The idea of building fast withdrawal casino in New York City has gained significant attention over the years, with developers, politicians, and community leaders weighing the potential economic and social impacts.
In April 2023, officials approved up to three casino licenses for downstate New York, a region that includes New York City, Long Island, and Westchester County. This approval has sparked interest among major casino operators and real estate developers.
Approval Process and Key Players
How Locations Are Decided
The process of selecting casino locations involves multiple layers of approval. The state’s Gaming Facility Location Board plays a pivotal role in reviewing applications. The board’s members include:
- Vicki Been, a New York University professor and former deputy mayor for housing and economic development.
- Quenia Abreu, president of the New York Women’s Chamber of Commerce.
- Stuart Rabinowitz, a lawyer and former president of Hofstra University.
Once the board makes its recommendations, the final decision lies with the New York State Gaming Commission. However, the commission can only reject an application if it identifies issues with the applicant’s qualifications.
Community Involvement
Local support is crucial for any casino proposal. A Community Advisory Committee evaluates each project’s impact through public hearings. In New York City, this committee includes representatives appointed by the governor, mayor, and other local officials. At least two-thirds of the committee members must approve a proposal for it to advance.
Local Leaders’ Positions
Mayor Eric Adams has expressed support for building casinos in the city, highlighting their potential economic benefits. He has suggested that two of the licenses should be awarded to projects within New York City.
Potential Locations
Several high-profile locations are being proposed for casino developments. Each site offers unique advantages and faces distinct challenges.
Hudson Yards
Hudson Yards is being considered for a casino by Related Companies and Wynn Resorts. The proposed location is close to the Javits Center, a major convention hub. The developers aim to attract an upscale audience by integrating the casino with the existing luxury infrastructure.
Times Square
SL Green Realty Corp. and Caesars Entertainment plan to build a vertical casino at 1515 Broadway. This project aims to revitalise the area by improving safety and cleanliness. The developers have proposed deploying advanced surveillance technologies, including drones and artificial intelligence systems, to address concerns about rising crime rates.
Coney Island
Thor Equities Group, along with Saratoga Casino Holdings and the Chickasaw Nation, is advocating for a casino in Coney Island. The proposal envisions a year-round entertainment complex featuring hotels, an indoor water park, and museums. The developers see this as an opportunity to revitalise the area’s beachfront and boardwalk.
Nassau Coliseum
Las Vegas Sands aims to transform the Nassau Veterans Memorial Coliseum into a casino and hospitality complex. The site, located on Long Island, would feature luxury hotels, fine dining, and a day spa. The proximity to New York City and existing infrastructure makes it a strong contender.
Saks Fifth Avenue
The Hudson’s Bay Company plans to convert part of its flagship store in Midtown Manhattan into a high-end casino. This project targets affluent visitors and integrates the casino into a well-established retail and cultural landmark.
Midtown East
The Soloviev Group has partnered with Mohegan to propose a casino near the United Nations headquarters. Their plan includes a museum dedicated to democracy, a large public green space, and a 1,200-room hotel. This project aims to combine cultural attractions with gaming facilities.
Midtown West
Larry Silverstein’s proposed project involves two high-rise towers on 11th Avenue and 41st Street, with a casino at the base. The development would feature mixed-use spaces, integrating gaming with commercial and residential offerings.
Willets Point
Steven Cohen, owner of the New York Mets, has partnered with Hard Rock to propose a casino near Citi Field. This location leverages its proximity to a major sports venue and existing transportation links.
Trump Golf Links
Bally’s Corporation plans to develop a casino at the Trump Golf Links in the Bronx. The project includes rebranding the site to distance it from its previous affiliations, aiming to appeal to local politicians and residents.
|
Location |
Developer(s) |
Unique Features |
|
Hudson Yards |
Related Companies, Wynn Resorts |
Upscale audience, proximity to Javits Center |
|
Times Square |
SL Green, Caesars Entertainment |
Safety improvements, advanced surveillance technologies |
|
Coney Island |
Thor Equities, Chickasaw Nation |
Year-round entertainment complex |
|
Nassau Coliseum |
Las Vegas Sands |
Luxury hotels, day spa, fine dining |
|
Saks Fifth Avenue |
Hudson’s Bay Company |
Integration with a high-end retail landmark |
|
Midtown East |
Soloviev Group, Mohegan |
Museum, green space, cultural focus |
|
Midtown West |
Larry Silverstein |
Mixed-use high-rise towers |
|
Willets Point |
Steven Cohen, Hard Rock |
Proximity to Citi Field, strong transport links |
|
Trump Golf Links |
Bally’s Corporation |
Redevelopment of a large public land site |
Existing Racinos and Their Role
Two existing racinos in the region are frontrunners for two of the three available licenses. These venues are:
- Resorts World New York City in Queens, operated by Genting Group.
- Empire City Casino in Yonkers, operated by MGM Resorts International.
Both racinos already have significant infrastructure and are major employers in their areas. A full casino licence would allow them to expand their offerings to include live table games such as poker and blackjack. Their established presence and strong community ties make them likely candidates for approval.
Economic and Social Implications
The addition of casinos in New York City could bring substantial economic benefits, including increased tax revenue and job creation. However, concerns about social impacts, such as problem gambling and local opposition, remain significant hurdles.
Key Considerations for Approval
- Community Impact: Ensuring that proposed projects align with local interests.
- Economic Benefits: Maximising tax revenue and employment opportunities.
- Developer Reputation: Evaluating the track record of operators and real estate partners.
Challenges Ahead
The competition for licenses is fierce, and the decision-making process is expected to be lengthy. Developers must navigate local opposition, regulatory hurdles, and stiff competition from established players.
While the final decisions are awaited, it is clear that the race to build casinos in New York City is already transforming the landscape of urban development and community planning.
