Genting and MGM Lead the Race for New York City Casino Licenses

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New York is on the cusp of a major transformation with the potential addition of three new casino resorts. As regulators weigh in on the ten submitted bids, Genting and MGM Resorts International are emerging as frontrunners to secure two of these coveted licenses. This article delves into the contenders, analyzes their strengths and weaknesses, and explores the key factors that could determine the future of gaming in New York City.

The Strong Contenders: Genting and MGM

According to a recent analysis by City & State New York, the casino ventures operated by Genting (with Resorts World New York in Jamaica, Queens) and MGM Resorts International (operating Empire City Casino in Yonkers) are considered the leading contenders. Both established venues have a strong track record of generating significant revenue for the state and enjoy established ties within their communities.

Why Genting and MGM are Favored:

Established Presence: Both companies have been significant players in the New York gaming landscape for years.
Community Goodwill: They have built strong relationships with local communities and businesses.
Financial Investment: Genting has invested $1 billion in Empire City Casino, demonstrating a long-term commitment to the state.
Limited Opposition: Resorts World New York faces minimal opposition to its conversion into a Las Vegas-style casino, while Empire City has only faced vocal opposition from a small group within Yonkers.

The New York State Gaming Commission (NYSGC) recently strengthened the New York Gaming Facility Location Board by adding two new members. This board provides recommendations to the commission regarding site suitability, but the NYSGC ultimately decides which proposals will be awarded the licenses.

Competitive Bids and Potential Roadblocks

While Genting and MGM appear to be in a strong position, other proposals are also garnering attention. The Times Square casino plan, a collaboration between Caesars Entertainment, Jay-Z’s Roc Nation, and SL Green, is generating considerable support from local businesses and real estate firms. However, it faces opposition from theater groups and small business owners who fear it could detract from pedestrian traffic in the area.

Key Points about Other Proposals:

Times Square Casino (Caesars/Roc Nation/SL Green): Strong support, potential for economic boost, but concerns about pedestrian traffic.
Sands (Nassau Coliseum, Long Island): Received official political support and legislative endorsement, but faces environmental and traffic concerns from Hofstra University and citizen groups. The proposed casino hotel is expected to consume a substantial amount of water – approximately 750,000 gallons daily.
Bally’s (Bronx) & Metropolitan Park (Queens): Face significant land use challenges due to parkland classifications. The Bally’s bid could gain momentum if the company removes President Trump’s name from the golf course it currently operates.

Land Use Issues: A Critical Factor

Property classification issues are proving to be a major hurdle for several casino bids. Bally’s in the Bronx and Metropolitan Park in Queens are both impacted by their current parkland designations, requiring legislative action to change.

The Metropolitan Park proposal, an $8 billion venture spearheaded by New York Mets owner Steve Cohen and Hard Rock International, hinges on support from State Sen. Jessica Ramos (D-Queens). Without this support, the parkland classification cannot be removed.

Conclusion

The race for New York City casino licenses is heating up, with Genting and MGM Resorts International currently leading the pack. Their established presence, financial strength, and limited opposition position them favorably. However, the outcomes of other proposals, particularly those facing land use challenges and community concerns, remain uncertain. The NYSGC’s final decision will have a profound impact on the state’s economy and entertainment landscape. The potential for increased tourism, job creation, and tax revenue makes this a pivotal moment for New York.

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Keywords: New York casino licenses, Genting, MGM Resorts International, Empire City Casino, Resorts World New York, Times Square casino, Sands New York, Bally’s, Hard Rock International, New York State Gaming Commission.

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