On Thursday, June 27, the New York State Gaming Facility Location Board (PDF) introduced its choice to increase the bid submission deadline for 3 downstate casinos to June 27, 2025. This choice comes whilst a invoice proposing an August 31, 2024 deadline awaits Governor Kathy Hochul‘s signature.
Beneath present New York legislation, three downstate casinos will be established in industrial places inside and round New York Metropolis. Presently, 11 entities are vying to position their casinos in areas starting from Occasions Sq. to Brooklyn. These bidders are proposing casinos and providing further facilities reminiscent of resorts, housing items, and neighborhood enhancements to garner assist.
Senator Joe Addabbo’s invoice (S9673A), handed by means of each the Home and Senate in early June, has but to obtain Governor Hochul’s endorsement. Ought to it’s signed into legislation, the invoice would necessitate bidders to submit their proposals by the top of summer season. Nevertheless, members of the Facility Location Board imagine this timeline is impractical. They indicated that an earlier submission deadline is unlikely to have an effect on the target of granting licenses by the top of 2025.
Board Rejects August 2024 Deadline
Throughout Thursday’s assembly, board members overtly acknowledged the battle with S9673A. The board considers the present deadline unfeasible as a result of bids can’t be evaluated till all obligatory “entitlements and zoning” are permitted.
Vicki Been, chair of the board, remarked on the extension of the downstate on line casino bid deadline, stating, “The hope could be that our reasoning will probably be useful to the governor.” This assertion means that whereas politicians would possibly want a faster deadline, the board deems such a timeline impractical.
Potential bidders should safe zoning adjustments and full environmental influence research earlier than their bids will be reviewed. As an example, proposals like Bally’s Bronx and Steve Cohen’s Queens require rezoning websites presently designated as parkland. Each events have advocated for these adjustments with native and state boards, however no reclassifications have but been finalized.
Board member Stuart Rabinowitz acknowledged that if Governor Hochul indicators the invoice into legislation, the brand new laws would override the board’s choice.
Eleven On line casino Proposals in Consideration
Presently, the listing of proposals for the downstate on line casino licenses contains each industrial and tribal operators. The proposed initiatives and their respective builders and operators are as follows:
Avenir, Developer: Silverstein Properties; On line casino Operator: Greenwood Gaming; Location: Manhattan
Bally’s Hyperlinks at Ferry Level, Developer and On line casino Operator: Bally’s Company; Location: The Bronx
Caesars Palace Occasions Sq., Builders: Caesars Leisure, SL Inexperienced, Roc Nation; On line casino Operator: Caesars Leisure; Location: Manhattan
The Coney, Builders: Thor Equities, Legends Leisure, the Chickasaw Nation, Saratoga On line casino Holdings; On line casino Operator: Saratoga On line casino Holdings; Location: Brooklyn
Freedom Plaza, Developer: Soloviev Group; On line casino Operator: Mohegan Gaming; Location: Manhattan
Metropolitan Park, Developer: Steven Cohen; On line casino Operator: Onerous Rock Worldwide; Location: Queens
MGM Empire Metropolis, Developer and On line casino Operator: MGM Resorts Worldwide; Location: Yonkers
Resorts World New York Metropolis, Developer and On line casino Operator: Genting Group; Location: Queens
Sands New York, Developer and On line casino Operator: Las Vegas Sands; Location: Lengthy Island, Nassau County
Saks Fifth Avenue, Developer: Hudson’s Bay Firm; On line casino Operator: to be decided; Location: Manhattan
Wynn New York Metropolis, Builders: Associated Firms, Oxford Properties Group; On line casino Operator: Wynn Resorts; Location: Manhattan
The deadline extension is seen as a transfer to make sure that all bidding entities have adequate time to fulfill the mandatory necessities and that the choice course of is thorough and efficient, aiming to serve the long-term pursuits of New York Metropolis and its surrounding areas.
