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New York is nearing the final phase of a fiercely competitive bid to award three new downstate casino licenses. Eight proposals are in contention, each with the potential to bring development, increased tax revenue and job creation.
Still, the process is clouded by disputes over community opposition, zoning complications and conflicting economic forecasts. This has led to pressing questions: Will it move forward? And if it does, how much real value will it bring to New York City and the state?
Where the New York casino license process stands now
In June 2025, eight bids were officially submitted for the three New York downstate casino licenses. Proposed locations include Manhattan, Queens, Brooklyn, the Bronx and Yonkers.
Each proposal is assessed locally by a Community Advisory Committee (CAC), which must vote two-thirds in favor of a project for it to proceed. The Gaming Facility Location Board will then make recommendations, with final licensing decisions expected by Dec. 1, 2025.
Commenting on the weight of the decision, Sen. Joe Addabbo, chair of the Racing, Gaming and Wagering Committee, said in a news story by POLITICO: “You’ve only got three chances, and you don’t want something that looks appealing at first but fades within a few years and fails to attract people.” He added that selected proposals must generate steady revenue sustainable well into the future.
The biggest New York casino proposals on the table
Here are a few of the downstate NY casino front-runners and what they are promising:
- Metropolitan Park, Queens: Future and Hard Rock International project $3.9 billion in annual revenue by the third year. The development also pledges about 6,000 permanent jobs once the complex is completed.
- Resorts World New York City: Genting Group submitted a $5.5 billion proposal to expand Resorts World into a full-scale casino. If approved, the company projects $2.2 billion in revenue by 2027, with additional growth anticipated. The plan also includes 5,000 construction jobs and 5,000 permanent positions once operational.
- MGM Empire City: Already active in the casino industry, MGM Resorts has proposed $2.3 billion in capital investment. Unlike other contenders, the company is offering a shorter development timeline, promising faster tax revenue for the state.
- Freedom Plaza: Soloviev Group and Mohegan propose more than $10.5 billion in capital investment. The project forecasts over 25,000 construction and part-time jobs, plus more than 13,000 jobs when fully operational. Developers project net revenue of roughly $2.2 billion in the first year, rising to $4.2 billion in the 10th year.
- Caesars Palace Times Square: The proposal from Caesars, in partnership with SL Green Realty and Roc Nation, seeks to renovate and repurpose existing office space at 1515 Broadway, integrating it into the neighborhood rather than displacing it. The project has gained endorsements from more than 300 organizations—including unions, hotels, Broadway stakeholders and the Garment District Alliance—for its promise of community benefit, job creation and investment in public realm improvements.
The financial barriers are high. Developers with winning proposals must pay a $500 million license fee, undertake significant capital expenditure, satisfy zoning and environmental review requirements, and secure CAC approval.
How a downstate NY casino could reshape the economy
If the NY casinos perform as projected, here’s what the city and state could gain:
- Revenue and tax dollars: Gaming operations, hotels, entertainment and related businesses could contribute billions annually in revenue and taxes.
The Freedom Plaza project alone forecasts more than $2 billion in net revenue during its first year. Taxes, license fees and other payments would provide substantial income to the state and city. The $500 million license fee per casino is a direct windfall.
- Jobs and construction spending: New projects such as Freedom Plaza are expected to employ tens of thousands during construction and thousands more permanently when completed.
The spillover effect would boost other parts of the economy, including hotels, retail, food and beverage, and transportation.
- Impact beyond NYC: While the city is the focus, the surrounding counties and suburbs are also in the downstate area. New casinos could draw tourist dollars away from upstate casinos.
Reports warn of potential revenue losses in areas such as the Catskills if too many downstate licenses are granted.
Will any New York casino plans survive local hurdles?
Yes — but not for every proposal. Only three licenses will be awarded at most, meaning that even strong projects may be left out. Local approval is more important than ever. A proposal with solid financials could still fail if rejected by a CAC or City Council, as happened in the Bronx.
The size of the economic impact will depend heavily on location, scale and amenities. Mega casino resorts are most likely to provide the highest payoff for New York.
Bottom line: Billions at stake in New York’s casino future
The casino licensing process in New York has entered its final stage. Approvals are expected by the end of 2025, with several major proposals still under review —including Caesars Palace Times Square, which has recently gained significant community support.
Even if only one or two projects move forward, the economic impact could be significant: billions in revenue, thousands of jobs and broader growth across the state.
Obstacles such as zoning disputes and community resistance are already shaping the outcome. For New York City and the state, the issue is no longer whether casinos will be built, but which proposals will be approved.
