The landscape of downstate New York could soon undergo dramatic changes with the introduction of three new casino facilities. The New York State Gaming Facility Location Board has set a new bid deadline of June 27, 2025, for these casino developments. However, a recently passed bill, currently awaiting Governor Kathy Hochul’s signature, could advance this timeline significantly.
Senator Joe Addabbo's bill, known as S9673A, mandates a bid submission deadline of August 31, 2024, superseding the facility location board's initial decision. This legislation passed both the House and Senate in early June and now rests in the governor’s hands. Should she sign it, the submission deadline for bidders will be pushed to the end of summer 2024, creating a more ambitious timeline for the entire process.
Board's Perspective
The facility location board has expressed concerns about the rigorous timeline proposed in the bill. They argue that bids cannot be reviewed until all ‘entitlements and zoning’ issues are resolved. The board sees the bill's proposed deadline as "impractical" given the extensive requirements that must be satisfied beforehand.
"Politicians may want a quicker deadline, but that would be impractical," remarked Vicki Been, echoing the board’s sentiment. She also noted, “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable.” The board hopes that their reasoning will be influential in the governor’s decision-making process. “The hope would be that our reasoning will be helpful to the governor,” Been added.
Requirements and Proposals
The preconditions mentioned by the board include environmental impact studies and necessary zoning changes, all of which must be addressed before any bid can progress. For instance, the Bally’s Bronx proposal and Steve Cohen’s Queens proposal necessitate rezoning from their current parkland designations to suit casino facilities.
There are currently 11 bidders vying to develop casinos across some of New York's most sought-after locations, from Times Square to Brooklyn. The proposals are not limited to casino facilities but also include resorts, housing units, and neighborhood enhancements, showcasing a mix of commercial and tribal operators.
The Contenders
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, operator to be determined, in Manhattan
- Wynn New York City: Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan
Board members noted the potential conflict between their extended deadline and the requirements of bill S9673A during a meeting on Thursday. Despite the differences, they remain hopeful that extending the bid deadline to June 27, 2025, will not obstruct their ultimate goal of issuing licenses by the end of 2025.
Should Governor Hochul sign Senator Addabbo's bill into law, the timeline would accelerate, prompting bidders to meet the earlier deadline. This could reshape downstate New York's entertainment and economic landscape, integrating gaming and broader development projects into some of the state's most iconic areas.
While the future remains uncertain until the governor makes her decision, one thing is clear: the stakes for New York’s gaming industry have never been higher.