The landscape of downstate New York might be on the verge of a significant transformation with the potential introduction of three new casino facilities. A pivotal decision by the New York State Gaming Facility Location Board has established a new bid deadline of June 27, 2025, for these ventures.
This decision comes at a time when a bill, awaiting Governor Kathy Hochul's signature, proposes a contrasting deadline. The bill, authored by Senator Joe Addabbo and known as S9673A, requires bidders to submit their proposals by August 31, 2024, a full year earlier than the board's deadline.
Legislative Tension and Timelines
The bill had already cleared both houses in early June, indicating strong legislative backing. However, the facility location board has expressed its concerns regarding the ambitious timelines set by the bill. “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable,” the board stated. Vicki Been, a prominent voice on the board, emphasized this concern, remarking, “Politicians may want a quicker deadline, but that would be impractical.”
Bids require thorough review, contingent upon the completion of essential preliminary steps like environmental impact studies and necessary zoning changes. These prerequisites are not mere formalities but crucial checkpoints to ensure sustainable development. Currently, proposals like Bally’s Bronx and Steve Cohen’s Queens still require significant zoning approvals, transitioning from their parkland designations to casino-compatible zones.
Stakeholders and Proposals
The competition to develop these casinos is fierce, with eleven bidders vying for coveted locations ranging from Times Square to Brooklyn. The proposals are diverse, encompassing not just casino facilities but also resorts, housing units, and community improvements, presenting a blend of commercial and tribal operators.
Among the notable proposals are:
- 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.
These aspirants present a substantial mix of high ambitions and substantial resources, each vying to exploit the entertainment potential of one of the world’s most iconic regions.
Balancing Ambitions and Practicality
The board members acknowledged the potential clash between their carefully considered deadline and the rapid timeline proposed by S9673A in a recent meeting. Despite this potential conflict, the board remains optimistic. “The hope would be that our reasoning will be helpful to the governor,” Been commented. By extending the deadline to 2025, they aim to strike a balance between ambition and practicality, ensuring that all necessary preconditions are met without unnecessary haste.
Determining an appropriate timeline is no small feat, especially when dealing with such extensive and impactful projects. The stakes are high, not just for the bidders but for the communities these projects will ultimately impact. Environmental considerations, zoning approvals, and community impact assessments are critical components that require time and careful deliberation.
If managed appropriately, this initiative could redefine the economic and entertainment terrain of downstate New York. These new casino facilities, with their accompanying resorts and neighborhood improvements, promise not just a boost in tourism but a broader economic uplift. The year 2025, therefore, stands as a significant marker, not just for the issuing of licenses but potentially for the dawn of a new era in regional development.