Headlines surrounding the competition for three available downstate casino licenses in New York has been dominated by the likes of Caesars, Wynn, Las Vegas Sands, Resorts World, and MGM.
But that has not dissuaded the optimism boasted by Bally’s Corp.
With a location set at Ferry Point, now known as Bally’s Golf Links, the company has never wavered from its rosy outlook. And that continued during the latest Bally’s earnings call.
“We believe our site at Bally’s Golf Links at Ferry Point is superior to the sites offered by our competitors,” George Papanier, president of Bally’s, said during the call last week, “as we think the economic benefit to that area of New York will more positively impact the lives of many local residents who direct jobs in our proposed resort and through the residents that will service our facility.”
Bally’s high on downstate NY casino chances
In the early days of 2024, Bally’s officially put its name on the Ferry Point golf course, one the company looks to develop into a fully fledged casino known as Bally’s Bronx.
Since first targeting the property, Bally’s has been bullish on its chances to land one of three downstate licenses, which could clear the way to offer online casinos in New York once lawmakers legalize iGaming.
That trend continued during last week’s earnings call, wherein Papanier noted that Bally’s expects state officials to award licenses in the first quarter of 2026.
“In New York,” said Bally’s CEO Robeson Reeves, “it appears the licensing submission process will occur in June of 2025, with the winner to be announced in early 2026.
“We remain extremely excited by the opportunity to develop a world-class integrated resort adjacent to Bally’s Links at Ferry Point in the Bronx, which will add yet another must-see destination in the Big Apple.”
Timeline to award downstate licenses ‘remains fluid’
Papanier told investors that the process for awarding the downstate licenses “remains fluid,” only adding the loose target date of early 2026 as a potential timeline for NY officials to announce the three winners.
Of course, state lawmakers passed legislation in June to potentially speed up the process, which Gov. Kathy Hochul has yet to sign. Then the Gaming Facility Location Board set its own application deadline of June 27, 2025 – nearly a full year after the bill’s proposed timeline of Aug. 31, 2024.
On top of that murkiness comes the hurdle of local lawmakers opposing any park alienation legislation that would allow Bally’s to develop its proposed 3.1-million-square-foot facility.
Still, Bally’s remains optimistic, especially after company chairman Soo Kim’s hedge fund Standard General bought out Bally’s Corp. for a reported $4.6 billion.
The transaction merges Bally’s with regional casino operator The Queen Casino & Entertainment, which could help bolster the bid, as Bally’s is on the hook for $60 million on the lease at Ferry Point.
