Eight bidders are still in contention for three downstate New York casino licenses as the June 27 application deadline approaches.
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Eight bidders are still in contention for three downstate New York casino licenses as the June 27 application deadline approaches.
Those left include Bally’s Bronx, Caesars Palace, Resorts World, Empire City, Freedom Plaza, and Metropolitan Park. A final decision is expected by the end of the year.
Key takeaways
- Eight bidders remain for three New York downstate casino licenses.
- The New York City Council backed Bally’s application, but Wynn and Las Vegas Sands withdrew proposals recently.
- The application deadline is June 27.
The application process started in early 2023, following Gov. Kathy Hochul’s decision to prioritize an expansion of the casino sector as part of the 2022 state budget. However, the idea dates back to 2013 and the first expansion discussions.
New York legalized land-based casinos and has several locations upstate. Although online casinos aren’t allowed, New York online sports betting is available statewide.
Wynn and Las Vegas Sands out of the running for NY casino licenses
One company no longer in the running is Wynn Resorts. Last month, Wynn Resorts dropped its plan to develop a casino resort in Hudson Yards, Manhattan, in partnership with Related Companies. According to the company, persistent opposition to its project made the decision inevitable.
Wynn Resorts was another major casino operator that recently bowed out of the bidding. In April, Las Vegas Sands announced it wouldn’t pursue a license to operate a casino at the Nassau Coliseum on Long Island. In that case, the company cited the possibility of competition from legalized online casino gaming, should this be legalized at some point.
Wynn Resorts and Las Vegas Sands aren’t the only companies to complain about the casino license process. Some reports suggest senior executives from over half a dozen operators alleged that the lengthy and expensive process was highly politicized.
Bally gets approval from NYC Council
One rival operator, Bally’s, appears to be in a strong position to get a license, after it earned the New York City Council’s approval for its proposal to build a casino in the Bronx. The plan would use the site of a golf course Bally’s owned, although it met strong opposition from local leaders and residents.
The company paid $60 million to gain the lease on the land, and would be in line to pay another $115 million if its bid is accepted. The reclassification of land to get the casino plan approved still needs to pass through further checks from lawmakers before getting the greenlight.
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