New York Casino Race Intensifies: Winners to be Announced Soon
URGENT UPDATE: New York’s high-stakes casino race is reaching a critical juncture as the state’s Gaming Facility Location Board (GFLB) prepares to announce up to three winners from four remaining contenders. The decision, set for December, promises to reshape the future of downstate gaming, potentially bringing billions in investments and creating thousands of jobs.
The GFLB convened its first official meeting on Wednesday to assess the finalists’ proposals, each aiming to transform the New York metropolitan area. The board comprises five members, experts in finance, economic development, and housing, who will engage in closed-door discussions to evaluate the bids. Once recommendations are made, the New York Gaming Commission will finalize the winners.
According to Spectrum News, board chair Vicki Been, a former deputy mayor under Bill de Blasio, emphasized that community enhancement and financial stability will play crucial roles in the decision-making process. The stakes are high, as each proposal not only aims to revitalize the local economy but also to secure long-term financial benefits for residents.
After a lengthy selection process marked by public hearings and local advisory votes, only four finalists remain: Resorts World New York City in Queens, operated by Genting; MGM Empire City in Yonkers; Bally’s Bronx; and Metropolitan Park, a Queens initiative backed by Mets owner Steve Cohen.
The board is not obligated to select all three winners, raising the possibility of fewer than expected. Each applicant must submit final supplemental materials, including proposed tax structures and economic projections, by October 14. The evaluation will likely focus on job creation, financial impact, and development feasibility.
Resorts World and MGM Empire City are viewed as frontrunners due to their established video lottery terminal (VLT) operations, which generate significant revenues and can be expanded. Conversely, Bally’s Bronx and Cohen’s Metropolitan Park have garnered attention for their ambitious redevelopment plans and community investment pledges.
As the board prepares to make its decisions, the anticipation builds in communities across New York. Whichever projects are selected will not only bring new economic opportunities but will also significantly alter the gambling landscape in the state.
Stay tuned for updates as this pivotal moment in New York’s casino race unfolds. The future of downstate gaming hangs in the balance, and residents are eager to see which proposals will pave the way for a brighter economic future.
