The New York State Gaming Facility Location Board unanimously approved casino licenses on Monday for all three remaining bids.
Clearing a major hurdle for projects totaling more than $17 billion that promise to transform the Bronx and Queens into gambling and entertainment destinations after years of fierce competition.
The 5-0 vote at the CUNY Graduate Center in Manhattan represented the culmination of a process that began with a 2013 voter referendum and whittled down 11 initial bidders to three finalists. Board chair Vicki Been said the board determined that advancing all three projects “best advances the state’s long-term economic, fiscal and community objectives”.
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Three Projects Advance
The approved proposals include Mets owner Steve Cohen’s $8 billion Metropolitan Park project with Hard Rock International adjacent to Citi Field in Queens, featuring 5,000 slot machines and 375 table games. Genting Group’s $5.5 billion expansion of Resorts World New York City at Aqueduct Racetrack would transform the existing slots parlor into a full casino with 6,000 slot machines and 800 table games. Bally’s $4 billion Bronx casino at Ferry Point golf course would include 3,500 slot machines and 250 table games.
Each successful bidder must pay a $500 million upfront license fee, generating $1.5 billion for the Metropolitan Transportation Authority, which has already incorporated the revenue into its 2026 operating budget. The projects are expected to create tens of thousands of jobs and generate billions in tax revenue.
Final Approval Ahead
The Gaming Facility Location Board’s recommendations now advance to the New York State Gaming Commission, which is expected to issue final licenses by December 31. Gov. Kathy Hochul said in a statement that the three projects “promise to unlock billions in funding for the MTA and create tens of thousands of jobs,” adding, “It is critical that they keep those promises”.
The process eliminated high-profile Manhattan proposals, including a Jay-Z-backed Caesars Palace in Times Square, after community advisory committees rejected them due to local opposition. MGM Empire City in Yonkers also withdrew from the competition in October.
The Bally’s approval includes a controversial provision requiring the company to pay the Trump Organization $115 million as part of its 2023 acquisition of the Ferry Point property.
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