The New York State Gaming Commission is poised to grant final approval for three major casino developments in New York City. A meeting scheduled for Monday will determine the fate of these projects, which have navigated a lengthy and competitive bidding process.
Key Takeaways
- The NYS Gaming Commission will hold a meeting on Monday to finalize approval for three full-scale casino sites in NYC.
- The approved locations are Bally’s in the Bronx, and Hard Rock Metropolitan Park and Resorts World New York City, both in Queens.
- These projects are projected to generate billions in tax revenue for the city and state.
A Milestone Vote
The upcoming meeting, to be held at the Robert F. Smith Center for the Performing Arts at Denny Farrell Riverbank State Park in Manhattan and livestreamed, will focus on the "consideration of gaming facilities licensing." This follows the Location Board’s initial approval of the three sites on December 1st. The commission’s vote is expected to be the final step in the licensing process before the end of the year.
These three proposals emerged as the victors from a competitive, years-long process that saw numerous developers and gaming companies vying for a coveted downstate casino license. Some potential bidders withdrew, while others were rejected by community committees.
Economic Impact and Revenue Projections
The approved casino projects are anticipated to significantly boost the local economy. The Location Board estimates that these ventures will generate approximately $7 billion in gaming tax revenue between 2027 and 2036. An additional $5.9 billion in other tax revenues is also expected, with funds earmarked to support public education and transit systems.
"We entered this process with a tabula rasa, and are concluding with three impressive projects that will transform communities, establish career opportunities for residents, and drive much-needed revenue to the MTA, public schools and the city," the commission stated after the initial approvals.
Public Engagement and Meeting Protocols
While the meeting is open to the public, there will be no opportunity for public comment during the proceedings. Officials have also stated that signs, multimedia visual aids, posters, placards, and banners will be prohibited. Protests have occurred at previous bidding meetings, and similar demonstrations are possible.
Further details on the meeting, including livestream access, can be found on gaming.ny.gov.
