The landscape of downstate New York may soon undergo significant changes as the introduction of three new casino facilities looms on the horizon. The New York State Gaming Facility Location Board has set a bid deadline of June 27, 2025, despite a looming piece of legislation that could force them to act much sooner.
Currently awaiting Governor Kathy Hochul’s signature, a bill with a deadline of August 31, 2024, seeks to accelerate the process. If signed, this legislation would override the facility location board’s decision and require bidders to submit their proposals by the end of summer 2024. The bill, authored by Senator Joe Addabbo and known as S9673A, had already passed through both the house and senate in early June.
Conflicting Timelines
The board members have expressed concerns about the ambitious timeline dictated by the bill. Vicki Been, a prominent voice within the board, remarked, “Politicians may want a quicker deadline, but that would be impractical.” The board underscored the necessity for all 'entitlements and zoning' approvals before reviewing any bids. They argued that the current deadline is unreasonable and expressed hope that their reasoning would be taken into account by the governor.
The board’s cautious approach hinges on several preconditions, including environmental impact studies and the approval of necessary zoning changes. The Bally’s Bronx proposal and Steve Cohen’s Queens proposal, for instance, require rezoning from their current parkland designations to accommodate the casino facilities. Until these conditions are met, the board asserts that reviewing bids would be premature.
A Broad Spectrum of Proposals
The excitement surrounding the potential new casino facilities is palpable, with 11 bidders competing to develop casinos in prime locations such as Times Square and Brooklyn. These proposals do not solely focus on gaming spaces but also include plans for resorts, housing units, and neighborhood improvements. Interestingly, the array of proposals features a mix of commercial and tribal operators, each bringing unique perspectives and plans to the table.
Among these proposals are:
- 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.
A Path Forward
The board recognizes the potential conflict between their decision and the stipulations of S9673A but remains optimistic. They believe that obtaining bids by the new deadline will not hamper the overarching goal of issuing licenses by the end of 2025.
The outcome of this endeavor could significantly reshape the entertainment and economic landscape of downstate New York by bringing gaming and broader development projects into some of the state’s most iconic areas. As the situation unfolds, stakeholders eagerly await the governor’s decision, which will ultimately determine the timeline and scope of these ambitious projects.
“The hope would be that our reasoning will be helpful to the governor,” Vicki Been stated, encapsulating the board's optimism amid the procedural complexities. As New York braces for this potential transformation, all eyes are on the key players tasked with steering these developments toward a successful and timely realization.