New York Nears Pivotal Moment in Downstate Casino Race

With just four contestants left, the remaining projects must face a five-member board that will judge their financial viability, effect on the local economy, and social impactImage Source: Shutterstock.com

New York’s high-sngakes casino competition is entering its final stage as the state’s Gaming Facility Location Board(GFLB) is almost ready to select up to three winners from four remaining contenders. The outcome, which is due to be revealed in December, will determine the future of downstate gaming, creating new job opportunities and attracting billions of dollars in investments.

The Proposals Must Meet Strict Standards

The board held its first official meeting on Wednesday to weigh the finalists’ proposals. Each of the remaining projects promises to transform the New York metropolitan area. The five board members, appointed for their expertise in finance, economic development, and housing, will begin closed-door discussions to evaluate the four bids. Once the board makes its recommendations, theNew York Gaming Commissionwill select the winners.

According to Spectrum News, Board chair Vicki Been, a former deputy mayor under Bill de Blasio, noted that financial stability and community enhancement would be deciding factors in the decision-making process. With all four remaining proposals promising to revitalize the local economy, it will be up to the boardto select the most feasible plans.

After aprolonged processinvolving review, public consultation, and local advisory votes that took several years, only four finalists remain. These are Resorts World New York City, located in Queens and run by Genting,MGM Empire City in Yonkers, Bally’s Bronx, and Metropolitan Park, a Queens project backed by Mets owner Steve Cohen. 

New York Could Select Fewer than Three Winners

The selection process took longer than many industry sngakeholders expected and included months of public hearings and community advisory panel votes, which significantly narrowed downthe candidates. Several prominent Manhattan bids, including projects in Times Square and Hudson Yards, withdrew from the raceafter facing significant opposition from locals. By contrast, the remaining proposals largely enjoy a community backing.

According to the state’s rules, the GFLB can select up to three winners but isnot requiredto do so. Each applicant must submitfinal supplemental materials, like proposed tax structures and economic projections, by October 14. The board’s evaluation will likely prioritize long-term financial impact, job creation, and the viability of each development plan.

Resorts World and MGM Empire City are considered favoritesdue to their existing VLT operations, which generatesubstantial revenuesand could easily be upscaled. Meanwhile,  Bally’s Bronx and Cohen’s Metropolitan Park have attracted significant interest due to their promises oflarge-scale redevelopmentand community investment. No matter which projects prevail, New York’s gambling scene is up for a substantial shakeup.