Picture a scene where personifications of all the other gambling companies were on a figurative school playground, taunting Bally’s, saying “c’mon Bally’s, everyone else is doing it.” Not to be left, it seems Bally’s is at least exploring getting into the New York casinos biz.
Although Bally’s has yet to publicly announce such plans, reports have the corporation exploring a new part of the greater New York City metro for a possible casino spot. If the reports prove true, it would give regulators in the state more to consider.
New York casinos are hot property among gambling companies
Already, there are 10 known bids for up to three potential licenses that New York should award later this year. Bally’s could make that 11.
According to Carl Campanile of the New York Post, Bally’s is eyeing a location in The Bronx. Ferry Point, to be exact, would be the site of the casino. Currently, the rumored site is located next to a public golf course on Ferry Point.
Bally’s confirmed the report on Sunday in a statement to the Post.
“We have been engaged in an ongoing series of conversations with local elected officials, community groups and key civic leaders to hear directly from them about what they would like to see from a potential new project. Our vision, which includes transforming a former waste disposal site and a high-end golf course into a world-class entertainment destination, with a focus on workforce housing and new and improved public green space at the center of the project.”
Among those local elected officials is Bronx Councilwoman Marjorie Velazquez, whom the Post quoted as being supportive of the proposal. So far, Bally’s has not released many details of its plans, though.
The only aspect Bally’s confirmed is that it expects the construction of the casino would create 15,000 temporary jobs. Additionally, the casino’s operation would require 3,500 people. To compete with existing bids, Bally’s needs to roll out an impressive offer.
Amenities, partners, money all crucial to a successful bid
To date, confirmed bids involve famous New York locations like Citi Field, Coney Island, Madison Square Garden, and Saks Fifth Avenue. The bids also involve some of the most prolific gaming entities like Caesars, Las Vegas Sands, and MGM Resorts.
They also enlist the cooperation of entertainment giant Live Nation and New York Mets owner Steve Cohen. The competition will be fierce, not only in terms of name-dropping and glitzy promises but cash as well.
The floor for the license fees is half a billion dollars, with no state-regulated ceiling. While the highest bid in terms of money won’t necessarily land a license, it certainly won’t hurt to put up the most cash. Bid values could easily surpass a billion dollars.
Whether Bally’s will blow the competition away is uncertain. What seems clear now, however, is that Bally’s won’t be left out of at least playing the game.
