In a decisive move, New York City has granted downstate casino licenses to Bally’s Bronx, Resorts World New York City at Aqueduct, and Metropolitan Park, a project led by Mets owner Steve Cohen and Hard Rock. This decision came after a lengthy and competitive bidding process involving major global gaming operators. The unanimous vote by the New York Gaming Facility Location Board paves the way for these developments, though final approval rests with the New York State Gaming Commission, expected by the end of December.
This announcement was met with vocal opposition from anti-casino protesters who expressed their disapproval at the CUNY Graduate Center after the board’s recommendations were announced. Despite the protests, the board’s decision promises significant financial benefits for New York State. Each of the three selected operators will pay an initial $500 million license fee, contributing a total of $1.5 billion to the state treasury before any casinos open their doors.
Projections from the location board suggest that by 2036, the annual gaming tax revenue could reach $1 billion, accumulating an estimated $7 billion between 2027 and 2036. In addition to gaming taxes, nearly $6 billion is anticipated in state and local taxes from related hotel, sales, and other levies. A portion of this revenue is earmarked for the Metropolitan Transportation Authority, with additional funds allocated to education and public services, including ongoing support for problem gambling programs.
Bally’s Bronx is poised to develop a $4 billion integrated resort adjacent to its Ferry Point golf course. The plans include a 500,000 square foot gaming floor featuring approximately 3,500 slot machines, 250 table games, and a poker room. The complex will also offer a 500-room luxury hotel, dining and entertainment venues, and a 2,000-seat events center. Bally’s anticipates generating over $1 billion in annual gaming revenue and more than $200 million in taxes once the project is fully operational. “This is a chance to make a tangible impact on the city I grew up in,” said Soo Kim, Chairman of Bally’s Corporation, reflecting on the personal and strategic significance of securing a New York City license.
However, some community members express concerns about potential traffic congestion, environmental impacts on the waterfront, and the social ramifications of placing a large casino in the Bronx. These issues highlight the ongoing debate over the benefits and drawbacks of such developments in urban areas.
In Queens, Resorts World New York City plans a significant transformation of its Aqueduct site, with a proposed investment of $5.5 to $5.6 billion. This expansion will create a 5.6 million square foot integrated resort, featuring a casino with slot machines and table games, a hotel, a 7,000-seat arena, conference facilities, numerous dining options, a spa, and community green spaces. Resorts World estimates that the full-scale resort could generate around $2.2 billion in annual revenue, bolstering tax contributions to the MTA and educational funds.
Meanwhile, Steve Cohen’s Metropolitan Park, an $8.1 billion initiative near Citi Field in Flushing, Queens, plans to feature 5,000 slot machines, 375 live dealer tables, 30 poker tables, and a substantial sportsbook. The development includes a Hard Rock-branded hotel, convention spaces, entertainment venues, and 25 acres of new parkland. With projected annual revenues of $3.9 billion and taxes of approximately $850 million by the third year, the project promises to be a significant economic driver. Cohen’s team emphasized the importance of community engagement and pledged over $1 billion in local investments, aiming to address concerns about congestion, gambling-related harm, and the transformation of public spaces into private developments.
The final decision by the Gaming Commission is anticipated to align with the Location Board’s recommendations, though commissioners have cautioned that this is not a foregone conclusion. Each license will include stipulations on responsible gambling practices, labor and diversity commitments, and community impact reporting. This comprehensive framework seeks to ensure that the benefits of the new casinos are widely felt across New York City while mitigating potential negative impacts.
Overall, the awarding of these licenses marks a significant development in New York State’s gaming landscape, poised to create jobs, increase tax revenues, and transform key areas within the city. The projects aim to balance economic gains with social responsibilities, a challenge that will continue to shape the dialogue around casino development in New York and beyond.
Erik Agary is a seasoned writer at True Games Reviews, specializing in gaming, casino games, and interactive entertainment. With a passion for all things digital, Erik dives deep into the latest trends and developments in the gaming world, offering insightful reviews and detailed analysis. His expertise spans across multiple gaming platforms, ensuring comprehensive coverage that resonates with both novice and experienced gamers alike.
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