Bally’s executive summary submitted to the New York State Gaming Commission’s Gaming Facility Location Board (GFLB) as part of its supplemental materials package touted its $4 billion proposed casino for Ferry Point in the Bronx as a transformational venue for the borough.
Bally’s is one of three remaining finalists for as many as three downstate casino licenses that could be awarded, along with Resorts World and Hard Rock Metropolitan Park. Bally’s was a longshot among the original eight applicants, but the Community Advisory Committee (CAC) advanced its application forward by a 5-1 vote as Bronx residents came out in support of the venue, which had backing by both New York City Mayor Eric Adams and state-level politicians.
Much of its executive summary submitted Tuesday was a review of the end products of Bally’s negotiations with the CAC, highlighted by a community benefits package with a current net value of $765 million and the projection of 15,000 union-based construction jobs and 4,000 permanent positions. Bally’s also outlined its plans for growth over the first 10 years of the casino’s existence, leaning on the company’s previous success in Rhode Island, where it faces similar types of competition for gaming dollars.
Revenue projections do not appear to be different
Unlike Resorts World, which laid out its revenue projections via a study from Spectrum Gaming in its executive summary, Bally’s did not disclose those details. Its consultants, Victor Strategies and Klas Robinson, estimated an annual economic impact of $1.5 billion for the Bronx and $1.9 billion for the state of New York. It also projects the facility to deliver $370 million in annual state and local tax revenue while driving over $200 million in annual in-state purchases of goods and services…