Downstate NY Casino Landscape: Deadline Drama and Competitive Bids

The landscape of downstate New York is on the cusp of a significant transformation, with the introduction of three new casino facilities vying for prime locations from Times Square to Brooklyn. This ambitious plan has set the stage for high stakes not only in terms of gaming but also in reshaping some of the state's most iconic areas.

New Bid Deadline Sparks Controversy

At the heart of this transformation lies the New York State Gaming Facility Location Board's critical decision to push the bid deadline for these casinos to June 27, 2025. This move has ignited a wave of reactions, particularly regarding a competing bill authored by Senator Joe Addabbo, known as S9673A. The bill, awaiting Governor Kathy Hochul's signature, proposes an accelerated bid deadline of August 31, 2024, seeking to fast-track the submissions. Should Governor Hochul sign it, this legislation would override the location board’s decision.

The bill has already cleared both the house and senate in early June, but the facility location board remains cautious. They have expressed concerns about the practicality of meeting such an ambitious timeline. "Politicians may want a quicker deadline, but that would be impractical," remarked Vicki Been, reflecting a sentiment echoed by the board.

Zoning and Environmental Challenges

The urgency proposed by Addabbo’s bill faces significant hurdles. The board insists that bids cannot be reviewed until all 'entitlements and zoning' are approved. These prerequisites include comprehensive environmental impact studies and necessary zoning changes. For instance, the Bally’s Bronx proposal and Steve Cohen’s Queens proposal both require rezoning from their current parkland designations to accommodate casino facilities. This complex process adds an additional layer of difficulty to an already challenging timeline.

“Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable,” the New York State Gaming Facility Location Board stated definitively. It is clear that while the board acknowledges the political push for quicker results, their primary concern remains the feasibility and thoroughness of the process.

Exciting Proposals from a Diverse Pool of Bidders

Despite the bureaucratic and logistical challenges, the competition among potential developers is fierce. No fewer than 11 bidders are in the fray, each putting forward visions not just for casinos but for integrated community enhancements. These proposals encompass resorts, housing units, and broader neighborhood improvements, showcasing a mix of commercial and tribal operators.

Among the standout proposals are Silverstein Properties and Greenwood Gaming's Avenir in Manhattan, Bally’s Corporation’s Bally’s Links at Ferry Point in The Bronx, and Caesars Entertainment’s Caesars Palace Times Square, which involves a collaboration with SL Green and Roc Nation. Brooklyn's Coney Project, a collaborative effort by Thor Equities, Legends Entertainment, the Chickasaw Nation, and Saratoga Casino Holdings, also represents a formidable bid.

Other noteworthy bids include Freedom Plaza by the Soloviev Group and Mohegan Gaming in Manhattan, Steven Cohen and Hard Rock International’s Metropolitan Park in Queens, and MGM Resorts International’s MGM Empire City in Yonkers. The Sands New York proposal by Las Vegas Sands aims to make its mark in Nassau County, Long Island, while Hudson’s Bay Company’s proposed project at Saks Fifth Avenue in Manhattan remains intriguing with its operator yet to be determined. Rounding out the list is Wynn Resorts’ collaboration with Related Companies and Oxford Properties Group for Wynn New York City in Manhattan, and Genting Group’s Resorts World New York City in Queens.

The Road Ahead

The board acknowledges the potential conflicts between their extended timeline and the expedited deadline suggested by S9673A. During their meeting on Thursday, members expressed an optimistic outlook, hoping that securing bids by the new deadline would not impede the ultimate goal of issuing casino licenses by the end of 2025.

“The hope would be that our reasoning will be helpful to the governor,” said Vicki Been, highlighting the board’s intention to find a balanced path forward.

As the deadline drama unfolds, the stakes extend far beyond the gaming tables. The resulting projects promise to have lasting impacts on the region’s entertainment and economic landscapes, bringing new life to some of New York's most storied locales.