The New York State Gaming Facility Location Board voted on Thursday, 27th June to extend the deadline of three casinos in downstate until 2025. This was done despite a law that has a deadline of 31 August 2024, which is waiting for Governor Kathy Hochul to sign.
New York’s law permits three brick-and mortar casinos in commercial areas around New York City. At the moment, 11 bidders are interested in building casinos from Times Square all the way to Brooklyn. As they try to gain support, bidders offer resorts and housing units as well as neighbourhood improvements.
Hochul did not sign the bill introduced by Senator Joe Addabbo (S9673A), which passed both through the House and Senate in early June.
The legislation, if approved, would force bidders submit their proposals before the end of summer. The members of the facility location board said that they felt this timeline was unrealistic. The goal to issue licences before the end of the year 2025 is not affected by getting bids in early.
The August 2024 deadline is unreasonable
In their meeting on Thursday, the board acknowledged they had made a decision in violation of S9673A. The board believes that the deadline is unreasonable because bids can’t be evaluated until “entitlements” and zoning are approved.
Vicki Been, board chair of the Downstate Casinos Board said that she hoped “that our arguments would help the governor” in regards to the decision to delay the deadline for the bids. The message, if you read between the lines is that politicians might want to have a faster deadline but it would not be practical.
Before bids are reviewed, the bidders need to have completed environmental impact assessments and zoning modifications. At least in two instances – Bally’s Bronx and Steve Cohen Queens – sites need to be rezoned for casinos. The current designation of the sites is parkland. The sites have not yet been rezoned despite both pushing for it at the local and state level.
Stuart Rabinowitz, board member of the Facility Location Board, acknowledged that if Hochul signed the bill a new law will usurp their decision.
The list of casino projects in downstate New York currently stands at 11.
The list of casino proposals includes commercial operators as well as tribal operators. These proposals, their developers and operators are:
- Project Name: Avenir Developers: Silverstein Properties Casino Operators: Greenwood Gaming Boroughs: Manhattan
- Project Name: Bally’s Link at Ferry Point Developer, Casino Operator and Bally’s Corporation Borough of The Bronx
- Project name: Caesars Palace Times Square; Developers: Caesars Entertainment, SL Green, Roc Nation; Casino Operator: Caesars Entertainment; Borough: Manhattan
- Casino operator: Saratoga Casino Holdings Borough: Brooklyn
- Freedom Plaza Project; Soloviev Group as Developer; Mohegan Gaming as Casino Operator; Manhattan Borough; HTML4_ City: HTML4_ Manhattan
- Name of the project: Metropolitan Park; Developers: Steven Cohen Hard Rock International Boroughs: Queens
- Name of the project MGM Empire City Casino operator and developer MGM Resorts International City Yonkers
- Name of the project: Resorts World New York City Casino operator and developer: Genting Group Borough: Queens
- Project Name: Sands New York Developers and Casino Operators: Las Vegas Sands Boroughs: Long Island in Nassau County
- Project Name Saks Fifth Avenue Developer : Hudson’s Bay Company Casino Operator : To be Determined Borough : Manhattan
- Project Name Wynn New York City Developers Related Company, Oxford Properties Group Casino Operator Wynn Resorts Borough Manhattan
