As New York’s summer progresses, the battle over casino licenses in the three cities is intensifying.
Proposals and a $1 million application fee must be submitted by Aug. 31, and billions of dollars remain outstanding.
With the exception of two racetracks that already profit from electronic gambling and are considered the front-runners — Resorts World New York City in Queens and Empire City in Yonkers — the remaining six candidates face local opposition.
“Corporations are spending millions on lobbyists,” a political insider told The Post, “and no part of the city wants a new casino.”
The multi-billion dollar craps shoot is about to get underway, with licenses expected to be issued by late 2025, but here’s who will participate and the odds of rolling a seven.
Stephen Ross and Wynn Resorts
Budget: $12 billion
Public Benefits: 5.6 acres of parkland, public schools
Casino: Wynn New York City
Facing the glittering Hudson Yards, Wynn NYC boasts an 80-story hotel/casino and lavish restaurants that, given Wynn’s reputation for quality, should blend in within the glass tower.
“We’re creating a destination resort,” Wynn chief communications officer Michael Weaver told The Washington Post, adding that live on-site entertainment is not part of the plans. “We’re going to align it with shows, sporting events and concerts in the city.”
But the local Community Board 4 has complained that the casino will displace housing promised by Stephen Ross’s Related Companies, which developed Hudson Yards (up from 5,700 to 1,507 units).
“Would they get past the Community Review Board?” Bennett Liebman, former deputy commissioner for gambling and racing under former Gov. Andrew Cuomo, asked The Washington Post.
Andrew Rosen, chief operating officer of Related’s Hudson Yards, doesn’t seem worried: “We committed to 324 units of affordable housing. We’re going to build those 324 units. The community hasn’t seen what we’re doing yet.”
Odds of approval: 3 to 1. “Wynn and Related are the best,” says Alan Wojnski, president of casino consultancy. Gaming USA“I don’t think there will be much opposition. The scale of the project is impressive.”
MGM Resorts International
Budget: $3 billion
Public bonus: Tripling the already employed mostly local workforce
Casino: Empire City
Yonkers Raceway introduced slot machine style games in 2006 through Empire City Casino.
In 2018, MGM Resorts International, which owns the Bellagio in Las Vegas, purchased the racetrack and the Empire for $850 million.
The company is currently seeking to obtain a full gaming license.
Mitchell Moss, a professor of urban policy and planning at New York University, sees the racetrack and its proposed 301,200-square-foot expansion as having a “record of success and being easily expandable.”
Odds of approval: 50-50 “They should have the license by now,” Wojnski said. “They’ll be generating tax revenue within six months” at the gaming tables while the expansion continues. “It would be foolish not to give them a license.”
Stefan Soloviev and Mohegan Sun
Budget: $10 billion
Public perks: 6.7 acres of parkland and the Freedom Museum (which includes Solovyov’s personal piece of the Berlin Wall)
Casino: Freedom Plaza
Stefan Solovyov is considered Manhattan’s dark horse.
Solovyov and Mohegan Sun’s Midtown East property has drawn ridicule from local residents despite its proposal to build 1,325 apartments (513 of which will be below market rate) and 1,200 hotel rooms.
He mentioned gambling. Treating profits as “blood money.” Robert Gottheim, district manager for Rep. Jerry Nadler, said he was concerned that “our most vulnerable people will gamble away their paychecks.”
From a city planning perspective, Moss said the casino “won’t fit in with the neighborhood. We don’t need a casino near the Queens Midtown Tunnel.”
Solovyov responded unashamedly to those who dislike gambling: [subterranean] “The casino is just one part of the entertainment district we’re building,” he told the Post. “We think people are going to love it when it’s finished.”
Probability of approval: 50 – 1[Soloviev] No experience [with a casino]”And Mohegan has pulled out of Virgin Hotels in Las Vegas,” Woinski said. Mohegan Sun previously operated Virgin Hotels casinos, but according to reports, neither company has explained the split.
Genting Group
Budget: $5 billion
Public Benefits: Over 10 acres of green space
Casino: Resorts World New York City
Resorts World NYC, a racino (a combined horse racetrack and casino) that has been open since 2011, claims to be the best-performing non-tribal casino in the United States outside Las Vegas.
This does not include table games such as blackjack or roulette.
But the license could face pushback due to allegations that an interpreter for Los Angeles Dodgers baseball star Shohei Ohtani gambled with a gambler who deposited funds with Resorts World in Las Vegas.
Gambling law expert Nelson Rose told The Washington Post that the scandal was “bad news” because “one of the criteria for a casino license is reputation.”
Megan Taylor, senior vice president of government relations and public affairs for Resorts World NYC, told The Post, “Resorts World Las Vegas is a separate company from Resorts World New York. There is no overlap between senior management.”
Moreover, she added, if permission is granted, “within six months, the cards will be available for resale,” thus generating tax revenue almost immediately.
Odds of approval: 50-50. “If there were issues related to Las Vegas, there would have been hearings on slot machines. [at Resorts World NYC]”This property is going to be a great casino,” Wojnski said.
Bally’s Corporation
Budget: $3 billion
Public Bonus: Set up a police station within the game facility
Casino: Bally’s Bronx
Bally’s Corporation acquired the Bronx Links Golf Course from Donald Trump in 2023.
The golf club wants to convert part of the course’s parking lots and driving range, which count as parkland, into a casino.
Bronx lawmakers have yet to back the plan, which would require a special permit known as a “park land transfer,” putting Barry’s in a bind.
While locals have been lukewarm on plans to build a casino, hotel and spa in the area, Christopher Jewett, the company’s senior vice president of corporate development, argued to The Washington Post that the location is an asset.
“If MGM and Resorts are the layups, we’re right in the middle,” he said. “We’re in the sweet spot in terms of not diluting other companies’ revenues.”
Odds of approval: 60 to 1. “Bally’s is in a tough financial position,” Wojnski said, pointing to the company’s billions of dollars in debt and a projected net loss of $172 million in 2023. “I would ask: Do they really want to do a project of this magnitude?” a shareholder asked the same question recently.
Steve Cohen and Hard Rock International
Budget: $8 billion
Public Bonus: 25 acres of new park space
Casino: Metropolitan Park
Steve Cohen usually gets things his way and ends up paying the price.
He wanted Damien Hirst’s famous shark preserved in formaldehyde and paid $8 million.
Then there’s the Mets acquisition ($2.4 billion).
Topping them all is Cohen’s Casino, which also includes a food hall, hotel and music venue.
“This is a once-in-a-lifetime opportunity,” a source close to the project told The Post.
However, this is not true for everyone.
The marginalization of Parkland is as much an issue for Cohen as it is for the Barrys. State Sen. Jessica Ramos has vowed that she “will not introduce legislation to marginalize.” [Cohen’s property] For casino purposes.”
However, the source said, “there are multiple avenues to gain the necessary approvals.”
Odds of approval: 25 to 1. “You can’t convince people that they’re not in favor of gambling,” Wojnski said. “I don’t think there’s any other way.” [Ramos]. “
Thor Equities, Chickasaw Nations Global Gaming Solutions, Saratoga Casino Holdings, Legends Hospitality Group
Budget: $3 billion
Public Bonus: Year-round Ski-Ball
Casino: The Cony
This ambitious casino of the future relies on the past.
“Coney Island is one of New York City’s oldest entertainment districts,” project consultant and former New York City Councilman Robert Comegy told the Post, adding that Coney crews aim to recapture that atmosphere.
Nonetheless, last year the local community committee Voted against Casino proposal.
Some feared Coney Island would imitate the dilapidated Atlantic City.
Cornegy insists they’re working together: “We’re embracing the needs of the community. We’re putting a Coney Island attraction on the first floor and a casino on the second floor.”
He also pointed to a lack of investment in Coney Island, adding, “We can have an impact on the community. I don’t know if we can have the same impact in Manhattan.”
Odds of approval: 40 to 1. “I like this project, but there are too many people involved,” Wojnski said. “I don’t think they have the clout to make it happen.”
Nominees: Jay-Z, Caesars Entertainment, SL Green
Budget: trillion yen
Reveal Bonus: Jay-Z Curates Entertainment
Casino: Caesars Palace Times Square
Some groups around Times Square are not welcoming Caesars.
The Broadway League opposes casinos (fearing they will reduce theater attendance), even though the project would use $117 million to buy theater tickets for children and train aspiring actors.
Meanwhile, a group of nearby landowners has voiced support for the proposed gambling venue.
Seventy-one percent of registered voters in the area expressed opposition, in the poll conducted by the Coalition Against Times Square.
But Brett Hershenfeld, executive vice president of retail and opportunistic investing at SL Green, is optimistic.
“Caesars Palace Times Square is a project designed to revitalize all of the businesses in Times Square through investment and shared economic benefits,” he told the Post.
As for Jay-Z’s role, a source told The Washington Post in December 2022, “The hope is that Jay will be able to take on a residency similar to what Adele has in Las Vegas.”
Odds of approval: 25 to 1. “Times Square doesn’t have any convenient locations,” Wojnski says. The best way to get there is by subway. Would you want to take the subway with $5,000 in your pocket? If we get local approval (unlikely), I’d guess 10 to 1.”
