Published on: December 2, 2025, at 02:25h.

Last updated on: December 2, 2025, at 02:25h.

• The New York Gaming Facility Location Board conducted a thorough evaluation of all casino proposals
• Ultimately, the Board endorsed all three qualifying bids for licensing
• The Board anticipates that the downstate New York casino sector will evolve into one of the most lucrative gaming markets in the nation

What was initially deemed the most promising gaming market opportunity since Macau in China a quarter-century ago ended up being quite uneventful, with only three qualified bids submitted in the competitive process for the downstate New York casino licenses.

The five-member New York Gaming Facility Location Board, which operates without pay, was charged with the responsibility of determining the placement of licenses. However, as the number of casino contenders dropped from over a dozen to just three, the selection process became almost straightforward. Although the state gaming law did not obligate the Board to approve any of the proposals, the pledged economic advantages were too significant to ignore.

In a detailed 30-page document explaining its rationale for recommending all three bids, the Board disclosed that it meticulously analyzed “120,000 pages of application materials” and collaborated with numerous consultants to verify each casino proposal’s job creation, tax revenues, and economic forecasts.

“The Board sought expert advice regarding the revenue-generating potential of the proposed gaming facilities, as well as insights into financing structures, potential impacts, and plans for mitigation. Factors such as revenue forecasts, the risk of cannibalizing existing gaming environments, the influence of new competitors in the downstate region, and qualitative aspects related to the appeal of each new commercial casino, including design and operational expertise, were all scrutinized,” elaborated the Gaming Facility Location Board’s Selection Document.

Ultimately, Bally’s Bronx, Metropolitan Park, and Resorts World were all recommended to advance to the New York State Gaming Commission for licensing consideration.

The news was met with discontent by some New Yorkers opposed to gambling, who voiced their displeasure with shouts of, “Shame on you!” as they exited the CUNY Graduate Center’s Proshansky Auditorium.

Board’s Commitment to Thorough Evaluation

As the applicant pool for New York casinos was reduced to just three candidates, some believed this made the Board’s task easier, eliminating the need for a comparative selection process. However, the statute established by the State Legislature mandated that only casinos promising a “substantial fiscal benefit” through new tax revenues, job creation, and heightened economic activity would receive approval, necessitating a rigorous review process.

Consequently, the Board stated that it undertook significant efforts to ensure each surviving bid would meet this requirement.

“The Board and its advisory committee executed thorough evaluations of the Applicants’ market analyses and formed independent assessments of the regional gaming landscape. This included comparative evaluations of the revenue estimations provided by applicants, tax forecasts, and the competitive landscape under diverse licensing scenarios. The applicants were mandated to present initial forecasts as well as supplementary analyses, factoring in the current competitive environment, allowing the Board’s advisors to simulate different scenarios with one, two, or three casino licenses alongside existing video lottery terminal and commercial casino venues. This comprehensive analysis took into account the risks of cannibalization, recovery of out-of-state gaming expenditures, and the overall gross gaming revenue to gauge the contribution of each proposal to state and local gaming tax revenue. The findings offered a solid foundation for the Board to evaluate fiscal impacts and sustainable market dynamics across various competitive conditions,” detailed the Board.

Concerns arose regarding the financial viability of Bally’s ambitious $4 billion proposal for the Bronx, with the Board carefully assessing the financial structures proposed by each applicant as part of their evaluations.

High Revenue Anticipations

As three casinos are anticipated to open, advisors for the Gaming Facility Location Board project that downstate New York’s casino revenue could soar to $5.5 billion annually by 2033, marking the anticipated year of market stabilization.

With an expected $5.5 billion in live casino revenue, the downstate New York market would rank as the second-largest commercial casino market in the United States, following only Las Vegas.