Despite the unanimous recommendation of three finalists by the New York State Casino Site Selection Board this week, it does not mean they are sure winners. A detailed 30-page analysis report shows that the board is filled with "disappointment" and "concern" about these proposals, far from the optimism expressed in public statements. The ultimate authority lies with the New York State Gaming Commission, and the results will be announced before December 31.
Unanimous Approval Behind: Report Filled with "Disappointment" and "Concern"
Behind the board's unanimous approval, there is actually a realistic helplessness. New York State, especially the Metropolitan Transportation Authority, has already included substantial casino taxes and license fees in future budgets. This might force the board to lean towards full recommendation to ensure the expected funds are in place. However, the internal report is harshly worded, repeatedly using terms like "disappointment" and "concern," and strongly demands that the State Gaming Commission and local officials strictly supervise the bidders to fulfill their promises in employment, diversity, and community benefits. The board expects that by 2033, when the market stabilizes, the total gaming revenue of all licensed institutions could reach $5.5 billion, which is nearly one-third lower than the most optimistic bidder's estimate.
Cold Reception for Popular Candidate: Resorts World Faces Multiple Queries
Originally considered the strongest candidate, "Resorts World New York" faced the sharpest criticism. Its rapid opening (target March 2026) and high tax proposal (slots 56%, table games 30%) were key to its recommendation, but the board expressed dissatisfaction with several details. For example, after learning about competitors' tax rates, Resorts World requested a tax reduction after approval, which was explicitly refused by the board. Additionally, of its promised total investment of $7.5 billion, only 1% is expected to benefit businesses in Queens, where the project is located, which was criticized in the report as "extremely low and should be improved." The board also pointed out that its parent company, Genting Group, has a history of "delays or cost overruns" and has not fully disclosed the penalty records of its existing properties in New York, considering this lack of transparency "concerning."
Pros and Cons of the Other Two: Stability of Hudson Yards and Commitments of Bally's
Compared to others, the "Metropolitan Park" proposal, jointly launched by Hard Rock and New York Mets owner Steve Cohen, received the least criticism. The board considers its finances robust and its brand appealing, with a total investment of $8.3 billion and a capital input of $5.3 billion also showing strong capabilities. However, the specifics of its traffic solutions and community benefit commitments remain regulatory concerns.
"Bally's Bronx" proposal is highly praised for its employment and diversity commitments, and its design including a golf course is seen as a unique advantage. However, the report admits that Bally's is a "high leverage, non-investment grade" entity with limited experience in large greenfield developments. More amusingly, in the submitted internal diversity data, 36% of the executive racial information was not provided, which the board criticized as "an unacceptable response." For more in-depth analysis of the global gaming market, follow the PASA official website for industry insights.
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