The year 2026 marks 250 years since the Declaration of Independence, so it is somewhat fitting that a new installation, called the Path of Liberty is being planned for First Avenue, near the UN headquarters building. The site is owned by the Soloviev Group fronted by Michael Hershman, and the group plans to submit a bid to be granted one of the three New York casino licenses that are set to be granted next year.
New York Gambling Regulations
New York has reasonably advanced online gambling regulations. It opened up mobile sportsbook betting in 2022, but the legislation did not include online casino regulation, which is now not expected to pass until at least 2025.
In the meantime, players in the state can still play at licensed land-based casinos or on offshore iGaming platforms, including those that offer a withdrawal under 1 hour. Offshore casinos are still regulated, but overseas. They provide the same bonuses and discounts as US-based sites, as well as access to a wide range of games, too. The users who prefer simpler (or no) registration procedures and a swift gaming experience are embracing such platforms; still, some other citizens of the State of New York remain loyal to their local, traditional casinos.
New York Casino Licenses
So, while the NY iGaming regulation will have to wait, one area that is progressing, albeit quite slowly, is the establishment of more physical casinos. In 2013, the state permitted the granting of up to seven retail casino licenses. Four casinos were subsequently built, but the three remaining licenses are still unclaimed.
Three Licenses Left
In 2022, three years after sports betting was regulated, new rules and guidelines for the licensing of casinos was put forward. There is a somewhat convoluted process that needs to be adhered to. The Gaming Facility Location Board will ultimately decide which proposals will be granted licenses, but these proposals must first pass Community Advisory Committee consultation.
This will include the setting up of a forum to include local groups and those that would be affected by the installation of new casinos. At least two open meetings must be held to include all relevant groups. No proposals have been formally approved yet, although they are expected by Spring next year after Gov. Kathy Hochul recently rejected the opportunity to expedite the process and bring the decision-making forward.
The licenses will likely be granted about a year from now. Approximately ten groups are known to be interested in submitting proposals and are currently in discussion with the Gaming Facility Location Board.
The Soloviev Group And The Path Of Liberty
It is known that The Soloviev Group is interested in submitting a proposal for a license. They own a site on First Avenue, near the UN headquarters building. Most recently, the site housed a walk-through installation that included 17,000 lights and group chief executive Michael Hershman has said that this will be replaced by another installation to celebrate the 250th anniversary of the signing of the Declaration of Independence.
The anniversary isn’t until 2026, but Hershman has said that, initially, the location will house giant video screens showing video interviews with members of the public. The installation is being designed by C&G Partners and managed by Daniella Vale. Vale gathered video interviews by traveling the country and speaking to members of local communities.
Hershman has said that he wants to celebrate the anniversary, rather than politicize it, which is how feels the 250thcelebrations have been treated so far.
Casino Proposals
Hershman went on to say that he would do nothing further with the site until he learned the outcome of the licensing proposal, suggesting that if the group’s proposal is rejected, Soloviev Group would revert to original plans to build apartments and commercial space on the site.
Soloviev is partnering with Bjarke Ingels Group and Mohegan to launch their casino bid. The proposed development will span three blocks south of the UN building. The site was a power plant that was decommissioned and graded in 2007. Since then, it has remained largely unused, apart from the recent installation.
The team has said they plan to build a gaming facility and that the site will include a host of other venues and businesses, housed below a 4.77 acre park. There will be two residential towers with more than 1,300 apartments, two hotels, and conference center, and a Museum of Freedom and Democracy.
Times Square Proposals Come Under Fire
Groups planning proposals need to be conscious of objections from local groups, as these could have a substantial say in whether proposals are ultimately successful. One group that has been met with substantial resistance recently is Caesars Entertainment’s planned development in Times Square.
Experienced casino owners Caesars has joined forces with SL Green and Jay-Z’s Roc Nation. The United Federation of Teachers has lent its voice to the No Times Square Casino Coalition, stating that there are six schools within walking distance of the proposed site.
Previously, The Broadway League has opposed the move. A Caesars spokesperson countered this by saying that a casino would bring new, affluent visitors to the area and that it would benefit Broadway. They also pointed out that Actors Equity and Local 802 had given the casino their support.
Conclusion
With up to three licenses up for grabs and a likely 10 proposals to be put forward, competition is going to be fierce. And, with a decision being many months away, there is likely still a lot of wrangling and jostling ahead with groups attempting to appease locals and putting forward bids that would benefit their local areas while also having the potential to generate big profits for them.
Soloviev hopes that combining a gaming venue with commercial and residential spaces – and crowning it with a giant park – will help it win one of those coveted licenses. That the site has largely sat unused for 15 years may also help them win favor with local powers and decision-makers.
0
20
20
