New York City Mayor Eric Adams saved the Bally’s Casino project in the Bronx by vetoing the Council’s rejection of the plan last month.
City Council Democrats have a chance to override the mayor’s veto. However, it appears as if Mayor Adams’ veto is going to stand. For now, Bally’s Casino in the Bronx stays alive.
Decision to not override Adams
City Council Democrats are not overriding Mayor Adams’ ban. However, it’s not because it necessarily agrees with his decision.
According to the New York Daily News, the Council came to the conclusion that there is not enough time or willpower to challenge Adams’ veto. Benjamin Fang-Estrada, a spokesman for Speaker Adrienne Adams said in a statement:
“If the mayor wants to do the casino applicant’s work for them and carry their water with all his conflicts of interest, that’s his decision.”
Mayor Adams was disappointed when City Council ruled against Bally’s last month. His spokesperson, William Fowler, said in a statement:
“The City Council’s disapproval of this Bronx bid pits boroughs against one another and leaves the Bronx unable to even have a shot at benefiting from the potential of new jobs and new investment in their community.”
Mayor Adams used his power to change the course of Bally’s, and the City Council Democrats appear to be conceding.
Roundup of other downstate casino bids
According to the Straight To The Point newsletter, Steve Ruddock believes that Resorts World in Queens and MGM Empire City in Yonkers are slam dunks to receive a license. Ruddock puts the odds at -1200 and -1100, respectively, for the two bids.
The third license has tons of competition. New York Mets owner Steve Cohen‘s Metropolitan Park casino plan has the next best odds at +120. The plan has already went through necessary legislature to reach the desk of Gov. Kathy Hochel.
SL Green and Caesars Entertainment have a decent shot at a casino in Time Square. Ruddock has odds set at +250. However, there appears to be some doubt, as John Sabini, former chairman of the state racing and wagering board, told the New York Post that he doesn’t believe there will be a casino in Manhattan.
The Bally’s project is ranked sixth at +500, behind the bid of Greenwood Gaming and Rush Street Gaming for a property in Manhattan. Though it might be a long shot, it is certainly better odds than it had last month.
The Soloviev Group and The Coney have the longest odds to receive a bid.
The state is expected to hand out licenses by the end of 2025.
