The landscape of downstate New York may be on the brink of a significant transformation with the planned introduction of three new casino facilities. This potential shift comes as the New York State Gaming Facility Location Board has set a new bid deadline for these casinos to June 27, 2025.
However, a bill currently awaiting Governor Kathy Hochul’s signature could accelerate this timeline. The bill, authored by Senator Joe Addabbo and identified as S9673A, sets a deadline of August 31, 2024, for proposal submissions. Having passed through both the House and Senate in early June, this legislation, if signed by the Governor, would override the facility location board’s decision and impose a compressed timeline for potential bidders.
The facility location board has voiced its concerns regarding the ambitious schedule set by the bill. “Politicians may want a quicker deadline, but that would be impractical,” remarked Vicki Been, reflecting the board's apprehensions. The board insists that the current deadlines are essential, as bids cannot be reviewed until all ‘entitlements and zoning’ are approved. These dependencies also include comprehensive environmental impact studies and necessary zoning changes, which must be cleared before any bid is eligible for review.
Competing Proposals
The Bally’s Bronx proposal and Steve Cohen’s Queens proposal, for example, face hurdles like rezoning from their current parkland designations. Despite these challenges, there are 11 bidders vying to develop casinos in some of the most coveted locations, including Times Square and Brooklyn. These ambitious proposals encompass not just casino facilities but also resorts, housing units, and neighborhood improvements, showcasing a mix of both commercial and tribal operators.
The proposals on the table include:
- 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
Potential Conflicts and Future Implications
During their meeting on Thursday, the board members acknowledged the potential conflict between their decision and the stipulations of S9673A. They remain optimistic, however, that obtaining bids by the new deadline will not impede the overarching goal of issuing licenses by the end of 2025. This cautious optimism is balanced with a practical understanding of the requirements to move forward.
The board’s rationale is underscored by Vicki Been's hopeful note, “The hope would be that our reasoning will be helpful to the governor.” This statement reflects the intricate balance between political pressure and pragmatic regulatory steps.
The introduction of these new casino facilities promises to reshape the entertainment and economic landscape of downstate New York significantly. The stakes are high, as these projects will bring a host of new developments into some of the state's most iconic areas. With bidders ranging from global gaming giants to local real estate moguls, the future of New York's casino landscape hangs in the balance of these upcoming decisions.
Each proposal aims to integrate not only gaming but holistic neighborhood enhancements, from housing and retail to green spaces and entertainment hubs. The goal is to ensure that these new facilities contribute to the community beyond the allure of gaming tables and slot machines.
As the clock ticks down to decision day, the interwoven considerations of environmental impact, zoning laws, and community input will play crucial roles in determining the final outcome. While the board anticipates some friction between imposed deadlines and practical realities, the ultimate goal remains clear: to introduce vibrant, economically beneficial, and thoughtfully integrated casino facilities to the heart of New York.