New York State Gaming Facility Location Board Approves New June 2025 Bid Deadline

The New York State Gaming Facility Location Board has extended the bid deadline for three downstate casinos to June 27, 2025.

This decision contrasts with NY Senate Bill S9673A, introduced by Sen. Joe Addabbo and passed earlier in June, that aims to set the deadline for Aug. 31, 2024. The bill is still awaiting Gov. Kathy Hochul’s signature, and the earlier deadline is considered urgent to expedite the resumption of operations and start addressing the funding gap.

Key takeaways

• The New York State Gaming Facility Location Board has extended the bid deadline for the three downstate casinos to June 27, 2025.
• The bid winners will be announced by Dec. 1, 2025, and must pay a $500 million license fee by Dec. 31, 2025.
• There are already 11 applicants vying for the three downstate casino slots in areas ranging from Times Square to Brooklyn.
• Bids include notable developers and casino operators such as Caesars Entertainment, MGM Resorts International, and Wynn Resorts.

Legislative decision allows for seven casinos in New York

According to a New York legislature decision voted on in 2013, the state can have four upstate and three downstate casinos. These are brick-and-mortar facilities located in and around the Empire City.

Although NY has taken an additional 10 years and counting to get the downstate casinos operational, the initial delay was intended to allow the upstate casinos to establish themselves first.

If Hochul approves the August deadline, it could cause discord, as the board believes this timeline is impractical and provides too short notice. Board member Stuart Rabinowitz mentioned that the August 2024 deadline “would put some potential applicants under a lot of pressure and would favor some and disfavor others.”

Steps for review process of downstate NY casino license applications

As part of the screening process for obtaining a license for the three downstate casinos, qualified bids will first undergo review by a six-person Community Advisory Committee (CAC). This committee will include:

1. Hochul
2. New York City Mayor Eric Adams
3. The corresponding borough president
4. An assembly person
5. A city council member
6. The applicable state senator

If a bid secures the support of its CAC by Sept. 30, 2025, the board will review it between November and December, with winners announced by Dec. 1.

All applicants must also complete all entitlement processes, such as acquiring land-use permits and zoning approvals. Winners must pay a $500 million license fee by Dec. 31, 2025.

In a NY State Gaming Facility Location Board meeting Chair Vicki Been said:

“This timeline encompasses all legal requirements that potential bidders must meet before we may evaluate applications.

This roadmap also gives communities ample opportunity to have their voices heard, establishes a level playing field among multiple competitors, and affords serious applicants the opportunity to participate in a lucrative and transformational process.”

11 applicants compete for three downstate casinos in New York

The state has 11 applicants bidding for the three downstate casinos. These bidders include:

• Avenir, Developer: Silverstein Properties; Casino Operator: Greenwood Gaming; Location: Manhattan
• Bally’s Links at Ferry Point, Developer and Casino Operator: Bally’s Corporation (NYSE: BALY); Location: The Bronx
• Caesars Palace Times Square, Developers: Caesars Entertainment (NASDAQ: CZR), SL Green, Roc Nation; Casino Operator: Caesars Entertainment; Location: Manhattan
• The Coney, Developers: Thor Equities, Legends Entertainment, the Chickasaw Nation, Saratoga Casino Holdings; Casino Operator: Saratoga Casino Holdings; Location: Brooklyn
• Freedom Plaza, Developer: Soloviev Group; Casino Operator: Mohegan Gaming; Location: Manhattan
• Metropolitan Park, Developer: Steven Cohen; Casino Operator: Hard Rock International; Location: Queens
• MGM Empire City, Developer and Casino Operator: MGM Resorts International (NYSE: MGM); Location: Yonkers
• Resorts World New York City, Developer and Casino Operator: Genting Group; Location: Queens
• Sands New York, Developer and Casino Operator: Las Vegas Sands; Location: Long Island, Nassau County
• Saks Fifth Avenue, Developer: Hudson’s Bay Company; Casino Operator: TBD; Location: Manhattan
• Wynn New York City, Developers: Related Companies, Oxford Properties Group; Casino Operator: Wynn Resorts; Location: Manhattan

Meanwhile, in other state news, the issue of online casinos in New York remains unresolved, with no significant progress made.

However, if Hochul calls for a special session this year to discuss funding for the Metropolitan Transit Authority (MTA), it could provide an opportunity for further deliberation on the New York online casino bill.