The competition for three casino licenses in the New York City area has been ongoing for over two years and may extend another 18 months or more.
Proposals for multi-billion dollar projects have been suggested near Citi Field, Hudson Yards, Times Square, the United Nations, The Bronx, Coney Island, and adjacent to Nassau Coliseum on Long Island.
However, by the end of a one-hour panel at The Racing and Gaming Conference in Saratoga Springs this week, it became apparent that the outcome might be more mundane—and not until the end of 2025 at the earliest.
The likely result could simply be upgrading the Yonkers Raceway in Westchester County and Aqueduct Raceway in Queens from horse racing tracks and slots parlors to full-fledged casinos.
Such a scenario would be a significant win for MGM and Genting, the owners of the racinos, and would provide the state with a combined $1 billion in one-time licensing fees.
However, it would disappoint those curious about a Manhattan casino, as the discussion highlighted how the highly anticipated bidding war might ultimately fizzle out.
Community (puffs its) chest
A crucial factor is that any bidder must gain the support of two-thirds of a “Community Advisory Committee” before the “Gaming Facility Location Board,” comprised of five members appointed by Governor Kathy Hochul, can review the application.
Historically, established gambling sites like racetracks face minimal public opposition to gambling expansion. However, the introduction of a casino—particularly a multi-billion dollar project—is often viewed by many elected officials as politically risky.
