New York’s Intensified Casino Contest Nears Conclusion
New York is on the brink of a decisive moment in its competitive casino licensing process. The state’s Gaming Facility Location Board (GFLB) is preparing to choose up to three winning casino projects from four finalists. This announcement, expected in December, will shape the future of the casino industry in the downstate area, bringing new employment opportunities and attracting billions in investment funding.
Rigorous Evaluation of Casino Proposals
The GFLB recently convened for its initial formal meeting to carefully assess the finalist submissions. Each proposal aims to significantly impact the New York metropolitan region. The board, composed of five members with expertise in finance, economic growth, and housing development, will conduct private discussions to review the bids thoroughly. After their recommendations, the New York Gaming Commission will make the final selections.
Board chair Vicki Been, who served as deputy mayor under Bill de Blasio, emphasized that the key criteria for decision-making are financial viability and community benefits. Since all proposals highlight potential economic revitalization, the board faces the critical task of selecting the most sustainable and beneficial plans.
Following a lengthy process filled with detailed reviews, public feedback, and advisory panel votes spanning several years, the competition has narrowed to four contenders: Resorts World New York City in Queens (managed by Genting), MGM Empire City in Yonkers, Bally’s Bronx, and Metropolitan Park in Queens, supported by Mets owner Steve Cohen.
Possibility of Selecting Fewer Than Three Casinos
The selection phase extended beyond many industry expectations, incorporating multiple public hearings and community input sessions that considerably reduced the candidate pool. Several notable projects in Manhattan, including proposals for Times Square and Hudson Yards, withdrew after encountering strong local resistance. In contrast, the remaining finalists generally have community support…