The landscape of downstate New York may soon be transformed with the introduction of three new casino facilities, following a pivotal decision by the New York State Gaming Facility Location Board. The board has set a new bid deadline for these proposed casinos to June 27, 2025. However, a piece of legislation awaiting Governor Kathy Hochul’s signature could significantly alter this timeline, bringing with it a slew of implications for the development process.
Legislation in Limbo
A bill with a deadline of August 31, 2024, currently rests on Governor Hochul’s desk. If signed into law, this legislation would override the facility location board’s decision and compel bidders to submit their proposals by the end of summer 2024, truncating the timeline by nearly a year. Authored by Senator Joe Addabbo, the bill known as S9673A has already cleared both the house and senate as of early June.
Such a compressed timeline has prompted concerns from the facility location board. “Politicians may want a quicker deadline, but that would be impractical,” noted Vicki Been, highlighting the board’s stance on the matter. The board has underscored the critical need for all ‘entitlements and zoning’ to be approved before any bid can be reviewed. Essential prerequisites like environmental impact studies and zoning changes must be addressed, especially for proposals like Bally’s Bronx and Steve Cohen’s Queens projects, which require rezoning from their current parkland designations to accommodate casino facilities.
Ambitious Proposals
The stakes are high, with 11 bidders vying to develop casinos in prime locations ranging from Times Square to Brooklyn. These proposals go beyond mere gaming facilities, encompassing resorts, housing units, and neighborhood improvements, thereby promising a comprehensive development plan for downstate New York.
Among the high-profile contenders are:
- 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 variety in these bids includes commercial and tribal operators alike, hinting at a competition both fierce and diverse. The facility location board has expressed optimism that the 2025 deadline would not impede the issuance of licenses by the end of that year. However, the expedited timeline posed by the new bill could complicate matters.
Balancing Deadlines and Development
During a recent meeting, board members acknowledged the potential conflict posed by Bill S9673A but maintained a positive outlook on the situation. “The hope would be that our reasoning will be helpful to the governor,” Vicki Been said, suggesting that the board’s detailed considerations might influence the governor’s decision regarding this crucial legislation.
The board's view is clear: “Because bids cannot be reviewed until all ‘entitlements and zoning’ are approved, the board views the current deadline as unreasonable.” Their caution underscores the complexity of the proposed projects, and the extensive groundwork needed to ensure each bid is viable and beneficial for New York's communities.
The outcome of this bidding process and the impending decision on the bill could drastically reshape the entertainment and economic landscape of downstate New York. It is a moment of anticipation as stakeholders await the governor’s next move, which will either fast-track the casino proposals or allow more time for comprehensive planning and review.
As New York approaches this potential milestone in its development trajectory, the balance between legislative timelines and thorough, responsible development remains at the forefront of the conversation.