The landscape of downstate New York is on the brink of a seismic shift with the anticipated introduction of three new casino facilities. This development follows a pivotal decision by the New York State Gaming Facility Location Board, which has set a new bid deadline for casino proposals to June 27, 2025. However, the final word rests with Governor Kathy Hochul, who is poised to sign a crucial piece of legislation that could override the board's decision.
The bill, spearheaded by Senator Joe Addabbo and known as S9673A, stipulates a significantly earlier deadline of August 31, 2024, for proposal submissions. This legislation has already sailed through both the house and senate in early June, now awaiting the governor's signature. Should it become law, the board's carefully considered timeline will be upended, adding pressure to an already ambitious project.
Timeline Concerns
The facility location board has been vocal about the ambitious timeline imposed by the bill. Board members have expressed concern that the accelerated deadline does not align well with the procedural requirements necessary for reviewing casino bids. According to the board, bids cannot be properly reviewed until all 'entitlements and zoning' are approved. This includes environmental impact studies and zoning changes, both of which are prerequisites before any proposal can be greenlit.
"Politicians may want a quicker deadline, but that would be impractical," said Vicki Been, reflecting the board's view. The board also stated, "Because bids cannot be reviewed until all 'entitlements and zoning' are approved, the current deadline is deemed unreasonable."
Big Players in the Game
The stakes are undeniably high, with 11 bidders vying to develop casinos in prime New York locations, ranging from Times Square to Brooklyn. Each proposal brings a unique vision to the table, incorporating not only casino facilities but also resorts, housing units, and neighborhood improvements. These development plans come from a mix of commercial and tribal operators, underscoring the competitive nature of the bidding process.
The proposals 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
Notably, some proposals such as Bally’s Bronx and Steve Cohen’s Queens projects require rezoning from their current parkland designations to accommodate casino facilities—a task that adds another layer of complexity to the approval process.
Balancing Deadlines and Objectives
During their meeting on Thursday, the board members acknowledged the potential conflict between their deadline and the stipulations outlined in S9673A. Despite these time constraints, the board remains optimistic, believing that obtaining bids by the new deadline will not obstruct the overarching goal of issuing licenses by the end of 2025.
“The hope would be that our reasoning will be helpful to the governor,” added Vicki Been, reflecting the board's optimism and strategic foresight.
The ultimate outcome of this legislative and procedural tug-of-war could significantly reshape the entertainment and economic landscape of downstate New York, bringing gaming, resorts, and broader development projects into some of the state's most iconic areas. The coming years will undoubtedly be transformative, as stakeholders navigate the intricate dance of approvals, bids, and groundbreaking developments.