On Monday, in a unanimous decision, New York’s Gaming Facility Location Board endorsed all three remaining proposals for downstate casino licenses at a public meeting held at the CUNY Graduate Center in Manhattan. The board approved Bally’s Corporation for a new resort in the Bronx, Genting Group’s Resorts World New York City at Aqueduct, and the Metropolitan Park initiative near Citi Field, led by New York Mets owner Steve Cohen in conjunction with Hard Rock. The recommendations will be forwarded to the New York State Gaming Commission, which is anticipated to grant final approval on December 31.
This decision concludes an extensive competitive process that started after state lawmakers approved three full casino licenses for the New York City region in the 2022 budget. With the vote on Monday, the downstate competition is effectively concluded: one project in the Bronx and two in Queens, promoted by Bally’s, Genting, and Steve Cohen’s Metropolitan Park initiative, have been chosen over competing bids from Manhattan, Brooklyn, and Yonkers. State and local officials project that these three developments will generate billions in investments, create tens of thousands of jobs, and provide ongoing funding streams for public transport and educational services.
Governor Kathy Hochul applauded the decision, emphasizing that each project needed to demonstrate clear and lasting advantages for its host community and the broader state.Vicki Been, the board’s chair, stated that the panel determined supporting all three finalists aligned best with New York’s economic and social goals, following community hearings, site visits, and thorough financial assessments.
Under the agreed framework with lawmakers, each successful bidder will pay a significant upfront licensing fee – reported by local media as $500 million for each project, totaling $1.5 billion – in addition to ongoing tax payments tied to gaming revenue. A large portion of these funds is designated for the Metropolitan Transportation Authority, and further contributions are expected to uplift education and other public sectors.
Bronx Expansion: Bally’s at Ferry Point
One of the most highly anticipated approvals involves Bally’s proposal to establish a comprehensive casino resort at the city-owned golf course at Ferry Point, with views of the East River and the Whitestone Bridge. This initiative will convert part of the former Trump-branded course into a multifaceted destination that combines gaming, lodging, dining options, entertainment venues, and landscaped public spaces. Bally’s Corporation, headquartered in Rhode Island, aims to extend its growing presence in the U.S. by opening its first full-scale casino in New York City.
A pivotal aspect of the project revolves around dissolving previous agreements tied to the Trump Organization. Reports from New York media indicate that Bally’s has consented to a considerable additional payment – up to $115 million – related to the transfer of contractual rights at the site, contingent on the casino license’s approval. This payment, coupled with several billion dollars in anticipated capital investments, underscores the company’s commitment to establishing the Bronx as a gaming and entertainment center.
Advocates of the Ferry Point project assert it will be the cornerstone of a significant jobs and infrastructure initiative in one of the city’s most economically challenged boroughs, with thousands of union positions anticipated during both construction and operational phases. However, critics, including some local activists, express concerns regarding traffic, environmental ramifications, and the overall societal impacts of situating a large casino complex on valuable waterfront land. This discourse is likely to continue as the project advances into detailed city-level land-use, zoning, and permitting evaluations.
Queens Hub: Resorts World’s Comprehensive Upgrade
The second license recommendation endorses the evolution of Resorts World New York City at Aqueduct Racetrack in Queens from a video lottery terminal “racino” into a full-fledged Class III casino. The operator, a part of the Malaysia-based Genting Group, has operated the venue for over a decade and asserts its capacity for quick conversion and expansion once a full license is secured.
Following Monday’s decision, company leaders expressed that the board’s vote represents the culmination of more than 15 years dedicated to fostering jobs and tax revenue in Southern Queens. Resorts World’s most recent proposal anticipates a multi-billion dollar investment in live table gaming, hotel expansions, enhanced entertainment options, and new dining venues, while preserving existing racing operations at Aqueduct. The operator has indicated that significant elements of the upgraded casino could launch shortly after final approval, greatly increasing contributions to the MTA and educational funds in the near future.
Given that the resort is already operational and has a sizeable local workforce, supporters argue that its upgrade provides a quicker path to increased tax revenue and job creation than constructing a new property entirely. The proposal has generally gained more support than opposition during earlier advisory discussions, although local officials have emphasized the need for continued attention on responsible gambling and traffic management as the facility expands.
Citi Field Ambition: Metropolitan Park in Queens
The third winning selection is the Metropolitan Park project, an ambitious mixed-use casino and entertainment scheme intended for parking zones adjacent to Citi Field in Queens. Led by Mets owner and hedge fund manager Steve Cohen, in collaboration with Hard Rock, this initiative seeks to revitalize a significant area of currently underutilized land surrounding Flushing Bay into a destination resort featuring a casino, hotel, performance venue, fresh open spaces, and a variety of dining and shopping options. The project, with an estimated cost in the high single-digit billions, aims to secure one of three sought-after downstate licenses alongside Bally’s and Genting.
Supporters of the Metropolitan Park initiative portray it as a once-in-a-lifetime chance to transform the waterfront, enhance access, and establish all-year economic activity beyond baseball season. The bid includes a community-benefit component with commitments to union jobs, local hiring practices, environmental improvements, and over $1 billion in proposed community investments, according to data presented by project advocates after the vote. Proponents within the Queens government characterize the initiative as integral to the borough’s broader transformation into a prominent entertainment and tourism destination.
Conversely, several community groups and activists remain doubtful, expressing concerns about traffic congestion, gambling-related issues, and the long-term balance between privately-led development and public spaces. These apprehensions surfaced throughout the advisory phase and are expected to resurface as the project undergoes city council evaluation and state environmental scrutiny.
New Competitive Landscape for the Northeast
Collectively, the three approvals signify a pivotal transition in the competitive landscape for casinos in the northeastern United States. Historically, New York City has relied on limited electronic gaming at racinos and tribal and commercial casinos situated hours from Manhattan, with Atlantic City and establishments in Connecticut and Pennsylvania serving as dominant regional attractions. Once Resorts World’s comprehensive upgrade is finalized and the new Bronx and Citi Field resorts are launched, New York will host a trio of comprehensive casino destinations within its own metropolitan zone, spearheaded by Bally’s, Genting, and Steve Cohen’s Metropolitan Park collaboration.