Downstate Casino Race Narrows to Three Proposals in New York
The competition for up to three downstate casino licenses in New York has been whittled down to three remaining proposals, following MGM’s withdrawal from consideration, a decision that could significantly reshape the state’s gambling landscape and generate substantial tax revenue.
The three applicants vying for the licenses are Bally’s Corporation, proposing a casino complex at Ferry Point in the Bronx; the New York Mets’ owner Steve Cohen and Hard Rock International, with a plan for a resort near Citi Field in Queens; and the Genting Group, seeking to expand its existing Resorts World New York City racino in Jamaica, Queens. The Gaming Facility Location Board will now evaluate these proposals, with a decision expected by the end of the year. Each project requires approval from Community Advisory Committees (CACs), compliance with zoning regulations, and a $1 million application fee.
The proposals vary in scope and projected impact. Metropolitan Park near Citi Field anticipates $3.9 billion in revenue by its third year and $850 million in city and state tax revenue, while Resorts World aims for a quicker launch by leveraging its existing infrastructure. Bally’s project includes a unique element: if approved, the Trump Organization stands to receive $115 million due to a prior agreement related to the land. The state is also considering the potential economic impact of each project, with Spectrum Gaming estimating that new gaming facilities could produce $5.5 billion in gross gambling revenue annually. For more information on the state’s gaming regulations, visit the New York State Gaming Commission.
Applicants have already spent millions lobbying for their projects, with the organizations backing the Citi Field proposal leading the way at $1.8 million in 2024. The Gaming Facility Location Board will recommend up to three winners to the State Gaming Commission, which will then confirm that each applicant meets requirements for integrity, financial stability, and responsible operation. Officials stated that the board will prioritize economic activity and business development in its final assessment.
The Gaming Facility Location Board has requested supplemental material from applicants by October 14, including proposed tax rates and revenue projections, and will announce its recommendations later this year.
