The state of New York could announce a request for proposals for a New York City casino as soon as next month, and it’s reported that industry giants Wynn Resorts and Las Vegas Sands are firmly in the hunt.
The city had been in line for up to three licenses for full-scale casinos under enabling legislation dating back to 2013, but a 10-year hold was imposed on the process to allow the state’s four upstate casinos time to get on their feet.
But that’s all changed amidst a pandemic-fueled economic crisis that has resulted in massive job losses and plunging tax revenues statewide.
The accelerated timetable, reported by the New York Post, is being pushed by state lawmakers eager to win approval for the licenses as soon as this year.
Two of the three licenses are expected to go to the big racinos already ensconced in the metropolitan area: Resorts World New York City at Aqueduct racetrack in Queens and MGM Resorts International’s Empire City Casino at Yonkers Raceway.
It’s the third license that’s up for grabs, and with the possibility that it could be awarded to Manhattan, it’s highly coveted.
“We are eager to bring our expertise and resources to New York, a move that could bring needed revenue, thousands of jobs and help rebuild the state from the devastating effects of Covid,” said Las Vegas Sands Chairman and CEO Rob Goldstein.
Wynn Resorts declined to comment, according to the Post, which noted in the same report that Rhode Island-based regional casino giant Bally’s also plans to bid.
But Manhattan is far from certain, one informed observer describing it to the Post as a “no-fly zone.”
Alternate locations being touted are: Willets Point in Queens, home to the New York Mets’ Citi Field; Belmont Park in Long Island, which is home to Belmont Park racetrack and the NHL’s New York Islanders stadium; and Staten Island’s St. George neighborhood, home to both the Staten Island Ferry and the New York Wheel, a proposed 630-foot amusement attraction to be located next to a major retail complex.
As one source close to the process told the Post: “Bidders will need to negotiate with political powers in the boroughs. This will be a political process.”
