layers of complexity to the bidding process.
A Competitive Arena
With 11 bidders competing to develop casinos in various prime locations, the competition is stiff. The bidders aim to introduce not just casino facilities but also resorts, housing units, and neighborhood improvements. Proposals include a mix of commercial and tribal operators, marking a diverse array of potential developments.
- 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.
Future Uncertainties
The outcome of this process could significantly reshape the entertainment and economic landscape of downstate New York. The introduction of gaming and broader development projects into some of the state's most iconic areas promises substantial changes. Despite the challenges, the board remains optimistic that obtaining bids by the new deadline will not hamper the overarching goal of issuing licenses by the end of 2025. “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable,” noted the Gaming Facility Location Board.
As the deadline approaches and the legislative and bureaucratic processes unfold, stakeholders and observers alike will be watching closely. The decisions made in the coming months will have enduring impacts on the region's landscape and economy, potentially marking the dawn of a new era in New York's storied history.