The competition for three downstate casino licenses in New York is heating up, as there were several developments last week involving major bidders for projects in and around New York City.
Despite this, New York City Mayor Eric Adams is not commenting on any of the developments. Adams said in a recent press conference that he hasn’t been paying any attention to the bidding process, which so far includes proposals from Bally’s Corporation, Soloviev Group/Mohegan Gaming & Entertainment, Saks Fifth Avenue, Vornado, MLB Mets owner Steve Cohen, MGM Resorts, Genting Malaysia, Caesars and SL Green Realty, Wynn Resorts and a consortium comprised of Saratoga, Legends and Thor Equities.
The proposals are for casino projects in prominent locations across New York’s five boroughs, including Times Square and the top floors at Saks Fifth Avenue in Manhattan, Coney Island in Brooklyn, adjacent to the Mets ballpark in Queens, at former President Donald Trump’s golf course in the Bronx and at the site of Nassau Coliseum on Long Island.
“I have not been following the casino dance, because of my understanding it’s the Gaming Commission that’s going to make the ultimate decision,” Adams said, according to the New York Daily News.. “I just think that we should have it somewhere here in the city. I have not been following this at all.”
The press conference followed a story in Politico that revealed Adams’ former chief of staff, Frank Carone, has signed an agreement to partner with Greenberg Traurig, the law firm representing commercial landlord SL Green in its bid to open a casino in Times Square with Caesars Entertainment and Jay-Z’s Roc Nation.
In a statement to Politico, Carone said he’ll help to create “a diversified community-engagement hiring plan as part of the proposal for a Times Square gaming destination.”
Caesars, meanwhile, is determined not to get into a bidding war over the Times Square casino, according to the operator’s CEO, Tom Reeg, who addressed the subject during an earnings call with Wall Street analysts last week.
“We believe we have the project that will open the quickest and will start paying New York taxes the quickest and an area that doesn’t need zoning approval,” Reeg said, according to CDC Gaming Reports.
“It’s already tourist-focused, but I can assure you we’re not going to be the one who wins because we built the biggest housing development outside of our casino,” Reed said. “We’re going to win this on the merits of the property and how quickly we can get open and how well it fits into the local environment. If it becomes an arms race of who’s going to spend the most money, we won’t win.”
In another New York development, the consortium proposing the Coney Island casino—Thor Equities, Saratoga Casino Holdings, the Chickasaw Nation and Legends—announced that former Brooklyn Councilman and Doe Fund Executive Vice President Robert Cornegy is joining the venue team as the group prepares its license application.
“This project represents Brooklyn’s next big moment, and I can’t think of a better place for a world-class entertainment venue than right here in Coney Island,” Cornegy said, according to AmNews. “We have such a vibrant group of locally owned businesses that have been calling out for a year-round economic driver, and I am looking forward to working with our community to help show the state that Brooklyn is ready for this venture.”
Cornegy has led a number of community initiatives, both during his time on the New York City Council and thereafter.
“We are putting together a community-first bid, and there is no one better to spearhead that effort than Robert,” said Melissa Gliatta, Thor Equities’ chief operating officer.
“Whether it was working tirelessly to pass legislation that supported MWBE business owners or personally walking the streets of Coney Island to assist in the recovery after Superstorm Sandy, Robert has always put Brooklyn first. We are excited to have him join our comprehensive team.”
