After years of intense lobbying, heavy spending, and a long, winding selection process, the downstate New York casino competition has officially ended. On Monday, the New York State Gaming Commission unanimously granted commercial casino licences to Bally’s Bronx, Resorts World NYC, and Metropolitan Park.
Each licence carries a $500 million fee and comes with an important requirement: the operators must enter into agreements with independent third parties to oversee and ensure delivery of the community benefits promised during the bidding process. These agreements must remain in place for a minimum of five years from the licence date, with operators required to submit quarterly progress reports.
This condition reflects recommendations made earlier by the Gaming Facility Location Board (GFLB), which endorsed all three projects on 1 December. Prior to that, the applicants’ Community Advisory Committees had also emphasized the importance of formally binding community commitments.
The final outcome narrowed a field that once included 11 potential bidders. Four companies—Hudson’s Bay Co., Las Vegas Sands, Wynn Resorts, and MGM Resorts—chose to withdraw, while the remaining four contenders were eliminated during the community advisory review stage.
Addressing the successful applicants, NYSGC Chairman Brian O’Dwyer said, “On behalf of the state of New York, congratulations to all three recipients of these conditional licences. We look forward to seeing the promised jobs, economic growth, infrastructure investment, and gaming revenue take shape.”
What do the New York casino winners have planned?
Bally’s intends to develop a $4 billion integrated resort on a golf course it owns in the Bronx. Beyond licence and construction expenses, the company is also required to pay an additional $115 million to the Trump Organization, the property’s previous owner, under the terms of the purchase agreement.
Metropolitan Park will be a large-scale, $8 billion mixed-use development located next to the New York Mets’ Citi Field stadium in Queens. The project is a partnership between Hard Rock International and Mets owner Steve Cohen. It successfully navigated potential political challenges related to rezoning and overcame a late-stage legal objection from the US Tennis Association.
Resorts World, also based in Queens, is planning a $5.5 billion overhaul and expansion of its existing video lottery terminal site. The operator took the most aggressive approach during the bidding process, offering proposed tax rates of 56% on slot revenue and 30% on table games.
Bally’s and Metropolitan Park are both targeting openings in 2030, while Resorts World aims to launch the first phase of its expanded casino in 2026. The operator initially anticipated a July opening but later accelerated its timeline to March as competition for licences intensified.
As the process progressed, concerns around market competition grew, particularly because two of the three approved projects are located in Queens. All proposals for Manhattan-based casinos were ultimately rejected, and MGM withdrew its bid for Yonkers, leaving Queens and the Bronx as the only successful locations in the downstate licensing race.
Resorts World fulfills its New York prophecy
Resorts World emerged as an early favorite in the licensing process due to its combination of higher proposed tax rates and the quickest path to opening. As a result, its approval was widely expected compared to the other applicants.
“Resorts World New York City thanks the New York State Gaming Commission for granting final approval today,” said Robert DeSalvio, president of Genting Americas East, in a statement. “We are excited to begin operations within months as New York City’s first fully licensed commercial casino.”
If the operator meets its projected launch timeline, Resorts World will enjoy a significant first-mover advantage. It would stand as the only downstate casino licensee for at least three years, and potentially as long as four.
However, Genting Bhd, Resorts World’s parent company, still has unresolved matters to address. These include the planned $561 million sale of Resorts World Catskills to Sullivan County in upstate New York, as well as ongoing efforts to privatise its Genting Malaysia subsidiary. The Catskills transaction has been postponed until 2026 as the privatisation process continues.
One of the primary concerns surrounding Resorts World’s downstate application involved suitability issues. Earlier this year, Resorts World Las Vegas—another Genting-operated property—was fined $10.5 million for serious anti-money laundering violations.
The New York Gaming Facility Location Board noted concerns that Resorts World did not fully disclose details of that enforcement action or other penalties during the application process. Despite this, the New York State Gaming Commission confirmed on Monday that its review found no issues in Resorts World’s background or application that would prevent the granting of a licence.
Bally’s comes out of nowhere to win one for the Bronx
While Resorts World was widely expected to secure a licence, Bally’s Bronx emerged as the most surprising of the three successful bidders.
Winning approval in New York adds to Bally’s expanding portfolio of major developments, which includes projects in Chicago, Las Vegas, and overseas markets. The company’s $1.8 billion casino in Chicago is scheduled to open next year, and its majority acquisition of Australia’s Star Entertainment has recently received regulatory approval. Bally’s has also proposed a casino resort on the Las Vegas Strip, though that project remains in its early planning stages.
Former New York City mayor Eric Adams played a key role in advancing Bally’s Bronx proposal. He intervened twice to support rezoning efforts at the City Council level—first by reducing the required voting threshold and later by vetoing a subsequent vote altogether. Adams later stepped aside from the city’s mayoral race in November.
The Bronx location is particularly significant, as the fully developed Bally’s resort would represent the largest private investment ever made in the borough. The company’s strong commitments to local hiring, minority participation, and workforce diversity were influential factors in the state’s evaluation process.
Financial oversight will remain important, as Bally’s carries a high level of debt. The company has relied heavily on financing from its primary lending partner, Gaming and Leisure Properties, to support multiple deals. Although the Gaming Facility Location Board described Bally’s as a “non-investment-grade entity,” this concern ultimately did not prevent the Gaming Commission from granting approval.
“Growing up in this city, it’s a tremendous honor to be chosen by the Gaming Commission to receive a licence,” Bally’s chairman Soo Kim said in a statement. “We’ve worked hand in hand with community leaders, labor partners, and local stakeholders to create a project that brings real jobs, long-term economic growth, and a world-class entertainment destination to the Bronx.”
Metropolitan Park calls its shot, hits a home run
Metropolitan Park, like Resorts World, had long been considered a strong contender for a New York casino licence. A major factor in its success was the project’s promise to redevelop underused parking areas into a vibrant, year-round sports and entertainment destination.
The project’s financial stability was further strengthened by the involvement of New York Mets owner Steve Cohen, one of the world’s wealthiest individuals. Cohen’s deep resources, along with his longstanding ties to New York Governor Kathy Hochul and his role as a major donor to the state’s Democratic Party, helped position the proposal as one of the most secure from a funding perspective.
Despite this, local political challenges nearly stalled the US$8 billion development. State Senator Jessica Ramos, whose district covers much of the proposed site, declined to sponsor the required rezoning legislation. To overcome the impasse, Cohen’s team turned to Senator John Liu to advance the bill instead. The move sparked a public dispute between Liu and Ramos, becoming one of the more contentious moments in the licensing process.
Additional uncertainty emerged when the US Tennis Association filed a late-stage lawsuit concerning lease terms tied to the land. However, stakeholders said the issue was resolved after a revised agreement was reached with the city.
“From the moment I purchased the Mets, fans and the local community made it clear that the area around the ballpark deserved more,” Cohen said in a statement. “Now, we finally have the opportunity to deliver the sports and entertainment district they’ve been asking for.”
Metropolitan Park’s casino partner, Seminole-owned Hard Rock International, currently holds exclusive control over casino gaming and online sports betting in Florida. The company is also developing a major Las Vegas Strip resort on the former Mirage site, with an opening planned for 2027.
Hard Rock CEO Jim Allen said the company is “thrilled to build on our proven track record of creating world-class entertainment destinations here in Queens.”
