The excitement builds as the New York Gaming Facility Location Board prepares to cast its votes on Monday, awarding up to three highly sought-after casino licenses for downstate New York. The competition has narrowed from an initial 11 bidders to just three, but there is no guarantee that any of the remaining candidates will receive a license, as the five-member board has the discretion to withhold approval altogether.
Among the contenders is Mets owner Steve Cohen, who aims to develop an $8 billion casino complex adjacent to Citi Field in Flushing, Queens. This ambitious project is in partnership with the Hard Rock Metropolitan Park group and promises a concert hall along with various entertainment amenities.
Bally’s Corporation is also in the running with a $4 billion proposal to establish a casino on a former golf course that was once owned by former President Donald Trump. Meanwhile, Resorts World is looking to invest $5.5 billion in expanding its existing facility located at the Aqueduct racetrack in Queens, which already offers parlor games.
Each applicant is required to pay a hefty $500 million licensing fee and commit to at least $500 million in capital investments for their proposed projects. This substantial financial commitment is seen as a much-needed boost for New York’s cash-strapped budget, with the Hochul administration eager for the revenue that successful bids will bring, despite the pushback from anti-casino activists.
While representatives from the Cohen-Hard Rock and Resorts World proposals declined to comment, Bally’s chairman, Soo Kim, expressed optimism about his chances of securing a license. He stated, “We put our best effort out there. I don’t think we have any weak spots.”
Bally’s acquisition of the former Trump golf course, now known as Bally’s Golf Links at Ferry Point, is part of a larger strategy. If Bally’s is successful in obtaining a casino license, they have also agreed to provide an additional $115 million to the Trump Organization.
Amidst the excitement and anticipation, Kim dismissed concerns regarding Trump’s potential profit from the project, emphasizing that “Trump gets a fair deal. The Bronx gets a great deal.”
As the board’s decision looms, the fate of these significant casino projects hangs in the balance. For ongoing updates on local news and developments, stay connected with hiphopraisedmetheblog.com.
