Last year, the state held a request for information (RFI) process to gauge interest and advice from current and potential stakeholders as to what the New York State Gaming Commission should be looking for in awarding the licenses.

New York has embraced vices as a source of tax revenue recently, legalizing recreational marijuana use in July 2021 and mobile sports betting in January.The bidding process for the three new licenses to operate a full-fledged casino in or around New York City will likely be one of the most hotly contested in U.S history, with many of the nation’s most prominent operators having already expressed interest.ĭemocratic Governor Kathy Hochul signed budget legislation Monday (April 11) that will accelerate the process of issuing three new licenses likely destined for the downstate region of New York.Īlthough the state only enacted the legislation this week, discussions have been in motion for years. A Manhattan casino is expected to bring in over $1 billion in annual revenue. For the remaining spot, Caesars Palace Times Square’s most notable competitors are a midtown Manhattan casino from Wynn Resorts and Hudson Yards developer, Related Companies, unveiled last month and a joint venture from billionaire New York Mets owner Steven Cohen and Hard Rock for a casino in Queens reported to be under discussion by several outlets. MGM’s Empire City Casino in Yonkers and Resorts World New York in Queens, both of which already offer some gambling like slots but not table games, are nearly guaranteed to snap up two of the available licenses, according to several reports. New York state legislators legalized casinos in 2014, but stipulated such facilities couldn’t open in the New York City metropolitan area until 2023 or later, allocating four licenses to four upstate casinos already operating today and earmarking three for downstate facilities.

The Broadway League, a trade group for New York theaters, opposes a casino coming to Broadway, telling the New York Times: “The addition of a casino will overwhelm the already densely congested area and would jeopardize the entire neighborhood whose existence is dependent on the success of Broadway.” Key Background

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