At least Three New full-service Casino Licenses, are expected to be awarded at locations in or near the Five Boroughs by early 2023. Partnerships between New York City Real Estate Developers and National Gambling Operators are currently being Negotiated ahead of the formal Bid process, which will begin on Oct. 4th.
“New York is being perceived as an area of growth in the gaming industry. We did mobile sports betting and the success of that gave us motivation to expedite the downstate licenses,” said Queens State Sen. Joseph Addabbo Jr. (D-15th District), who ushered the Mobile Sports Betting Law through Albany. New Yorkers have wagered $7.1 billion and generated $263 million in Tax revenue since Mobile Sports Betting began in January, 2022. Addabbo said that he hopes the Gaming Commission can determine the Sites for the Three downstate Casino Licenses by the end of this year, or by the First Quarter of 2023.
Gov. Kathy Hochul (D) and New York City Mayor Eric Adams (D) have pushed Legislators and Regulators to advance the Licensing process. Adams has said he wants at least Two of the Casinos within City Limits.
For any Casino License, a Real Estate Developer or Property Owne,r will need to Partner with a Gaming Operator. Potential Operators include: Bally’s, Hard Rock International, Las Vegas Sands, Rush Street Gaming, and Wynn Resorts Development, according to State Gaming Commission Documents.
Officials from the Related Companies, the Developer of Manhatten's Hudson Yards, have approached City Hall about building a Casino on the West-Side of Manhattan. New York Mets owner Steven Cohen, has spoken with the City about building a Casino near Willets Point in Queens, and that Thor Equities, a Real Estate Developer, has expressed interest in building a Casino in Coney Island.
“It’s like a big dance,” Addabbo said. “These property owners are looking for a dance partner in terms of gaming operators, and it’s very fluid, the kind of conversations and kind of negotiations that are going on right now.”
The State authorized Three downstate Casino Licenses in the April 2022 Budget agreement. The State’s Gaming Commission is expected to appoint a Gaming Facility Location Board on Oct. 4th, which will then have 90 days to issue Requests for Applications. The Commission is expected to award Three licenses. Two of them are likely to go to a pair of Racinos in Yonkers and Queens, which combine Racetracks and Electronic Table games.
Genting’s Resorts World at Aqueduct in Queens and MGM’s Empire City Casino in Yonkers already host Horse Racing and Slot Machines, but are Not authorized for traditional Gambling Table games or On-Site Sports Betting. Neither Site needs to build a Casino from the ground up and both Sites are located in neighborhoods that currently support Gambling. “Most people think they have an edge. But we don’t make that decision,” said Jerry Skurnik, a Member of the State’s Gaming Commission, who added that the Gaming Facility Location Board, appointed by the Commission will oversee the Licensing process. “Everyone is theoretically a player.”
That leaves Manhattan, Brooklyn, Queens, and Long Island, competing for the elusive Third and Final License.
Willets Point has been Underdeveloped for 20 years, but Queens Chamber of Commerce President and CEO Tom Grech, said he is working with Steven Cohen, the billionaire Owner of the Mets, to Redevelop the Neighborhood by Citi Field. Plans for Redevelopment include: a new light Rail, a new 300,000 square foot Convention Center, and possibly a Casino, according to Grech. “I think Steve has lots of different irons in the fire and his relationships are far and wide, and I do believe he’d like to have a casino in that part of Queens,” Grech said. “He’s a long-term investor and a long-term vision type of guy.”
Once Applications for each Bid are submitted this fall, the Community Advisory Committees for each Project will be formed. The Committees will Review the Applications, hold Meetings, and Vote whether to approve each Application. The Six-Member Committees include: the Local City Council Member, the Borough President, the District’s State Senator, the District’s State Assembly Member, the Mayor, and the Governor. A License Application must be accepted only by a Two-Thirds Vote.
If approved by a Community Advisory Committee Vote, the process must overcome Local Zoning approvals and a Final Gaming Facility Location Board Review, before a License is granted.
Alan Woinski, CEO of Gaming USA Corporation, an Industry Consulting firm, said that Casino Building Projects are usually Controversial. “In the casino world it’s always ‘not in my backyard.’ That’s always the fear of the developer,” he said. “And local politicians have a lot to say in all that, especially someone who wants to win an election and sees a lot of opposition to it.”
NYC Wins When Everyone Can Vote! Michael H. Drucker
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