The application deadline for downstate New York’s three casino licenses officially closed last Friday.
The New York Gaming Facility Location Board is now sifting through eight different applications for new casino projects slated for the downstate region—think New York City, Long Island, and Westchester County.
The applicants include:
- MGM Resorts
- Genting
- Hard Rock
- Rush Street Gaming
- Bally’s
- Chickasaw
- Mohegan
- Caesars Entertainment
In the past two months, some other operators who could have made the list but dropped out were Wynn Resorts Ltd., parent of Macau operator Wynn Macau Ltd., and Las Vegas Sands, parent of Macau concessionaire Sands China Ltd.
What’s next?
So all those applications came in with their $1 million fees. What happens now? Well, for each proposal, local elected officials are going to set up a special community advisory committee.
And here’s the big hurdle: before the state’s Gaming Facility Location Board can even think about making a final decision (we’re hoping by December 1st), that proposal has to get a two-thirds vote of approval from its local community committee.
These committees, which also consist of Governor Kathy Hochul and NYC Mayor Eric Adams, are supposed to get started on their reviews right away; that’s what the state rules say.
A sneak peek of the proposed casino amenities
So everyone’s scrambling for a piece of the pie in what could turn into a $4.4 billion annual gambling market right here in the country’s biggest city.
These companies are putting forward some wild ideas to totally transform urban areas—think turning old racetracks, office buildings, even parking lots and golf courses into brand-new entertainment hubs, all with a shiny casino at the center.
For example, Caesars Entertainment wants to revamp an office tower into a Times Square hotel and casino. Of course, not everyone’s on board; critics, including some state lawmakers, are already worried about even more traffic clogging up the already busy theater area.
Then you’ve got Hard Rock’s plan, which includes their signature hotel, a music venue, a food hall, and even public athletic fields. They’re actually looking to convert a huge 50-acre parking lot into a full-blown entertainment destination.
Most of these proposals are for entirely new casinos, except for MGM. Their plan is a $2.3 billion expansion of their Empire City Casino in Yonkers. That investment would bring in table games, add three new restaurants, build a 5,000-seat concert hall, and create a high-limit gambling area.
So, if an applicant gets chosen, they will face a $500 million license fee right off the bat, and then they’ll have to put down a minimum of $500 million more to develop their proposed site.
What about online casinos in New York?
Prior to recent months, New York has largely been focused on getting those physical casinos up and running.
But more lately a lot more focus has been turned to outlawing sweep casinos and legalizing online casinos.
Imagine being able to play your favorite casino games—slots, blackjack, roulette—right from your phone or computer, anywhere in the state. New York has already seen huge success with online sports betting, bringing in 1 billion in 2024 tax revenue, and that’s definitely got lawmakers thinking about the next step.
On Jan 21, Sen. Joseph Addabbo introduced Senate Bill S2614, which will legalize online casinos in New York.
But it’s not a done deal yet; there are still talks and concerns about how it might affect the brick-and-mortar casinos and problem gambling.
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