Less than III months into 2024 and it’s seemly more and more apparent that no more decisions on downstate casino licenses inward New House of York testament be made this year.
New York Gaming Commission(NYGC) Executive Director Henry Martyn Robert Roger Williams noted before Monday that it’s not practicable to open up a 30-day window inward which gaming companies canful take a leak functionary applications to the province for the ternion downstate cassino licenses because New House of York City needs to neuter various zoning laws so that at least one gaming locus could live inwards the cinque boroughs. That process could occupy practically of this year, implying no decisions on winning bidders will live made until tardily 2025.
Last November, Mayor Eric John Quincy Adams (D-NY) proposed a citywide zoning textual matter amendment that would reserve gaming venues inwards the Phoebe boroughs, but there are another 10 steps to live cleared before that proposal could move into effect.
Staff believes the timeline accommodates the existing statutory requirements … and allows sufficient clip for local zoning approvals, which testament enable the best, to the highest degree comprehensive plans for commercial-grade cassino development,” William Carlos Williams told NYGC board members.
Entering this year, it was hoped that the country could undetermined the 30-day summons window before July, but that now appears unlikely.
No Surprise on 2025 Timeline for New York Casino Permits
While lobbyists and gaming industry observers were optimistic that there’d be motion on awarding the New York casino licenses at some pointedness this year, other experts cautioned it was potential a 2025 issue, citing bureaucratic delays, among other issues.
Additionally, Gov. Kathy Hochul’s (D-NY) budget for the stream fiscal yr didn’t include receipts for casino applications and licensing fees, indicating capital of New York wasn’t banking on decisions on that face occurring this year. Ted Williams said the body politic doesn’t wait those revenue generators before the 2025-26 financial year.
Another publication that could be delaying opening the bidding window is that some gaming companies are ready and waiting(p) on legislators to alter parkland designations at their pitched cassino cites. That’s applicable to Steve Cohen and Hard John Rock International inward Queens as fountainhead as Bally’s in the Bronx.
Additionally, Las Vegas Sands’ efforts to establish a casino resort hotel inward capital of the Bahamas County is existence hindered past judicial proceeding brought by opponent groups, including Hofstra University. Sands’ proposition has been widely viewed as i of the more viable for a New York gambling casino license.
Five Boroughs Matter
As thing remain firm today, arguably only if MGM Resorts International with Empire City inward Yonkers and Resorts World New House of York inward Queens would live ready to participate inwards a bidding process that started over the near-term. The same might follow admittedly of Sands if it can buoy put the aforementioned judicial proceeding in arrears it.
However, of those trinity bids, only if Resorts World New House of York in Queens is in unity of the 5 boroughs and policymakers inward both capital of New York and the urban center mightiness need to ensure there’s a spirit level playing line of business for gaming companies evaluating Manhattan because that could tight to a greater extent task revenue for the state.
Caesars Entertainment and Wynn Resorts, among others, will rake Manhattan casino hotels when the summons outgrowth starts.
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