New York City Mayor Eric Adams and the City Council are preparing to consider changes to zoning laws that will clear the way for as many as three new casinos in the city, according to unnamed sources quoted by the New York Post.
The rumored changes would clear the way for casinos in Times Square (Caesars), Hudson Yards (Wynn Resorts), the Trump Golf Course at Ferry Point in the Bronx (Bally’s), Willets Point in Queens (Hard Rock, with Mets owner Steven Cohen) and Coney Island in Brooklyn (Thor Equities).
The process of issuing the New York licenses, which are among five authorized for New York’s downstate region, is only in the beginning stages.
Reviews of applications will include advisory boards made up of New York officials, as well as the state Legislature. Under the law, projects can only go forward with approval of the community advisory boards.
“The administration is in discussions with the City Council and our state partners to determine what, if any, zoning changes would be required in accordance with the state’s casino approval process,” a mayoral spokesman told the Post.
Meanwhile, the online portion of New York’s gaming expansion is likely to be delayed until at least 2024, according to state Senator Joe Addabbo of Queens, who has led the push among New York lawmakers to legalize iGaming.
Addabbo told reporters last week that he’s running out of time to insert iGaming into the budget plan, failure of which would effectively kill the measure for the calendar year, barring last-minute inclusion by Governor Kathy Hochul.
“iGaming is probably not going to be in the Senate one-house budget,” Addabbo told US Bets through a spokesman. “I’ll continue to monitor the issue during the year.”
Addabbo introduced Senate Bill 4856 in February. It would grant New York mobile sportsbook operators, casinos, tribes and racinos access to licenses to run mobile casino games, including slots, table games, and live-dealer games.
An independent study by Spectrum Gaming estimated that iCasino could generate as much as $3.1 billion in gross gaming revenue in its first year in the state and up to $4 billion by the fifth year, according to US Bets.
Surrounding states New Jersey, Connecticut and Pennsylvania all have legal online gaming, and Addabbo estimated to US Bets that roughly $1 billion leaves the state yearly, as mobile casino wagers are placed in other states or the black market.
