Deadline for New York’s Three Downstate Casino Licenses Passes

What began as 11 bidders for three downstate casino licenses whittled down to eight when the June 27th deadline emerged. The coveted licenses are expected to be awarded in December, but until then, billions of dollars are at stake, with all of them promising to transform their communities and provide an economic boon to those neighborhoods.

The Bids Are In

Eight bidders made the 4 PM, June 27th deadline, of which three projects are in Manhattan, two in Queens, and one each in Brooklyn, the Bronx, and Yonkers. It should be noted that there are two slot parlors already running in New York City, but the Genting-owned Resorts World at Aqueduct Raceway is one of the favorites to secure a license.

Below is a snapshot of all the bidders.

Resorts World/Aqueduct

Genting is a Malaysian gaming giant whose Resorts World Casino New York City is only one of two racinos in the area that already boasts slot machines and electronic table games.

Should they get one of the three full gaming licenses, they would expand the area, market it as a tourist destination, and spend $5.5 billion on a new hotel and gaming section that would include table games. Because it already bills itself as the nation’s most successful casino, it would be ready earlier than all the others.

Yonkers

MGM Resorts operates the city’s other racino, known as the Empire City Casino at the Yonkers Raceway, which features harness racing.

Like Resorts World, the transformation to a full-blown casino would be swift. A 5000-seat capacity entertainment venue would be added to the facility in the event it were to receive one of the three licenses.

Citi Field

Mets owner Steve Cohen and Hard Rock International have an $8 billion entertainment vision should they receive one of the licenses.

The duo has pledged millions to the community and has committed to building middle-class housing, and has launched a strong bid to attain one of the licenses.

U.N./East Side

The Mohegan Sun is one of two casinos in Connecticut and is also the driving force behind putting its name on the map with a casino project led by the Soloviev Group.

Freedom Plaza, as it has become known, will boast two hotels and more than 1,000 housing units and will be located on the East Side between 38th and 41st streets.

Times Square

The group led by SL Green, Caesars Palace, and Roc Nation would be ensconced in Times Square at 1515 Broadway.

It is considered one of the smallest venues, but even so, there has been pushback from several local groups concerning the traffic congestion it would cause.

West Side

This is the group headed by the World Trade Center developer, Larry Silverstein, along with Rush Street Gaming and Greenwood Gaming, while Hyatt would be responsible for establishing the 1000-room hotel.

The location of the casino resort would be in a skyscraper located at 41st Street and 11th Avenue.

Bronx

Providence-based gaming concern Bally’s already operates Bally’s Links at Ferry Point. However, it has paid its application fee to include a casino on its property and a 500-room hotel.

Should they be granted one of the licenses, they would owe the former golf club owners, the Trump organization, $115 million per the agreement.

Coney Island

Already dubbed The Coney, this casino resort would include a 500-room hotel replete with 20 restaurants and nearly 100,000 square feet of convention space. Thor Equities, Saratoga Casino Holdings, and the Chickasaw Nation are overseeing this project.

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