The bustling landscape of downstate New York could soon witness a transformative shift with the planned introduction of three new casino facilities. The New York State Gaming Facility Location Board has taken a pivotal step by setting a new bid deadline for these establishments to June 27, 2025. This decision marks a substantial movement in the realm of entertainment and economic development for the region.
However, complexity looms over this timeline. A contrasting bill, carrying a deadline of August 31, 2024, now sits on Governor Kathy Hochul’s desk awaiting her decisive signature. Should Governor Hochul sign this bill into law, it will override the facility location board’s decision, subsequently mandating that bidders submit their proposals by the close of summer 2024.
State Senator Joe Addabbo, the bill’s author, designated it as S9673A. The bill already triumphed in passing through both the house and senate in early June. Despite its legislative progress, the ambitious timeline it stipulates has drawn concerns from the facility location board, who have labelled it as impractical.
Challenges and Conditions for Bids
“Politicians may want a quicker deadline, but that would be impractical,” remarked Vicki Been, underscoring the logistical hurdles involved. The board asserts that bids cannot be reviewed until all ‘entitlements and zoning’ are approved. This adds layers of complexity, as environmental impact studies and zoning changes are prerequisite facets that must be achieved before any bid undergoes review.
Particularly challenging are the proposals like Bally’s Bronx and Steve Cohen’s Queens, both of which necessitate rezoning from their current parkland designations to accommodate casino operations. The number of competing bidders heightens the stakes, with 11 contenders vying for prime locales ranging from Times Square to Brooklyn. The proposals extend beyond mere casino facilities, encompassing resorts, housing units, and neighborhood improvements, presented by a mix of commercial and tribal operators.
Proposals and Competing Contenders
The diverse slate of proposals being considered includes:
- Avenir: Silverstein Properties and Greenwood Gaming in Manhattan
- Bally’s Links at Ferry Point: Bally’s Corporation in The Bronx
- Caesars Palace Times Square: Caesars Entertainment, SL Green, and Roc Nation in Manhattan
- Coney Project: Thor Equities, Legends Entertainment, the Chickasaw Nation, Saratoga Casino Holdings in Brooklyn
- Freedom Plaza: Soloviev Group and Mohegan Gaming in Manhattan
- Metropolitan Park: Steven Cohen and Hard Rock International in Queens
- MGM Empire City: MGM Resorts International in Yonkers
- Resorts World New York City: Genting Group in Queens
- Sands New York: Las Vegas Sands in Nassau County, Long Island
- Saks Fifth Avenue: Hudson’s Bay Company, with the operator to be determined, in Manhattan
- Wynn New York City: Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan
The facility location board acknowledged the intricacies and potential conflicts between their bid deadline and the stipulations of S9673A during their Thursday meeting. “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable.” The underlying procedural requirements, coupled with the lengthy zoning and environmental processes, present significant challenges to adhering to the anticipated deadlines.
Despite these hurdles, optimism remains among the board members. They believe that adhering to the new bid deadline will not impede their overarching goal of issuing licenses by the end of 2025. “The hope would be that our reasoning will be helpful to the governor,” expressed Vicki Been, reflecting the board’s strategic outlook.
As these discussions unfold, the entertainment and economic landscape of downstate New York stands on the brink of a substantial metamorphosis. The convergence of high-stakes bidders, extensive development plans, and legislative battles could ultimately reshape some of the state’s most iconic areas, bringing forth a new era of gaming and broader community enhancements. The trajectory of this transformation now hinges on the impending decisions by both the board and the governor.