There is a war brewing for the three gambling licenses for the New York City area. The licenses were slated to go to downstate New York in April after the state legislature authorized the licenses. Who will get them, however, is up for much speculation.
What isn’t in doubt is that they are some of the most coveted pieces of paper in the world. New York City, and surrounding areas, are home to more than 23 million people and represent a mecca for tourists. It is the one of the last major metropolitan areas in the United States that doesn’t have a casino.
A handful of companies would like to change that. The application process could open any day, but by law must open by January 6. State gambling regulators have said no decisions on the three licenses would be approved until “later in 2023.”
That would give developers and casino companies the necessary time to gather community support, which is integral to any facility getting approval.
Each application must have a Community Advisory Committee that will hold public hearings to see if it is supported by residents. For some, they might not get past this process.
If they do, the state’s Gaming Facility Location Board will make recommendations to the state’s Gaming Commission, who has the final say on who gets one of the three licenses.
It is thought that two of the city’s licenses will go to the area’s racinos. One is Resorts World in Queens, the other is Empire City Casino in Yonkers. They have slots and electronic table games and could easily – and quickly – adapt to live Vegas-style gambling if awarded a license.
Most of the speculation is on who would get the final license. Two front runners are Related Companies and Wynn Resorts, who want to build in Hudson Yards on Manhattan’s west side, and SL Green Realty Corp., who is eyeing a spot in Times Square.
Another possible major candidate appears to be Steven Cohen, who owns the New York Mets and is rumored to be in discussions with Hard Rock and/or Las Vegas Sands to build a casino next to Citi Field.
An obscure candidate is Joseph Sitt, who owns a real estate investment firm. He is rumored to be trying to put together a plan to build the casino in Coney Island in Brooklyn.
