NY Gaming Facility Location Board to Set Terms for State Gaming Licenses
The New York Gaming Facility Location Board is preparing for a pivotal meeting on December 1, where it will outline the definitive terms and conditions for applications seeking up to three highly coveted downstate New York gaming licenses. This crucial session will determine the application fee and the detailed requirements for development and licensing bids, marking a significant step in the state’s expansion of its casino industry.
The Path to New York Gaming Licenses
New York State plans to issue a maximum of three full commercial casino licenses for its downstate region. The competition for these licenses is intense, drawing interest from some of the industry’s largest players. Many expect two of these licenses to go to existing “racino” operators who already have established facilities and infrastructure. These include Resorts World New York City in Queens and MGM Empire City Casino in Yonkers. Both venues currently operate video lottery terminals (VLTs) and are eager to upgrade to full commercial casino status, offering table games and expanded gaming options. This leaves just one new license potentially available for a completely new development.
Leading Contenders and Proposed Projects
The prospect of a new downstate license has sparked a flurry of ambitious proposals from various developers and casino giants. Each is vying to secure a foothold in the lucrative New York market.
Among the prominent bids:
- Las Vegas Sands: This global casino powerhouse has proposed a sprawling $4 billion integrated resort at the Nassau Coliseum site. Their vision includes a casino, hotel, entertainment venues, and convention space, promising significant economic revitalization for the area.
- Resorts World New York City: Already a major gaming destination, Resorts World aims to convert its successful VLT operation in Queens into a full-scale commercial casino. This would allow it to offer a complete range of gaming experiences.
- MGM Empire City Casino: Similarly, MGM Resorts International is looking to expand its Yonkers facility from a VLT racino to a comprehensive casino resort. This move would solidify its presence in the metropolitan area.
Other notable bidders include Bally’s, Wynn Resorts, and developers such as Related Companies for a project at Hudson Yards. Even Steve Cohen, owner of the New York Mets, has expressed interest in a development near Citi Field.
Evaluation Criteria and Future Steps for New York Gaming Facilities
The New York Gaming Facility Location Board comprises key state officials, including the Chair of the New York Gaming Commission, the Commissioner of the New New York State Department of Environmental Conservation, the former state Comptroller, and the Commissioner of Economic Development. This diverse group will rigorously evaluate applications based on several critical criteria initially outlined in the Request for Applications (RFA):
- Demonstrated economic development benefits.
- Positive and negative local impacts.
- Potential for job creation.
- Projected revenue generation for the state.
- Level of support from local government officials and community stakeholders.
Following the December 1 meeting, the application window will officially open. The board anticipates making a final decision on the recipients of these significant New York gaming licenses sometime in 2023. The chosen projects are expected to bring substantial investment, tourism, and employment opportunities to the downstate region.
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