New York casino licenses near decision as Gaming Commission meets today
This week could officially mark the end of New York’s years-long casino license process, with up to three licenses on the table.
The New York State Gaming Commission will reportedly consider the casino licenses for Bally’s Bronx, Hard Rock Metropolitan Park at Willets Point, and Resorts World New York City in Queens in a meeting today, on Monday, December 15 at 1pm. This brings the years-long process closer to finishing, just shy of the deadline on Wednesday, December 31.
Up to three licenses are up for grabs, and just through would-be licensees remain, whittled down from eight original applications. However, the commission doesn’t have to hand out all three licenses.
“The Gaming Commission has already undertaken the background investigations of the applicants and is expeditiously applying its statutory license suitability criteria to ensure that these casinos are operated with utmost integrity and fiscal responsibility,” said the New York State Gaming Commissioners in a released statement on December 1.
“A New York gaming license is a privilege – and this Commission will ensure those entities fortunate enough to be selected for licensure meet New York’s rigorous standards.”
The future of New York’s casinos
The remaining three applications include: Resorts World’s plan for a $5.5 billion, 5.6 million-square-foot casino in Queens; Bally’s Bronx’s proposal for a $4 billion, 3 million-square-foot facility in the Bronx; and Metropolitan Park, a partnership between Steve Cohen and Hard Rock International to create an $8 billion casino and open space project on 50-acres of an asphalt parking lot at Citi Field, the home of the New York Mets.
Previous applications that were either rejected or pulled out included proposals from MGM Empire City, Caesars Palace Times Square, Freedom Plaza, The Avenir, and The Coney, with a minimum of $1 billion of planned investment required in order to put forward a proposal.
ReadWrite contacted the New York Gaming Commission to ask for confirmation on the decision and timeline. The commission told us that an announcement will be made at the meeting.
Featured image: Pexels
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