New York Regulators Shed Light on Casino Bidders’ Queries

Posted on: August 31, 2023, 02:44h. 

Last updated on: August 31, 2023, 02:44h.

The New York State Gaming Commission (NYSGC) and the Gaming Facility Location Board (GFLB) have provided an extensive response to queries submitted by applicants for the downstate casino licenses. The document, spanning 103 pages, covers a range of topics including applicant formatting, background investigations, capital investments, and community advisory committees. The regulators also emphasized that applications are subject to New York State’s freedom of information laws.

New York casino
An artist’s rendering of Las Vegas Sands’ Long casino plan. New York regulators finally answered applicants questions about downstate casino proposals. (Image: Las Vegas Sands)

The document revealed that eleven companies, including industry giants like Caesars Entertainment, Las Vegas Sands, Hard Rock International, and Wynn Resorts, are competing for the three New York City-area casino permits. However, there is speculation that Resorts World New York in Queens and MGM Resorts International’s Empire City Casino in Yonkers already have a strong chance of securing two of the licenses.

While the initial response from the regulators provides some insight for operators, more details are still needed. The Gaming Commission has not set a deadline for responding to the second round of inquiries, and the initial answers were lacking in certain areas such as policies concerning community advisory committees (CACs). Zoning and CAC approvals are crucial for operators before the GFLB evaluates proposed casino sites.

Despite the uncertainties, time is of the essence for New York regulators as the winning license holders will be required to pay an upfront fee of $500 million each, resulting in a total of $1.5 billion for the state. This significant revenue does not include the additional $500 million minimum that must be directed towards the projects themselves, nor the economic benefits in terms of job creation.

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