Four Finalists Emerge as Downstate New York Casino License Battle Nears Conclusion

Key Moments:

  • Metropolitan Park gained community committee approval on September 30, joining Bally’s, MGM Empire City, and Resorts World as finalists for three available licenses.
  • The New York State Gaming Facility Location Board will evaluate each bid, with recommendations to the Gaming Commission expected by December 1.
  • If all licenses are awarded, New York could collect $1.5 billion in fees; final decisions are anticipated by December 31.

Finalists Revealed in NYC Casino Competition

The long-running contest for downstate New York’s casino licenses has entered a pivotal stage, with four contenders advancing after extensive lobbying and significant investments. On September 30, the Metropolitan Park proposal – an $8 billion complex from New York Mets owner Steve Cohen and Hard Rock Entertainment, to be located near Citi Field in Queens – secured a crucial endorsement from the local advisory committee. This selection places Metropolitan Park in league with Bally’s in the Bronx, MGM Empire City in Yonkers, and Resorts World in Queens, as the final four vying for three coveted licenses.

The New York State Gaming Commission is now reviewing these four proposals. By the end of the year, it will select three projects to move forward.

Impending Board Evaluation and Approval Timeline

Next, the state Gaming Facility Location Board (GFLB) will assess each proposal. After the review, it will send recommendations to the Gaming Commission. During this stage, board members will focus on critical components including projected revenue and suggested tax rates. Applicants may propose their preferred rates, but the minimums are set at 25% for slot machine revenue and 10% for other gaming activities.

The GFLB intends to present its recommendations to the commission by December 1. Final decisions regarding which three applicants will receive the available licenses are expected by December 31. Should all licenses be awarded, the state stands to receive $1.5 billion in license fees. However, stakeholders remain mindful that regulators have occasionally adjusted the process unexpectedly, citing historical experience with upstate licensing.

Competitive Landscape and Project Details

The group of finalists is composed of two established operators and two newcomers. Resorts World and MGM Empire City, both with longstanding video lottery terminal operations, are perceived as strong candidates due to their experience and entrenched community relationships. Their local presence and contribution to state finances – with existing VLTs taxed at 55%, creating hundreds of millions in annual revenue – reinforce their bids’ strengths.

Resorts World has outlined plans to open its full casino by July 2026, while MGM Empire City is aiming for a July 2027 debut. Metropolitan Park, by contrast, has projected a later commencement in June 20230. Bally’s has yet to disclose its construction schedule for the Bronx project, introducing an element of uncertainty to its campaign.

ProjectLocationEstimated CostProjected Opening
Metropolitan ParkQueens (next to Citi Field)$8 billionJune 20230
Bally’sBronx$4 billionNot disclosed
MGM Empire CityYonkersNot disclosedJuly 2027
Resorts WorldQueensNot disclosedJuly 2026

Challenges and Market Dynamics

There are several competitive complexities within the race. Both Resorts World and Metropolitan Park are proposing sites in Queens, separated by only 10 miles, raising concerns about their financial performance if both are granted licenses. Meanwhile, Bally’s is facing fiscal hurdles, as it struggles to meet the timeline for its $1.7 billion Chicago development, which is scheduled for completion next September. This financial strain is significant in light of Bally’s Bronx project’s estimated $4 billion cost, over double its Chicago budget. Additionally, Bally’s has announced plans for a new Las Vegas resort, though specifics on cost and timing have not been disclosed.

With established operators and ambitious new entrants competing for a limited number of licenses, the final determination by the state regulators is anticipated with considerable interest from both industry players and market observers.

  • Author

Daniel Williams

Daniel Williams has started his writing career as a freelance author at a local paper media. After working there for a couple of years and writing on various topics, he found his interest for the gambling industry.
Daniel Williams
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