Don’t bet on New York gaming regulators winning the race.
Sands Casino executives blamed state gaming regulators for a “confusing” review process that spanned years, meaning licenses in the Big Apple area are still months away.
“We’re very disappointed in New York,” Sands President and Chief Operating Officer Patrick Dumont told investors on a first-quarter earnings call first reported by gambling site playny.com.
Sands is pitching a $4 billion casino complex at the Nassau Coliseum site in Uniondale, but the State Gaming Commission, after nearly three years of preliminary consultation, has announced plans to build up to three new casinos in the New York City area through the end of 2025. announced that it would not decide on a new casino license. .
“We’ve been working there for a long time, and we thought it would be within 24 years…now they’re saying 25 or 26 years,” Dumont said.
“To be honest, I don’t think we have a clear point. It’s confusing and disappointing…I don’t know New York at all. I hope they figure it out and let us know. I hope you will,” he said in a rare public criticism. tailored to the level Regulatory Authority Rulings on Applications.
Still, Dumont said, “I remain hopeful that things will work out.” [will] “Turnaround” in New York.
This drag on gaming facilities in major metropolitan areas may not open until 2026 at the earliest, pushing up the over-under.
Sands is now publicly saying that other casino industry players and bidders have privately complained about the snail’s pace. But a longer period could benefit other bidders struggling to overcome community and political resistance.
Nassau County Executive Bruce Blakeman and the Republican-led County Council approve a 99-year lease agreement for the Sands to operate a casino at the government-owned Nassau Coliseum if it ultimately wins a state gaming license. did.
Nassau-backed Sands bid is beset by some opposition and legal challenges — Led by Hofstra University.
The city of Nassau announced Friday that it would review its lease agreement with Sands after Hostra won a lawsuit that found county officials violated public meeting and environmental laws when pushing through initial approvals last year.
Neighborhood and political support will be crucial in determining which bidder wins the rights to operate a casino in the New York City area.
The casino bid must be approved by the state Gaming Facility Siting Board.
The review committee for a particular area where a casino is proposed includes local legislators, state senators and state representatives, borough presidents, mayors, and governors.
Community boards are speaking out against some of the city’s proposed casino plans. — Specifically, Affiliates/Wynn’s $12 billion gaming complex and the Officers Tower complex at Hudson Yards, as well as the So Equity Consortium gaming complex along the Coney Island Boardwalk.
Other casino projects include Mets owner Steve Cohen’s bid for an $8 billion project near Citi Field, Bally’s at Ferry Point in the Bronx, and Silverstein Properties in Hell’s Kitchen.
Cohen and Barry’s proposal also requires approval of state legislation approved to change the use of their property from parkland to commercial use.
Meanwhile, Genting Resorts World at Aqueduct Racetrack and MGM Empire City at Yonkers Raceway are seeking licenses to add table games to their slot parlors.
Asked for comment, the Gaming Commission told the Post that the timeline for awarding casino licenses is “ahead of schedule” because Gov. Kathy Hochul and the state Legislature do not expect any revenue from casinos.・Cited a previous statement by Secretary-General Williams. Help us fund the MTA through 2026.
The successful bidder must pay an upfront license fee of $500 million for the privilege of operating the casino.
Hudson Yards, Citi Field, Coney Island and the Bronx stadium also must first be approved under the city’s long-standing Uniform Land Use Review Procedure, the commission said.
“Unofficially, I [land use] This process will continue until the second quarter of 2025,” Williams said.
He said bidders would also have to undergo another state environmental review under the state’s Environmental Quality Review Act, which could take time.
