As the landscape of downstate New York gears up for a potential transformation, the arena of casino gaming finds itself at the front and center. With the New York State Gaming Facility Location Board's decision to set a new bid deadline for casino facilities to June 27, 2025, a significant shift could be imminent.
Legislative Developments Put Timeline in Spotlight
Currently awaiting Governor Kathy Hochul's signature is a bill spearheaded by Senator Joe Addabbo, S9673A, which could change everything. This bill proposes a deadline of August 31, 2024, for casino bids, significantly pushing forward the board’s announced deadline. If signed into law, this legislation would override the board’s decision, compelling bidders to expedite their proposals.
Notably, the bill has already smoothly navigated through both the house and senate earlier in June, hinting at a legislative urgency for quicker action that contrasts sharply with the facility location board's more measured approach.
Concerns Over Pragmatic Challenges
Despite these legislative maneuvers, the New York State Gaming Facility Location Board has expressed considerable concern over the constraints posed by an accelerated timeline. “Politicians may want a quicker deadline, but that would be impractical,” emphasized Vicki Been. The board has clearly articulated that they view the current deadline proposed by the bill as unreasonable due to the inherent requirement that all ‘entitlements and zoning’ must be in place before any bid can even be reviewed.
Environmental impact studies and the necessary zoning changes stand as formidable preconditions to the bidding process. The Bally’s Bronx proposal and Steve Cohen’s Queens proposal, for instance, both necessitate rezoning from their existing parkland designations. Such logistical hurdles represent significant temporal challenges that might impede quick progress.
Competition Heats Up with Multiple Proposals
Amidst these procedural and legislative challenges, a fierce competition is brewing as 11 bidders vie for the opportunity to develop casinos in prime New York locations, ranging from the bustling Times Square to the iconic Brooklyn area. The array of proposals is both diverse and ambitious, featuring a mix of commercial and tribal operators and encompassing extensive development plans beyond mere casino facilities. These plans include resorts, housing units, and overall neighborhood improvements intended to rejuvenate and transform their respective areas.
Diverse Proposals Up for Consideration
The lineup of bidders and their proposals includes:
- Avenir: Silverstein Properties and Greenwood Gaming in Manhattan
- Bally’s Links at Ferry Point: Bally’s Corporation in The Bronx
- Caesars Palace Times Square: Caesars Entertainment, SL Green, and Roc Nation in Manhattan
- Coney Project: Thor Equities, Legends Entertainment, the Chickasaw Nation, Saratoga Casino Holdings in Brooklyn
- Freedom Plaza: Soloviev Group and Mohegan Gaming in Manhattan
- Metropolitan Park: Steven Cohen and Hard Rock International in Queens
- MGM Empire City: MGM Resorts International in Yonkers
- Resorts World New York City: Genting Group in Queens
- Sands New York: Las Vegas Sands in Nassau County, Long Island
- Saks Fifth Avenue: Hudson’s Bay Company, with the operator to be determined, in Manhattan
- Wynn New York City: Related Companies, Oxford Properties Group, and Wynn Resorts in Manhattan
Each proposal is tailored to its locale, boasting distinct conceptual and architectural plans aimed at leveraging the cultural and economic dynamism of New York's various neighborhoods.
Balancing Ambition with Practicality
During a recent board meeting, members acknowledged the potential conflict between their extended deadline and the rigorous stipulations of S9673A. The board remains cautiously optimistic, hoping their reasoning for a more extensive timeline will resonate with Governor Hochul’s office. “The hope would be that our reasoning will be helpful to the governor,” added Vicki Been, shedding light on the practical challenges the board faces.
The implications of these developments are considerable. The introduction of new casinos promises to reshape the entertainment and economic fabric of downstate New York, potentially bringing in significant revenue and job opportunities while also necessitating careful consideration of environmental and zoning concerns.
As the clock ticks down towards the proposed deadlines, the interplay between legislative intent, board operational capacity, and bidder readiness will continue to unfold. One thing is certain: the stakes are as high as the aspirations of those involved in this substantial endeavor.