The landscape of downstate New York may soon undergo significant transformation with the proposed introduction of three new casino facilities. The New York State Gaming Facility Location Board has set a new bid deadline for these ventures to June 27, 2025.
Legislative Tension
A critical bill awaiting Governor Kathy Hochul’s signature could upend the board’s timeline. This legislation, with a deadline of August 31, 2024, would require bidders to submit their proposals by the end of summer 2024, effectively superseding the facility location board's judgement.
Authored by Senator Joe Addabbo and known as S9673A, the bill passed both the house and senate in early June. However, the board has expressed significant concern regarding the aggressive timeline imposed by the bill. “Politicians may want a quicker deadline, but that would be impractical,” remarked Vicki Been, highlighting the board's reservations.
Challenges Ahead
One of the major hurdles for prospective bidders is obtaining approval for all ‘entitlements and zoning’ before a bid can be reviewed. This includes comprehensive environmental impact studies and necessary zoning changes, a process that can be both time-consuming and complex.
For example, the Bally’s Bronx proposal and Steve Cohen’s Queens proposal currently require rezoning from their parkland designations to accommodate casino facilities. With a total of 11 bidders vying for prime locations—from Times Square to Brooklyn—the pressure mounts to meet these prerequisites.
A Diverse Array of Proposals
The competition showcases a mix of commercial and tribal operators, with proposals extending beyond just casino facilities to include resorts, housing units, and neighborhood improvements. The array of bids includes:
- 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.
Anticipated Impact
The board members recognized the potential conflict between their decision and the stipulations of S9673A during their recent meeting. They maintain that obtaining bids by the newly set deadline will not impede 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 New York State Gaming Facility Location Board in their commentary. Vicki Been added, “The hope would be that our reasoning will be helpful to the governor.”
The outcome of this legislative and procedural dance could dramatically reshape the entertainment and economic landscape of downstate New York, ushering in gaming and broader development projects into some of the state’s most iconic areas. The stakes couldn’t be higher, not just for the bidders, but for the communities that stand to be transformed by these ambitious proposals.