New York Fields Eight Bids for Three Downstate Casino Opportunities
The New York Gaming Facility Location Board has officially concluded its Request for Applications (RFA) for three highly sought-after downstate casino licenses. In a thrilling turn of events, eight different entities have submitted bids to secure their stake in this lucrative opportunity, which encompasses the vibrant regions of New York City, Westchester County, and Long Island (Nassau and Suffolk counties).
The Bidders
The ambitious contenders for these casino licenses include:
- MGM Resorts
- Genting
- Caesars Entertainment
- Hard Rock
- Mohegan
- Chickasaw Nation
- Rush Street Gaming
- Bally’s
Proposal Highlights
With proposals ranging from the Bronx to Times Square and Coney Island, each bidder has significant community commitments in their submissions. These include:
- Affordable housing initiatives
- Creation of public green spaces
- Infrastructure improvements
- Thousands of new job opportunities
- Millions in new tax revenue
- Investment opportunities for local businesses
In line with the process, the New York Gaming Facility Location Board will assign Community Advisory Committees (CACs) to review the bids.
Structure of Community Advisory Committees
The CAC for the seven bids situated within the five boroughs of NYC will comprise six members, including key figures such as Governor Kathy Hochul, NYC Mayor Eric Adams, and respective local elected officials. For MGM’s bid in Yonkers, the committee includes:
- Governor Kathy Hochul
- Westchester County Executive Ken Jenkins
- Yonkers Mayor Mike Spano
- Senator Andrea Stewart-Cousins
- Assemblymember Nader Sayegh
Next Steps in the Application Process
The CACs will begin their work immediately, as mandated by state regulations. With many bids already having completed necessary environmental and zoning approvals, the official deadline for these sign-offs is set for September 30, 2025. Following this, each CAC will vote on their respective projects.
Projects that secure a two-thirds majority from the CAC will submit additional materials, including proposed tax rates on gross gaming revenue, to the Gaming Facility Location Board. The final review will determine which bids will be awarded the coveted licenses.
Timeline for Selection
The winners are expected to be announced by December 1, 2025, with licenses issued by the New York State Gaming Commission shortly thereafter.
A Long-Awaited Opportunity
The journey towards obtaining downstate casinos began back in 2013 when New York lawmakers authorized three casinos to accommodate slot machines and live-dealer table games. However, the licenses were stalled by a 10-year moratorium, allowing upstate properties to establish themselves first.
Due to underperformance of upstate casinos, Governor Hochul accelerated the downstate licensing process to stimulate economic growth, especially in the wake of the COVID-19 pandemic. As a result, we are now witnessing a thrilling bidding process for the future of casino entertainment in New York City.
Potential Economic Impact
Experts estimate that the three new downstate casinos could generate substantial economic benefits, with projections indicating an annual gross gaming revenue of approximately $4.4 billion. This could position New York City as the second-largest gaming market in the U.S. after Las Vegas.
Conclusion
The race for downstate casino licenses in New York is heating up, and the community and economic commitments from the bidders signal a promising future for the region. As the bidding process unfolds, residents and stakeholders alike are eager to see how these developments will reshape the landscape of entertainment and economic growth in New York.
Summary: New York’s Gaming Facility Location Board has received eight bids for three downstate casino licenses, which promise to bring significant economic benefits, including jobs and community investments, to New York City and surrounding areas. With a projected annual revenue of $4.4 billion, these developments are poised to make New York City’s gaming market a leading contender nationwide.
