Bally’s, Hard Rock, Resorts World One Step From New York Casino Licenses

The Gaming Facility Location Board (GFLB) unanimously voted Monday to forward the applications of Bally’s Bronx, Hard Rock Metropolitan Park, and Resorts World to the New York State Gaming Commission (NYSGC) for consideration for the three downstate casino licenses available.

The three proposals project to generate tens of thousands of jobs and billions of dollars in tax revenue at the local and state levels.

When GFLB Chair Vicki Been made the announcement that the board was advancing all three applicants, a chant of “Shame on you!” erupted from a handful of people in the audience at the CUNY Graduate Center’s Proshansky Auditorium in New York City where the meeting was held. It was unclear what the chant referred to.

“The downstate market is among the strongest in the nation, supported by population density, income levels, and tourism,” said board member Greg Reimers in offering the rationale behind sending all three applications forward. “The sizable population within a two-hour drive will support sustained visitation supplemented by domestic and international travelers.

“Using conservative assumptions, the board’s consultants projected incremental annual gaming tax revenue of nearly $1 billion in 2036, totaling approximately $7 billion between 2027 and 2036, plus $1.5 billion in licensing fees,” Reimers added. “Additional state and local taxes, property, sales, hotel occupancy and others (taxes) are projected to generate $5.9 billion. Problem gaming programs are projected to receive $10.7 million annually.

“No alternative scenarios produced comparable revenue or fiscal benefits.”

The three applicants are expected to face final consideration for licensure by the commission before the end of the year.

Resorts World accelerates expansion timetable

Resorts World, which looks to have made all the right moves in detailing the $7.5 billion expansion of its existing venue at Aqueduct Raceway, added yet another wrinkle to its proposal Monday. It projects to have the first phase of its gaming expansion ready in March, three months earlier than originally proposed.

This is in addition to Resorts World being willing to pay $100 million above the $500 million minimum license fee and offering tax rates of 56% on slots and 30% on table games in its supplemental submission to the GFLB. That was well above the baseline rates of 25% and 10%, respectively, established by the board.

“Resorts World New York City’s journey to this historic moment represents more than 15 years of work to generate jobs, revenue, and opportunities for our neighbors,” said Robert DeSalvio, president of Genting Americas East, owner of Resorts World. “Resorts World New York City’s $7.5 billion proposal is the only bid that can expand operations in just 90 days, generating billions in new revenue for mass transit and public education over the next four years. We are thankful the Gaming Facility Location Board recognized the tremendous economic impact we will have for New York State.”

Resorts World would be the only licensee among the three finalists in operation between 2026 and the projected 2030 openings for Bally’s Bronx and Hard Rock Metropolitan Park. It is unknown if MGM Empire City, which stunningly withdrew its application in October after being a finalist, would continue to operate VLT (Video Lottery Terminal) gaming at Yonkers Raceway as Bally’s and Hard Rock construct their venues.

In supplemental information submitted to the GFLB, Resorts World projected 2031 revenue between $2.7 billion and $3 billion with three licensees, which it claims to be the highest among the trio.

Global brand key to Hard Rock

The $8.1 billion Metropolitan Park casino proposal fronted by Hard Rock and New York Mets owner Steve Cohen was viewed as an additive to what the GFLB called “already a strong entertainment district” that includes the Billie Jean King Tennis Center — home to the U.S. Open — and planned Etihad Park soccer stadium for New York City FC.

“After years of community engagement and support, Metropolitan Park is one step closer to becoming a reality,” said Metropolitan Park spokesperson Karl Rickett. “Following a fair, transparent and rigorous process, The Gaming Facility Location Board has validated the positive economic impact this project will have with billions of dollars in tax revenue, 23,000 union jobs, and over $1 billion in community benefits. We look forward to the Gaming Commission’s review.”

In its selection document, the board also noted that Hard Rock’s global brand and entertainment partnerships have the ability to “differentiate the property in the New York City market and drive visitation.” This was something Queens Borough President Donovan Richards Jr. noted in discussing the possibility of Resorts World and Metropolitan Park being able to co-exist in such close proximity.

“There is no safer bet in our city than Queens and its unparalleled promise,” Richards said in a statement released Monday. “The most diverse county in the United States is quickly becoming its most economically innovative and transformative — cemented by today’s recommendation to connect tens of thousands of Queens families to good-paying union jobs and millions of residents and tourists alike to world-class entertainment.

“Since the very start of this casino licensing process, both Resorts World and Metropolitan Park have held winning hands, with each putting forth unrivaled community benefits packages to uplift our families and clear-eyed workforce development plans that will generate billions of dollars in wages and tax revenue. Together, they embody our borough’s immense potential as a true live, work and play community.”

Bally’s unlikely run continues

Bally’s was considered a longshot from the beginning when the eight applications were submitted to the NYSGC at the end of June and twice needing outgoing New York City Mayor Eric Adams’ help just to be heard by a Bronx-based Community Advisory Committee. Fast forward five months, and Bally’s $4 billion proposed venue to build a casino on the grounds of a golf course formerly owned by President Donald Trump in the Bronx is now one step shy of reality.

“Bally’s is honored to be selected by the Gaming Facility Location Board to advance in the licensing process,” said the company in a statement. “Our team has worked closely with community leaders, union partners, and local stakeholders to build a project that delivers real jobs, lasting economic benefits, and a world-class entertainment destination for the Bronx. We are grateful for the Board’s confidence and look forward to working with the Gaming Commission as the process moves to its next phase.”  

The Board noted that Bally’s proposed integration of gaming and golf “will offer a different experience from the other Applicants’ facilities.” That differentiator, coupled with the expected clientele from both the upstate and tri-state areas, “convinced the Board that the Bally’s proposal was a strong complement to the other proposed facilities.”

Bally’s Bronx proposal is one of three high-profile venues it is juggling in large metropolitan markets. Its $2 billion casino in the River West neighborhood of downtown Chicago is scheduled to open next September and a Las Vegas project that includes a Major League Baseball stadium, hotel towers and casino is tentatively slated to open in the spring of 2028.

A word from Addabbo and applause all around

New York state Sen. Joseph Addabbo, chairman of the Senate Committee on Racing, Gaming and Wagering, released a statement following the board’s announcement.

“I applaud the members on the New York State Gaming Facility Location Board for unanimously backing all three casino bids – Bally’s casino proposal in the Bronx, as well as Resorts World and the Metropolitan Park developments in Queens. This decision moves us closer to a final license approval by the Gaming Commission by the end of the year and closer to realizing the significant benefits for New York— over 10,000 union jobs, billions in revenue, infrastructure improvements, funding for the MTA and support for problem-gambling programs.”

The commissioners of the NYSGC praised the board, noting it had “performed a true public service” in reviewing all the application materials. The agency added it “has already undertaken the background investigations of the applicants and is expeditiously applying its statutory license suitability criteria to ensure that these casinos are operated with utmost integrity and fiscal responsibility. A New York gaming license is a privilege – and this Commission will ensure those entities fortunate enough to be selected for licensure meet New York’s rigorous standards.”

New York Building Congress President and CEO Carlo A. Scissura congratulated all three applicants via statement, saying “These casino developments represent major, once-in-a-generation investments in New York’s future, creating thousands of good-paying, union jobs, generating billions in economic activity, and delivering new revenue streams that will support essential public services across our city and state.

“Each of the winning proposals has demonstrated a strong commitment to building world-class facilities, strengthening surrounding communities, and driving long-term economic development. Today’s recommendations mark a milestone more than a decade in the making, and we commend the state for its careful review and commitment to a fair and transparent process.”