Published on: December 16, 2024, 07:00h.
Last updated on: December 16, 2024, 01:00h.
Residents in the Bronx, NY are divided over the potential of a Bally’s casino hotel coming to their borough.
Christopher Jewett, senior vice president of corporate development at the regional casino operator, recently told News 12 that many people in the Bronx are already engaging in some form of wagering and on that basis, it makes sense to keep those tax dollars local where the receipts can potentially be used for projects that benefit the community at large.
That’s a familiar argument when it comes to domestic gaming expansion, but not all members of the community concur. One Bronx resident told the media outlet a local casino would be a “destabilizing influence on a neighborhood.”
On the other hand, some borough residents believe the Bally’s gaming venue could revitalize the local economy with the promise of 3,500 new jobs. Job creation and increased tax revenue are competing with fears of harms caused by easy access to wagering, among others, in nearly all of the more than 10 downstate casino bids.
Bally’s Faces Additional Challenges in the Bronx
Bally’s paid $60 million to the Trump Organization — the president –elect’s business empire — to acquire the lease on Trump Golf Links at Ferry Point in the Bronx. The course is now known as Bally Links, but the gaming company isn’t in the business of running golf courses.
Its core competency is managing casinos and that’s why it bought the lease on the golf course — to put a gaming venue on the property. As is the case with nearly all of the downstate casino bids, operators’ objectives are easier to vocalize than accomplish.
In the case of Bally’s, it needs politicians to sponsor legislation that would vacate the golf course’s parkland designation. Earlier this year, Assemblyman Michael Benedetto (D-The Bronx) represents the district that includes Ferry Point and he said he’s not proposing a bill to remove the parkland classification. Other lawmakers could sponsor bills to assist the gaming company.
If that occurs, it could pave the way for the gaming company to purchase the land on which the course resides and build a casino hotel on the land currently occupied by the clubhouse and the parking lot. It’s widely believed that any operator vying for one of the three New York City-area casino permits must have land use issues taken care prior to submittal of applications because state regulators are expected to view related hang-ups in an unfavorable light.
Evaluating Bally’s Bronx Casino Chances
Thus far, no progress has been made on opening the bidding window for the three downstate licenses, indicating it’s challenging to determine which proposals could emerge successful. It’s anticipated the process will be completed by the end of next year, some experts believe it could extend into 2026.
Speculation suggests that MGM Resorts International’s Empire City Casino in Yonkers and Resorts World New York in Queens are likely to secure two of the three permits, but regulators haven’t commented on that matter.
Assuming this is accurate, it implies only one license is available. In summary: the Bally’s bid is viable, but the competition is intense.