New York is preparing for a significant expansion in gambling, with plans to issue three new casino licences. This decision marks a shift from previous limitations that delayed online casino development at nogamstopcasinos.org.uk in the downstate region until 2025.
In April 2024, New York State approved accelerating the process, raising expectations for new casino developments in the area.
Probable Locations for New Casinos
Yonkers and Queens Lead the Race
Empire City Casino in Yonkers and Resorts World at Aqueduct Racetrack in Queens are seen as strong contenders for two of the licences. Both locations already host racinos, facilities that combine horse racing tracks with casino-style gaming. These sites have existing infrastructure and strong community ties, making them prime candidates for upgrades to full-scale casinos.
Manhattan as a Potential Site
Manhattan could host the third casino, but significant challenges remain. Developers have shown interest in various locations, from Hudson Yards to the East River. However, local political resistance may complicate efforts. Other boroughs, including Brooklyn and additional areas in Queens, are also being considered.
Key Players in the Bidding Process
Several developers and operators are preparing bids for these licences. Some notable participants include:
- MGM and Genting: Operators of the Yonkers and Queens racinos, respectively, aiming to enhance their facilities.
- SL Green, Related Companies, and Vornado Realty Trust: Developers exploring opportunities in Manhattan.
- Steven Cohen: The owner of Citi Field, eyeing a potential site in Queens.
- Joseph Sitt: Chairman of Thor Equities, interested in a Coney Island project.
- Other Operators: Bally’s Corporation, Las Vegas Sands, and Hard Rock, which recently opened a hotel in Midtown.
Selection Process for Casino Licences
The licensing process involves multiple layers of bureaucracy:
- New York State Gaming Commission
- Oversees the entire process and ensures compliance.
- Appoints the five-member Gaming Facility Location Board.
- Gaming Facility Location Board
- Develops application criteria and reviews submissions.
- Recommends winners to the Gaming Commission.
- Community Advisory Committees
- Six-person panels evaluate applications locally.
- Require a two-thirds majority for approval.
Timeline and Costs
The Gaming Commission will fill the location board by October 2022, triggering a 90-day period for issuing requests for applications. Licences will only be granted after a thorough review process and local approvals. Successful applicants must pay a licence fee of at least $500 million.
Challenges for Casino Development
Zoning Regulations
Most land in New York City does not permit casinos, requiring rezonings for proposed sites. This involves a lengthy approval process through the New York City Council. However, state-owned lands, such as the Aqueduct Racetrack, might bypass local zoning laws.
Community Resistance
Approval from community advisory committees is mandatory. Local opposition can block a project even before it reaches the Gaming Commission.
Economic Implications
While the United States faces an oversaturated casino market, New York City presents unique advantages. Its population density, wealth, and status as an international destination ensure strong potential revenue. For example, Resorts World in Queens claims to be the highest-grossing slots casino globally and the largest taxpayer in New York State.
|
Location |
Current Use |
Strengths |
Challenges |
|
Yonkers |
Racino |
Established community and infrastructure |
Limited space for expansion |
|
Queens |
Racino |
High revenue and strategic location |
Requires approval for full casino licence |
|
Manhattan |
Potential new sites |
Central location and tourist appeal |
Strong political resistance |
|
Coney Island |
Potential new site |
Historic location and developer interest |
Requires significant zoning changes |
Future Prospects
The introduction of casinos in the New York City area has the potential to reshape the local economy and entertainment landscape. However, the process faces numerous hurdles, including zoning issues, community approval, and political challenges. With heavy competition among developers and operators, the eventual outcomes will have lasting impacts on the region’s gambling industry.
FAQ
What are the proposed locations for the new casinos?
Empire City Casino in Yonkers, Resorts World at Aqueduct in Queens, and potentially Manhattan are the top contenders.
Why are Yonkers and Queens considered strong candidates?
Both locations already host racinos with established infrastructure and community ties, making them well-positioned for upgrades.
What challenges does a Manhattan casino face?
Political resistance and zoning regulations are significant obstacles for a casino in Manhattan.
Who will decide where the casinos are built?
The New York State Gaming Commission, Gaming Facility Location Board, and community advisory committees will determine the locations.
How much does a casino licence cost?
Successful applicants must pay at least $500 million for a licence.
What makes New York City attractive for casinos?
Its dense population, affluence, and international appeal make it a lucrative location for gambling operations.
