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Posting Date: March 25, 2020, 8:54h
Last updated: March 25, 2024 at 08:54h
In less than three years, it is becoming increasingly clear that no decision will be made on downstate New York casino licenses this year.
New York Gaming Commission(NYGC) Executive Director Robert Williams noted earlier Monday that it’s not feasible to open a 30-day window in which gaming companies can make official applications to the state for the three downstate casino licenses because New York City needs to alter various zoning laws So that at least one gaming facility could be in the Five Boroughs. This process may take a large part of this calendar year, meaning that the decision on winning bidders won’t be made until 2025.
Last November, Mayor Eric Adams, (D-NY), proposed a citywide text amendment to allow gaming venues within the five boroughs. There are 10 more steps Before a proposal can be implemented, it must be cleared.
Staff believes the timeline accommodates the existing statutory requirements … and allows sufficient time for local zoning approvals, which will enable the best, most comprehensive plans for commercial casino development,” Williams told NYGC board members.
It was hoped, going into this year, that the state would open the 30-day bid window before July. However, that now seems unlikely.
New York Casino Permits to be issued in 2025: No Surprise
While gaming industry observers and lobbyists were optimistic about the possibility of a New York casino license being awarded this year, some experts warned that it would likely be a 2025 matter. citing bureaucratic delaysAmong other issues.
Additionally, Gov. Kathy Hochul (D-NY), in her budget for the current financial year, did not include receipts from casino applications or licensing fees. This indicates that Albany was not counting on decisions being made on this front during the current fiscal. Williams said the state is not expecting these revenue generators until the 2025-2026 fiscal year.
Some gaming companies may be waiting for legislators to change parkland designations in their proposed casino sites. This is also applicable to Steve Cohen, Hard Rock International and Queens. Bally’s in The Bronx.
Las Vegas Sands is also being hampered in its efforts to build a resort casino in Nassau County by lawsuits brought by groups of opposition, including Hofstra University. Sands’ proposal is widely regarded as one of those that are most likely to be granted a New York license.
Five Boroughs Matter
As things stand today, MGM Resorts International is the only resort that can be considered. Empire City in Yonkers Resorts World New York, located in Queens, would be willing to participate in the bidding process which is expected to begin in the near future. Sands may be able to do the same if it can get past its litigation.
The only bidder in the three is Resorts World New York Queens. Albany policymakers and the city may want to ensure that there are equal playing fields for gaming companies when they evaluate Manhattan, because this could mean more revenue for the state.
When the bidding process begins, Caesars Entertainment, Wynn Resorts and others will pitch Manhattan casino hotel.
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