After the New York City Council approved a crucial rezoning proposal on Wednesday, Bally’s Corp.'s plan to build a casino in the Bronx was able to move forward, providing a significant boost in its bid for a downstate casino license in New York. The proposal narrowly passed in committee earlier and was ultimately approved with a vote of 32 in favor, 12 against, and 7 abstentions.
This vote reflects New York State's unique "home rule" mechanism, where the municipal authorities must legislate first, and then the state legislature can take over for review. Mayor Adams submitted a letter of support that lowered the voting threshold from the usual two-thirds majority to a simple majority, helping to push the proposal through. The state legislature is set to adjourn this week, making time of the essence.
According to city officials, the core purpose of promoting the Bally project is to "expand the range of casino applicants as much as possible." Currently, eight companies are vying for three downstate casino spots, with projects spread across Manhattan, Queens, Brooklyn, and the Bronx. MGM's Empire City Racetrack is located in the northern suburbs of Yonkers. Additionally, Wynn, Sands, and three other companies have announced their withdrawal from the competition, with the official application deadline set for June 27.
Although several city council members had reservations about the Bally project itself, they still cast favorable votes to support competition diversity. Bally’s Senior Vice President of Corporate Development, Christopher Jewett, stated in a release, "We thank the City Council, the Speaker, and the Bronx delegation for taking an important step towards advancing economic opportunities for the Bronx and the entire city of New York."
Bally proposes a $4 billion investment to create a comprehensive entertainment project at its Ferry Point golf course, including a casino, a 500-room hotel, an event center, and other community facilities. Although the project was exposed more than a year ago, it has recently sparked controversy due to its relationship with the Trump Organization. Reports indicate that if granted a casino license, Bally would need to pay an additional $115 million to the Trump side.
This backdrop led the City Council to postpone the vote at the end of May. Bally's Chairman Soo Kim commented, "They say, 'If Bally wins, Trump benefits.' This is purely political motivation." Jewett emphasized that Bally has always been committed to community building, including providing free shuttle buses and donating $8.5 million to save a local Catholic girls' school.
The city spokesperson pointed out that Mayor Adams' letter of support was completely unaffected by the Trump factor.
However, Bronx Council Member Christy Mamarot still strongly opposed, calling the project's process "shameful" and ultimately casting a dissenting vote. Political disagreements are common in casino bidding. The Metropolitan Park project in Queens also stalled due to opposition from State Senator Ramos, but was eventually approved through legislation by John Liu bypassing the controversial district, on May 27.
In Yonkers, Mayor Spano directly appealed to the state gaming commission, requesting immediate issuance of licenses for the existing infrastructure of Empire City and Resorts World, two racetrack casinos. He believes the current process has been too prolonged, stating, "New York can't wait any longer."
Although the City Council's approval is a positive development, whether Bally has the capability to land the project remains in doubt. The company's permanent casino project in Chicago faces multiple delays and funding issues, despite a budget of only $1.7 billion, and is still struggling to progress on schedule. The Las Vegas project is also waiting for land clearance and financing; internationally, it has jointly invested AUD 300 million with Australian tycoon Bruce Mathieson to become the largest shareholder of Star Entertainment, which is currently facing an anti-money laundering investigation and the risk of hefty fines.
Despite facing multiple challenges, Bally's bid for New York is still in the running. With three companies already out, other projects like Thor Equities' Coney Island case are about to face City Council votes, while several proposals in Manhattan are still in the environmental review stage. Bally is hopeful to be one of the six final surviving bidders.
