Three downstate casino licenses were approved by the New York State Gaming Commission on Monday, the final step for the trio of massive casino projects to be built in and around New York City.
After a lengthy process, gaming licenses have been granted to:
- Bally’s Bronx in Ferry Point
- Hard Rock’s Metropolitan Park next to Citi Field in Queens
- Resorts World New York City in South Ozone Park in Queens
Now, each of the groups must activate their plans to develop the casino sites. They must pay a $500 million license fee and spend a minimum $500 million in development costs. That’s a hefty $1 billion price tag just to play ball in the casino gaming industry in New York City. The backers, however, have deep pockets.
Money from projects outweighed citizen concerns for commissioners
Not all New Yorkers were opening bottles of champagne on Monday. A crowd opposed to the casino plans protested inside the room where the vote was taken. Some residents of the areas where the casinos will be located have cited concerns over congestion, tax dollars being used for zoning, and the dangers of gambling.
The potential jobs and investments in the city from the projects, however, won out for commissioners. Earlier in December, the New York Gaming Facility Location Board overwhelmingly recommended the three projects.
Some believe this action, along with the state banning sweepstakes casinos earlier this month, could open the door to legalizing New York online casinos in the near future.
Hard Rock’s Metropolitan Park is spearheaded by Steve Cohen, controlling owner of the New York Mets. His vision is an expansive entertainment and public space in the Flushing neighborhood in Queens.
Resorts World is a major gaming company that operates in many states. Its plan is to greatly expand its casino campus in Queens. The company promises an investment in excess of $5 billion.
The Bally’s casino plan is ambitious. Its complex will be on land adjacent to the former Trump Golf Course at Ferry Point along the East River and includes 500,000 square feet of gaming space. The company promises “$625 million in community benefit” from the project.
