The news that three casino licenses were going to be available for downstate New York saw a surge of potential bids being suggested. These were eventually whittled down to 8 concrete proposals that were put forward by the deadline, but the three that would have seen casinos built in Manhattan have been rejected after a vote by the state-commissioned community advisory committee.
The state currently allows commercial and tribal casino operations, but at present doesn’t offer online alternatives. This has resulted in many New Yorkers exploring the offshore iGaming market for their favourite games like poker, roulette, and Blackjack.
More modern casino games have also caught the attention of consumers, with slots making up the majority of revenue and Plinko enjoying a cult following. Bettors have a lot of choices when looking for the best site for Plinko game variations, with sites also offering impressive bonuses and easy access for players in states where online operations are prohibited.
Despite the popularity of online casinos, the battle for three land-based casino licenses has been hard fought, with some of the biggest names from the casino industry throwing their hat in the ring.
The Manhattan Projects
A Caesars Palace proposal for Times Square, welcomed the star power of backer Jay Z, would have seen the redevelopment of 1515 Broadway to include a sprawling casino set over several floors, a five-star hotel with 992 rooms, and additional dining and entertainment space.
That proposal was shot down last week, alongside the Avenir casino plans put forward by Silverstein Properties. This involved the construction of a casino, hotel, and affordable housing project.
The latest bid to fail was the Freedom Plaza Project, proposed by the Soloviev Group, which would have been located in Midtown East, next to the UN headquarters. A subterranean casino, public park, and new apartment complex were all part of the plans, but local opposition has put an end to any hopes for a Manhattan casino in the near future.
The 5 Remaining Casino Proposals
The news that the three Manhattan projects had failed has given the remaining five a much better chance of securing one of three licenses. The multi-million dollar projects will bring jobs to the areas that are successful, both during construction and when they are operational.
The Bally’s Ferry Point Bronx proposal aims to create a sprawling complex across 18.4 acres of public golf course space. As well as a new casino, it would see the creation of an event center, hotel, and restaurants, and major improvements to the local infrastructure, including road improvements and a new clubhouse for the golf course.
An estimated 15,000 construction jobs would be created, with around 3,700 jobs available on completion. The proposal has strong backing, and taking over President Trump’s golf course could also work in their favor.
Thor Equities has put in a proposal for a $3 billion casino complex to be created in Coney Island, with a hotel, concert venue, retail space, and dining options. The complex should create 4,000 jobs after it has been completed, and a further 4,500 jobs will be created during construction.
A collaboration between the Seminole Hard Rock Entertainment organization and Steve Cohen, owner of the Mets, could see the creation of an entertainment district at a cost of $8 billion. The proposal would transform a car park adjacent to Citi Field, and the conversion of local parkland into sports fields, a live music venue, a hotel, and a casino.
The ambitious project is projected to create 23,000 jobs during construction, and when it is finished, it currently has the backing of local Queens community boards, despite State Senator Jessica Ramos stating that legislation would not be introduced to repurpose the parkland.
A $ billion upgrade of an existing racino in Yonkers has been put forward by MGM Resorts, which is hopeful that the expansion and overhaul of an existing gambling establishment will give it a good chance of securing a full casino license.
Similarly, Queens’ Resorts World New York City has been proposed by Genting as a site that would receive a $5 billion upgrade that would transform the venue from a racino into a fully licensed casino.
The state’s 13 existing commercial casinos generate approximately $3.11 billion in gross gaming revenue and $1.16 billion in gaming taxes. The addition of three new casino projects in downstate New York should see this figure rise dramatically, and will be a major boost to the local areas that win licenses.
The additional tax revenue will benefit the state, and the projected success of the three new casinos could also have a positive effect on proposals for legislative change regarding the online casino industry in New York state.
It is an exciting time for New York with the successful casino proposals joining other exciting construction projects that are coming soon to the Big Apple.
