The landscape of downstate New York is on the brink of transformation with the potential introduction of three new casino facilities. This development comes in the wake of a crucial decision by the New York State Gaming Facility Location Board, which has set a new bid deadline for June 27, 2025.
Potential Legislative Change
However, a bill currently awaits Governor Kathy Hochul’s signature that could significantly alter this timeline. Set with a deadline of August 31, 2024, the legislation would override the facility location board’s decision and accelerate the submission of proposals to the end of summer 2024. Known as S9673A, this bill was authored by Senator Joe Addabbo and successfully passed through both the house and senate in early June.
The facility location board has expressed concerns about the ambitious timeline. “Politicians may want a quicker deadline, but that would be impractical,” said Vicki Been. The board is adamant that bids cannot be reviewed until all “entitlements and zoning” approvals are in place. This includes mandatory environmental impact studies and necessary zoning changes, both of which are preconditions for bid reviews.
Rezoning Challenges
Currently, projects such as Bally’s Bronx proposal and Steve Cohen’s Queens proposal face significant rezoning challenges. Both locations require a shift from their existing parkland designations to accommodate casino facilities. It’s a complex process that underscores the board’s hesitations about accelerating the timeline.
Competitive Field of Bidders
Eleven bidders are vying to develop casinos in various prime locations, including Times Square and Brooklyn. These proposals are not solely limited to casino facilities; they encompass resorts, housing units, and neighborhood improvements, reflecting a blend of commercial and tribal operators.
Among the notable proposals are:
- Avenir by Silverstein Properties and Greenwood Gaming in Manhattan
- Bally’s Links at Ferry Point by Bally’s Corporation in The Bronx
- Caesars Palace Times Square by Caesars Entertainment, SL Green, and Roc Nation in Manhattan
- Coney Project by Thor Equities, Legends Entertainment, the Chickasaw Nation, and Saratoga Casino Holdings in Brooklyn
- Freedom Plaza by Soloviev Group and Mohegan Gaming in Manhattan
- Metropolitan Park by Steven Cohen and Hard Rock International in Queens
- MGM Empire City by MGM Resorts International in Yonkers
- Resorts World New York City by Genting Group in Queens
- Sands New York by Las Vegas Sands in Nassau County, Long Island
- Saks Fifth Avenue by Hudson’s Bay Company, operator to be determined, in Manhattan
- Wynn New York City by Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan
The facility location board recognizes the potential conflict between its current deadline and the stipulations of S9673A. During a recent meeting, board members expressed optimism that obtaining bids by the new deadline will not hinder the primary 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,” they stated. “The hope would be that our reasoning will be helpful to the governor,” Vicki Been added.
The outcome of this legislative maneuvering and the subsequent bidding process holds the promise of reshaping the entertainment and economic landscape of downstate New York. With gaming and broader development projects poised to enter some of the state's most iconic areas, the future certainly looks intriguing.