After years of fierce competition and political maneuvering, the much-anticipated casino license for New York City and its surrounding areas is about to be settled. From more than ten competitors initially to just three remaining, the New York State Gaming Facility Location Board will convene on December 1st to decide whether to issue the precious licenses and to which giants they will be awarded. This commercial competition, with total bets amounting to tens of billions of dollars, is finally coming to its ultimate judgment.
Final Review and Stringent Criteria
The committee's five members will announce the decision at the Proshansky Auditorium of the Graduate Center of the City University of New York. According to the law, up to three licenses can be issued for New York City, Long Island, and Westchester County, but the committee has the full authority not to issue any. The evaluation criteria are quite strict, with economic activity and business development capabilities accounting for 70% of the total score, essentially focusing on who can generate the most money and stimulate the economy. The remaining 30% depends on community impact, labor development, and diversity plans, each accounting for 10%. The committee members have recently completed on-site inspections of all three candidate sites, and the final assessment is in its final stages.
Top Three Proposals and Massive Investments
The three remaining proposals on the table are all strong and ambitious. Genting Group's "Resorts World New York" plans to invest $5.5 billion to upgrade its video lottery terminal venue at the Aqueduct Racetrack in Queens into a full casino with table games, and promises an additional $600 million in license fees upfront. New York Mets owner Steve Cohen, in collaboration with Hard Rock Group's "Urban Park" project, has the most grandiose vision, planning to invest $8 billion to transform the area around Citi Field into a resort destination integrating gambling, hotels, dining, and large public spaces. Bally's Corporation proposes to build a $4 billion casino complex near the ferry point golf course in the Bronx.
Economic Impact and Final Suspense
All contenders have thrown in tempting tax promises to up the ante. Resorts World expects to contribute $1.7 billion in annual taxes, the Urban Park project is estimated at $850 million, and Bally’s at $350 million. These figures not only concern state finances but also directly affect the budget of the Metropolitan Transportation Authority—the agency has already incorporated an anticipated $1.5 billion in license fees into its 2026-2029 budget. Therefore, it is generally believed that the committee is under pressure to approve all three licenses, with each license holder required to pay a $500 million fee to the state government, a significant amount. For readers interested in the global gambling market landscape, the impact of such major license decisions is profound, and more in-depth analysis can be obtained from professional platforms like PASA's official website.
The final decision rests with the committee, after which the New York State Gaming Commission will conduct the final financial and ethical compliance review. Whether New York will welcome one, two, or three new casinos, or maintain the status quo, the answer will soon be revealed.
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