The pool of downstate New York casino hopefuls was whittled this year from 11, to eight, to four and now three finalists have reached the final hurdle. The New York Gaming Facility Location Board (GFLB) announced on Monday that it is recommending Bally’s Bronx, Metropolitan Park and Resorts World NYC for licensure.
All three will now move on to the last round of consideration by the New York State Gaming Commission (NYSGC). The commission is to make its final licensing decision by 31 December. Up to three downstate licences may be awarded, at a minimum cost of $500 million each.
Most of the meeting was procedural – GFLB’s announcement and remarks lasted all of about 10 minutes. The board has been convening weekly behind closed doors since 8 October.
Board chair Vicki Been said in prepared remarks that the group “determined that awarding all three licences best advances the state’s long-term economic, fiscal and community objectives”.
This question of whether all three projects would advance had become increasingly uncertain as the process unfolded. Several previous applicants voluntarily withdrew and two of the three remaining finalists – Metropolitan Park and Resorts World – are both in Queens, raising questions about cannibalisation from competition. The final licensing decision now rests with the NYSGC.
In any case, board members were met with vitriol following the announcement. Chants of “Shame on you!” broke out at the meeting for several minutes until the shouters were removed. It was not immediately clear which decision was being protested.
All three New York casino bids selected but costs vary
Once the shouting was quelled, board member Greg Reimers explained why all three had been approved.
“No alternative scenarios produce comparable revenue or fiscal benefits,” he said, with regard to other licensing outcomes. “Each project proposes to deliver substantial community benefits, including infrastructure and transit improvements, local business partnerships and significant commitments to community-based organisations.”
The planned investment costs listed on Monday for the projects were below the total cost projections offered by the applicants, which took licence fees, community benefits and other costs into account.
The capital investment for Bally’s was listed at $2.3 billion, from $4 billion total. Metropolitan Park was tagged at $5.3 billion, from $8 billion total, and Resorts World was listed at $3.3 billion, from $7.5 billion total.
Applicants eager to clear final licence hurdle
In a statement after Resorts World’s approval, Genting New York chief Robert DeSalvio said the ruling “represents more than 15 years of work to generate jobs, revenue and opportunities for our neighbours”.
Bally’s said in a statement that it was “grateful for the board’s confidence” and was “honoured” to be selected.
“Our team has worked closely with community leaders, union partners and local stakeholders to build a project that delivers real jobs, lasting economic benefits and a world-class entertainment destination for the Bronx,” the statement said.
Metropolitan Park spokesman Karl Rickett said in a statement that the board “has validated the positive economic impact this project will have with billions of dollars in tax revenue, 23,000 union jobs and over $1 billion in community benefits. We look forward to the Gaming Commission’s review.”
Both Bally’s and Metropolitan Park have projected openings in 2030, whereas Resorts World, as an existing facility, has pushed the limit in scheduling its ramp-up. Originally, it projected a July 2026 opening, but its latest projection has it moved up to March.
Bright spotlight for the GFLB
The five-member GFLB was thrust into the spotlight this autumn after a quick formation in 2025. Four of the five members were appointed this year, the most recent of which came on 30 September. None of the members have experience in or connection to gaming.
In a press conference following the announcement, Been indicated the board leaned heavily on consultants in forming its decision. This was especially true with regard to performance projections and market concerns.
“We ask our consultants to be extremely searching and thorough, and we ask them to be very conservative,” she told reporters. “They disagreed with some estimates by the applicants and thought that they were quite high, so all of our estimates about the revenue potential are based upon our consultants’ views, not the applicants’ views.”
The board estimates that the three applicants could generate $7 billion in gaming tax revenue and $5.9 billion in other tax revenue in the 10-year period from 2027-2036.
According to the selection rationale document, the gaming analysis was “led by Tailored Hospitality Advisors with support from Advantage Partners Consulting, Klebanow Consulting, Hall Hospitality Advisors, Ben Mammina Development Group and Thompson Consulting and Analytics”.
Been was adamant that the board’s approval is not a “rubber stamp” for an identical ruling from the NYSGC. When asked whether there are “strong odds” for such an outcome, she said simply, “I am not a betting person.”
Strong market potential but timelines ‘ambitious’
The rationale document showed that all three applicants were approved unanimously. There were points of concern with each, but the market overall was viewed as being fundamentally solid.
“The downstate gaming market is among the nation’s strongest, given the area’s dense population, high income levels and tourism volume,” the rationale said. “The large local population base residing within a two-hour drive of the proposed casino sites is expected to anchor longterm visitation, supplemented by domestic and international tourism. Each proposal is positioned to compete for premium gaming customers through brand strength, amenities, and facility design.”
Applicants’ suitability and integrity was not included in the board’s consideration – that will be the purview of the NYSGC. Commission chair Brian O’Dwyer has vowed repeatedly that applicants will be held to the highest standard.
Aside from the concerns with the individual applicants, the board noted that construction timelines might impact each. All of the proposed timelines were seen as “ambitious” by members.
“Resorts World New York City’s projected March 2026 opening may underestimate regulatory and construction complexities, and Bally’s Bronx and Hard Rock Metropolitan Park’s mid-2030 timelines may be optimistic given project scale and urban constraints,” the rationale reads. “Continued and diligent oversight and coordination will be necessary to ensure timely delivery.”
Each of the three remaining New York casino applicants will progress to state commission consideration, with a decision expected by year’s end.