Gov. Kathy Hochul on Monday vetoed a bill that would extend the deadline for bids to open casinos in and around New York City.
“Changing the timeline… would likely have the effect of helping certain bidders and harming others,” Hochul said in his veto message.
“I cannot support a bill that changes the rules midway through.”
The bill, passed by lawmakers in June, would require bidders to submit proposals for review this August, even if they have not yet received the necessary local zoning and other approvals. It was supposed to happen.
Hochul did not take action on the bill as the new deadline passed, effectively banning the bill since the State Gaming Commission is expected to approve up to three casino licenses in the state by the end of 2025. It was an implicit veto of the bill.
Some industry officials say a longer timeline would benefit bidders facing political resistance and ongoing zoning and land-use issues.
At the same time, officials say the accelerated proposal submission schedule will help Mets billionaire Steve Cohen's plan to build an $8 billion casino and entertainment complex next to Citi Field in Queens, It said it could have a negative impact on Wynn and its affiliates' proposal to build a $100 million gaming complex. at Hudson Yards, etc.
In his veto message, Hochul said the casino selection process was agreed to by lawmakers as part of the 2022 state budget.
“As part of the process, applicants will be required to work with local governments to ensure the project falls within their respective local government zoning laws,” she said. “Potential applicants are continually working to ensure their projects are compliant.”
State Sen. Joe Addabbo (D-Queens), who co-sponsored the bill with Rep. Gary Pretlow (D-Mount Vernon), accused Hochul of making changes that lawmakers made during the lengthy proposal process.
Mr. Hochul “suspended” the highly unpopular $15 toll to enter midtown Manhattan over the summer, and then, just days before this year's election, Democrats made it a campaign issue. Since it will no longer be featured, it has been criticized for reinstating the fee to $9.
“The governor made a mid-course change in congestion pricing,” said Addabbo, chairman of the Senate Horse Racing and Gaming Committee.
“I was trying to improve the process.”
He said potential bidders with serious legal or land-use issues should be weeded out sooner rather than dragging out the process.
“If we can't resolve the land use issue within two years, then maybe the casino shouldn't exist,” Addabbo said.
The state will receive a minimum of $500 million from each bidder that wins a casino license, with proceeds going to the Metropolitan Transportation Authority. But Addabbo estimates it could be worth $750 million per license, or $2.25 billion.
Addabbo noted that it could take three years to build a new casino once a license is granted. The exception is slot parlors. Resorts World at Aqueduct Raceway and MGM Empire City at Yonkers Raceway. Once it obtains a full casino license, it could expand its table game offering in the coming months.
The deadline for casino bid applications is June 27, 2025, according to the state's Gaming Facility Siting Commission timeline. A community advisory board made up of elected officials from the affected areas would then review the bid and vote to approve or reject it.
The board will vote on which casino projects to recommend to the State Gaming Commission, which must give final approval by the end of the year.
