The New York Gaming Facility Location Board is scheduled to convene on Monday to evaluate the potential issuance of up to three commercial casino licenses for the downstate area, making progress in a licensing initiative initiated over ten years ago.

The pool of applicants has decreased from 11 to three: a project in Queens supported by Mets owner Steve Cohen paired with Hard Rock International, a proposed development in the Bronx by Bally’s Corp., and an expansion proposal from Resorts World New York City. The five-member board holds no obligation to grant all licenses. Each successful applicant will be required to pay a licensing fee of $500 million and invest at least $500 million in capital. If all three proposals are approved, the state could gain more than $1.5 billion.

Once the board finalizes its recommendations, the state gaming commission is expected to vote by month’s end. They will likely follow the standard state protocol to act on the recommendations.

Cohen’s consortium plans to develop an $8 billion casino complex adjacent to Citi Field in Flushing, featuring a concert venue among other attractions. Developers estimate the project will produce over $1 billion annually in tax revenues and create more than 6,000 permanent jobs, with Hard Rock as a collaborator. Resorts World proposes to transition its electronic gaming facility at Aqueduct Racetrack into a comprehensive casino as part of a $5.5 billion project. This expansion is projected to add 5,000 permanent jobs and generate more than $1 billion in yearly tax revenue.

Bally’s is pursuing approval for a $4 billion casino, hotel, and entertainment venue on the grounds of the former Trump Organization golf course in the Bronx, currently known as Bally’s Golf Links at Ferry Point. The company anticipates the project will attract over 9 million visitors annually, generate nearly $400 million in tax revenue each year, and create about 4,000 permanent jobs. As part of its acquisition strategy, Bally’s would pay $115 million to the Trump Organization upon securing a casino license.

Bally’s Chairman Soo Kim expressed optimism regarding the proposal.

“Everything appears to be in order,” Kim remarked. “We’ve put forth our utmost effort. I believe we lack any vulnerabilities.”

In response to concerns regarding Trump potentially reaping financial benefits from the project, Kim clarified, “Trump receives a fair agreement. The Bronx reaps significant benefits.”

New York voters sanctioned a constitutional amendment in 2013 allowing for up to seven casinos statewide, reserving up to three licenses specifically for the New York City region following the opening of upstate facilities.

Former Governor Andrew Cuomo endorsed casino expansion as a means to capture revenue from New Yorkers who were traveling to gamble in neighboring states.

Research indicates that economic forecasts for casinos do not always match actual results. Nonetheless, operators regard downstate New York as one of the most significant untapped gambling markets in the United States.