MGM, Resorts World, and Hard Rock Set to Dominate New York Casino Licenses

The race for the much-coveted downstate New York casino licenses is nearing its conclusion, with major players MGM, Genting, and Hard Rock emerging as the frontrunners. As speculation heightens, it seems likely that these companies will secure the necessary permissions to establish new gambling venues.

Key Highlights

Bidding ends on December 1
Front runners include MGM, Genting, and Hard Rock
Community support essential for bid approval

The predictions surrounding the potential winners of these licenses have been ongoing for months, with many industry analysts believing that the results will favour these established operators.

Casino locations — Image by 955169 from Pixabay

Community Advisory Committees Vote

Recently, the Community Advisory Committees (CAC) for various proposals, including Caesars Palace Times Square and Freedom Plaza, voted against allowing these significant investments to proceed. For a bid to be considered by the New York Gaming Facility Location Board, it must secure a three-fifths majority backing from the respective CAC.

While five applicants are vying for approval, only four are anticipated to receive the necessary support:

MGM Empire City in Yonkers
Resorts World in Queens
Metropolitan Park in Willets Point
Bally’s Bronx (though concerns remain)

Empire City and Resorts World have consistently been viewed as leading candidates, thanks to their ongoing community investments and established presence.

Coney Island’s Opposition

The proposed Coney Island casino, designed by a coalition of Thor Equities, Saratoga Casino Holdings, and others, aims to transform the Brooklyn area into a year-round tourist destination. However, it has faced significant community resistance, with the local advisory board expressing firm opposition.

Coney Island must remain a community space for everyday New Yorkers, prioritising public interests over profits.

Metropolitan Park Proposal

The Hard Rock and sports mogul Steve Cohen are also looking to develop a casino at Citi Field, home of the New York Mets. This bid has gained traction, particularly after the withdrawal of other major players from the NYC market.

Support is evident for the Metropolitan Park project, with local leaders advocating for its potential benefits:

Queens Borough President Donovan Richards supports the proposal
State Assemblymember Larinda Hooks backs the endeavor
City Councilmember Francisco Moya shows public support

Bally’s Bronx: A Tough Battle

Bally’s Corporation’s proposal to establish a resort casino in the Bronx has met with community resistance, leading to a vote against the plan by the Bronx Community Board. Despite the local opposition, there’s a possibility that the plan could receive the necessary votes from state officials, especially given the influence of NYC Mayor Eric Adams.

The stakes are high for all parties involved, as securing these licenses could mean significant economic boosts for the areas concerned, but only if sufficient community support is garnered.

As the deadline for bidding approaches, the outcomes could reshape the New York gaming landscape dramatically, offering a mix of optimism and concern among community members and stakeholders.

Conclusion

With crucial developments underway regarding New York’s casino licensing, the decisions made will have lasting impacts on the gaming industry and the communities around these potential venues. As MGM, Resorts World, Hard Rock, and others vie for approval, the interplay of community input and governmental decisions will be critical in determining the future of gambling in the Empire State.