The New York State Gaming Commission may be granting three casino licenses by the end of 2025, but who will come out on top, as the race has now come down to the final three? Gambling giant MGM Resorts International abruptly withdrew its $2.3 billion bid for an Empire City Casino expansion in Yonkers due to “newly issued guidance” shortening the expected license term from 30 years to 15 years. This leaves Resorts World New York City, Metropolitan Park, and Bally’s Bronx as the final three proposals under consideration for one of the state’s highly coveted downstate casino licenses.
Inside the Battle for NYC’s Casino Licenses
As it stands, the contenders are competing for three available licenses, and final selections are likely to be finalized by December 31, 2025. With the process nearing its end, tensions are starting to rise, and the price of entry is steep. Each applicant has to pay a $500 million license fee to New York State and commit to a minimum $500 million capital investment. The license holders were also required to complete land entitlement and environmental reviews before September 30, 2025.
Many New Yorkers are watching the casino race with keen interest, not just for the new resorts themselves, but also for the opportunities they could bring. With the launch of these licenses, residents may soon see a range of promotions and incentives similar to casino bonus codes used in online casinos. According to casino expert Wilna van Wyk, the most important aspects of these incentives are the size of the bonus, as well as the terms and conditions attached.
In the same breath, many residents across the United States have also started being more curious about online poker, as players explore strategies, promotions, and competitive play in other states. This public curiosity is a reflection of just how much attention the race for these licenses has drawn due to the promise of economic gains. The three eventual winners are expected to bring in at least $1.5 billion in upfront license revenue for the state.
Each proposal must win over local Community Advisory Committees (CACs), which hold public hearings and require two-thirds community approval for a bid to advance. Once community reviews are complete, the New York Gaming Facility Location Board will recommend finalists by December 1, 2025, with full licenses to follow by year’s end.
MGM Dropping the Bid
MGM Resorts was considered a frontrunner due to its established Empire City Casino in Yonkers (a “racino” bringing in strong returns). The company’s proposed $2.3 billion redevelopment would have added a 5,000-seat arena, a luxury hotel, and a modern sportsbook. However, they stated that the shortened 15-year license term made it difficult to justify the $500 million investment.
MGM’s exit follows similar decisions by Wynn Resorts and Las Vegas Sands, which previously abandoned their respective projects in Hudson Yards and Long Island. What began as a crowded contest among more than a dozen bidders has now narrowed to three viable contenders for three available licenses.
The Remaining Contenders and Their Projects
As the only established casino operator in New York City, Resorts World is widely viewed as the most secure bet to receive one of the licenses. Backed by Malaysia’s Genting Group, they operate their racino at the Aqueduct Racetrack and hope to expand it into a full casino resort.
The company plans to invest approximately $5 billion to add a 1,600-room hotel, a 7,000-seat performance arena, and more gaming and dining facilities. Genting Americas East President Robert DeSalvio highlighted the site’s success and its intent to create about 10,000 jobs and increase tax revenue as early as July 2026.
The next project has already secured unanimous CAC approval, which ahs positioned it as one of the strongest contenders. The Metropolitan Park project (worth $8 billion) was developed by New York Mets owner Steve Cohen in partnership with Hard Rock International. Plans include a 2,300-room hotel, outdoor green space, and a casino area that will be integrated into the resort community design.
Although this project passed its community review, some residents are still concerned about traffic and environmental effects. Bally’s Bronx has proposed transforming the former Trump Golf Links site at Ferry Point into a 3.1-million-square-foot casino and hotel complex valued at around $4 billion. The site near the Whitestone Bridge will feature gaming areas, a resort-style hotel, and public amenities.
The Final Evaluation Awaits
The final phase of evaluation will determine which projects receive approval from the New York State Gaming Facility Location Board and the New York State Gaming Commission. The criteria for each proposal will be scored based on Economic Development (70%), Local Impact (10%), Workforce (10%), and Diversity (10%).
Once they reach the “blind bidding” stage, finalists will submit confidential tax-rate proposals that will help determine which projects deliver the highest financial return to the state. The minimum tax rates are set at 25% on slot machine revenue and 10% on table games, but applicants can offer higher rates to make their bids more appealing.
Even though Manhattan and Brooklyn proposals faced opposition earlier on in the process, the remaining projects have managed to secure community backing, which could make approval smoother. All three remaining contenders have already cleared the community approval milestone, giving them a strong foundation heading into the final state review.
