![Seismic Shift Coming to Downstate New York with New Casino Project Bids](/img/breaking.png)
The landscape of downstate New York may soon experience a seismic shift with the impending introduction of three new casino facilities, poised to inject a fresh wave of excitement and economic vitality into the region. This development follows a pivotal move by the New York State Gaming Facility Location Board, which recently set a new bid deadline for these projects to June 27, 2025.
Legislation vs. Board Decision
On the legislative front, a bill requiring bids by August 31, 2024, awaits the signature of Governor Kathy Hochul. Authored by Senator Joe Addabbo, the bill, known as S9673A, successfully cleared both the House and Senate in early June. Should the Governor sign it into law, this legislation would override the existing deadline set by the facility location board, accelerating the timeline for bidder submissions to the end of summer 2024.
The board, however, has raised objections to the ambitious timeline specified in the bill, noting that bids cannot be reviewed until all necessary 'entitlements and zoning' are approved. The board contends that the expedited schedule is impractical, echoing concerns about the feasibility of such a timeline. “Politicians may want a quicker deadline, but that would be impractical,” remarked Vicki Been, a sentiment shared by the board's assessment.
Complex Approval Processes
The approval process for these casino projects is multifaceted and stringent. Environmental impact studies and mandatory zoning changes stand as critical prerequisites for bid review. For instance, Bally’s Bronx proposal and Steve Cohen’s Queens proposal are particularly hamstrung by the need for rezoning from their current parkland designations to permissible zones for casino facilities.
The array of proposals, competing for prime locations—ranging from Times Square to Brooklyn—number 11 in total, with a diverse mix of commercial and tribal operators. The competitive field includes:
- 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—with the operator yet to be determined—in Manhattan.
- Wynn New York City by Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan.
Balancing Ambition and Practicality
Amidst this competitive frenzy, the board remains hopeful that achieving the new deadline won't derail their overarching goal of issuing licenses by the end of 2025. However, they acknowledged the potential for conflict between their decision and the stipulations of S9673A during a recent meeting. “The hope would be that our reasoning will be helpful to the governor,” Been noted, signaling a paper-thin balance between political aspirations and logistical realities.
The successful bidders aim to transform the selected sites into multifaceted developments incorporating not just casino facilities but also stylish resorts, residential units, and planned neighborhood enhancements. If actualized, these ventures promise a profound transformation for some of downstate New York's most iconic areas, infusing them with new life and energy.
Ultimately, while the board and legislators navigate the intricacies of deadlines and approvals, stakeholders and the public alike eagerly await the dawn of a new era in New York's gaming and entertainment sectors. The outcome of this initiative is set to redefine the entertainment landscape and economic fabric of downstate New York for years to come.