The state Gaming Facility Location Board made its final decision in the race for three coveted downstate casino licenses Monday, recommending Genting\u2019s Resorts World New York City and Mets owner Steve Cohen\u2019s Metropolitan Park, both in Queens, and Bally\u2019s Corp.\u2019s proposal in the Bronx.<\/p>\n
Just a few months ago, when many more applicants were still in the running, Monday\u2019s decision may have felt much more suspenseful. But with only three remaining projects being considered and up to three licenses available, the question was more about whether the state would award all three. And even that was not a terribly large question mark.<\/p>\n
The board cited the economic benefits of approving all three casinos, projecting that the completed projects would bring in close to $7 billion in gambling tax revenue between 2027 and 2036. That\u2019s on top of the $1.5 billion in total one-time licensing fees that the three casino developers will pay, as well as an additional $5.9 billion in other state and local taxes. \u201cNo alternative scenarios produce comparable revenue or fiscal benefits,\u201d said board member Greg Reimers.<\/p>\n
Speaking to reporters after the meeting, board Chair Vicki Been dismissed concerns that advancing all three projects would cannibalize the market and hurt the projected financial benefits. \u201cWe ask our consultants to be very, very conservative,\u201d Been said. \u201cAnd even with that very, very conservative look, they believed that the New York market is strong enough, is plenty strong to give the three casino licenses.\u201d<\/p>\n
The state\u2019s four full-fledged upstate casinos have consistently fallen short of their projected revenues and tax contributions, according to the state comptroller\u2019s office.<\/a><\/p>\n Gov. Kathy Hochul praised the board\u2019s decision to advance the three licenses, the money from which will largely go toward funding transit. \u201cThe three projects approved today promise to unlock billions in funding for the (Metropolitan Transportation Authority) and create tens of thousands of jobs,\u201d she said in a statement. \u201cIt is critical that they keep those promises.\u201d<\/p>\n Though Monday\u2019s meeting largely went off without a hitch (with the exception of a brief interruption from protesters<\/a>), the road to get there was not without conflict. Numerous projects<\/a> \u2013 including ones at Nassau Coliseum, Coney Island and Times Square, among others \u2013\u00a0fell apart for a variety of reasons, be it failing to get local approvals or internal concerns about a project\u2019s economic outlook. The proposal with perhaps the most high-profile \u2013\u00a0and last-minute \u2013\u00a0exit was that of Empire City Casino by MGM Resorts in Yonkers, which currently operates as a racino and was seeking a full-fledged casino license. For years, the conventional wisdom was that Empire City Casino, along with Resorts World, would likely get two of the three licenses, given their existing infrastructure, with a third up for grabs. But MGM abruptly dropped<\/a> its bid in mid-October, citing the unlikeliness of obtaining the 30-year license it sought, much to the chagrin<\/a> of Yonkers Mayor Mike Spano.<\/p>\n Both the Bally\u2019s<\/a> and Metropolitan Park<\/a> had moments when it seemed they were dead in the water.<\/p>\n Because the Citi Field-adjacent proposal is on state parkland, a major hurdle for the project was getting a parkland alienation approved by the state Legislature<\/a>. Though state Sen. Jessica Ramos, whose Queens district includes a vast majority of the project area, had refused<\/a> to introduce legislation to do so, this spring state Sen. John Liu sidestepped her<\/a> and carried the legislation himself \u2013 a break in Senate tradition. It ultimately passed the chamber 54-5<\/a>. Last month, the city was sued<\/a> by the U.S. Tennis Association, which operates the Billie Jean King National Tennis Center at Flushing Meadows Corona Park, over an accusation that the city\u2019s deal with Cohen would violate the terms of the USTA\u2019s lease with the city. That issue, however, has since been resolved<\/a> with a new lease agreement.<\/p>\n Bally\u2019s required a similar parkland alienation<\/a> exception from the state Legislature, but its proposal faced more opposition in the City Council, which had to issue a home rule message to make that possible. When it looked like that might not pass, New York City Mayor Eric Adams stepped in and issued<\/a> a mayoral message, lowering the threshold the home rule message needed to pass from a two-thirds majority to a simple majority. Adams would later veto<\/a> the council\u2019s decision to reject a land use application for the project, clearing the way for Bally\u2019s to proceed. That\u2019s all despite the fact City Council Member Kristy Marmorato, whose Bronx district includes<\/a> the Ferry Point Park project, was vehemently opposed to the casino plan. The project has also been subject to scrutiny as it is at the site of what was formerly Trump Golf Links at Ferry Point; as per President Donald Trump\u2019s agreement with Bally\u2019s when he sold the land, The Trump Organization would be paid $115 million<\/a> after the license is secured.<\/p>\n In a statement, Genting Americas East President Robert DeSalvio said Resorts World expects its expanded operations to be underway within 90 days of licensure.<\/p>\n