New York State Gaming Commission (NYSGC) Chair Brian O’Dwyer has revealed the key dates for New York casino licence applicants to remember, as the deadline for any operators to register their interest passes.
In total, O’Dwyer stated that eight applicants have submitted their cases to develop and operate a gaming facility in the Empire State:
- The Avenir
- Bally’s New York Casino
- Caesars Palace Times Square
- The Coney
- Freedom Plaza
- MGM Empire City
- Metropolitan Park
- Resorts World New York City
However, since these projects will have significant social and economic impacts, only applicants who have secured both zoning and community advisory committee approval will be eligible, and the timetable to receive such approval runs out at the end of September.
“Each project must obtain all local entitlements, including zoning approval, and be approved by a specific Community Advisory Committee of appointees of the elected officials representing the proposed facility’s location,” noted O’Dwyer.
“Only those projects that meet both statutory requirements – zoning and community advisory committee approval – by 30 September 2025 will be considered by the Gaming Facility Location Board. This ensures that only those projects embraced by the community are placed before the board for consideration.”
Committees are expected to be up and running in the coming weeks, holding public hearings throughout the summer to understand the public’s opinions on respective projects in their areas, before a formal vote to determine whether a project can go ahead.
The Chair noted that any project which doesn’t receive its community advisory committee’s approval will not progress to the next stage.
Once projects have community advisory committee approval, the Gaming Facility Location Board will assess the applications. Three projects will then be selected by 1 December, followed by Commission licensure to ensure the state collects the already-booked casino licence fee ahead of schedule.
Tax contributions
Tax revenue collected from new facilities will go towards New York public schools, mass transit, local governments, and problem gambling treatment services, while the jobs created by the new establishments will support local families.
Jobs created are expected to be in the thousands per venue, while tax revenue could be in the high hundreds of millions per year.
As part of its release announcing the submission of its proposal, Caesars Entertainment noted that its Times Square location is expected to create more than 3,800 permanent jobs, over 3,000 construction jobs and $7bn in direct tax revenue in the first 10 years of operation.
Collaborating with SL Green, Roc Nation and Live Nation on the project, Caesars Palace Times Square is also forecasting a $5.4bn total direct investment, more than $23.2bn in gross gaming revenue in the first 10 years, as well as help generate $26.7bn in local economic activity in the first decade.
The project is also committing $250m directly to community projects, while it anticipates boosting Broadway annual revenue by $124m through additional tickets being sold.
“Caesars Palace Times Square builds on a long history of building world-class destinations that drive tourism, create jobs, and deliver lasting value to the communities we serve,” said Thomas R. Reeg, CEO of Caesars Entertainment.
“New Yorkers have the opportunity to do something truly extraordinary right in the heart of the most iconic entertainment district in the world. This proposal brings together an unmatched location, unmatched access, and unmatched team to deliver a project worthy of New York.”
Opposition to Times Square, Freedom Plaza casinos
However, not everyone is for the casinos being built in their respective communities, as a coalition of Times Square stakeholders came together last week to protest against the construction of Caesars Palace Times Square.
According to the New York Post, Jason Laks, President of the Broadway League, stated: “We don’t need a casino to bring this neighbourhood back. A casino in the heart of Times Square would only set this area back.”
Meanwhile, the Local79 union have spoken out against Freedom Plaza, which is set to be built near the United Nations by Mohegan and the Soloviev Group, due to its proximity to a public school and residential neighbourhoods.
Other NY casino projects
Elsewhere, Bally’s Corporation has announced a $4bn Bally’s Bronx project in the Bronx, to which it will contribute $625m for community projects, 15,000 construction jobs, 4,000 permanent jobs, $1.9bn in annual economic impact and $357m in annual tax revenue.
Soo Kim, Chair of Bally’s Corporation, stated: “New York, it’s time to Bet on the Bronx. Bally’s is prepared to make the largest private investment in the borough’s history, and with it a long-term commitment to community benefits for Bronx residents.”
MGM Yonkers, a MGM Resorts International subsidiary, has also submitted a $2.3bn proposal to transform its Empire City Casino site as part of its commercial casino license application.
Meanwhile, The Avenir – a collaboration between Rush Street Gaming, Greenwood Gaming and Entertainment and Silverstein Properties near the Javits Convention Center in Manhattan – will target $160m towards supporting community programmes by its eighth anniversary of operations.
