Only three contenders remain for three potential casino licenses
The competition for New York City’s limited casino licenses has shifted following MGM Resorts International’s decision to withdraw from the race. MGM announced that it would no longer pursue a full casino conversion for its Empire City property in Yonkers, citing changing economic conditions and revised financial projections that made its proposed $2.3 billion investment less viable. The exit reshapes the landscape for the remaining contenders seeking one of the three available downstate casino licenses.
Three operators remain in contention: Genting Group, Bally’s, and a partnership between New York Mets owner Steve Cohen and Hard Rock International. Genting, which already operates Resorts World New York City in Queens, has proposed transforming its existing facility—currently limited to slots and electronic games—into a full-scale casino.
The company plans to invest $5.5 billion in site development and another $2 billion in community benefits. It has also promised the highest projected gaming revenue and taxes, aiming to open as early as June 2026.
Bally’s has proposed a $4 billion resort near its Bronx golf course, promising to turn what it calls an “underutilized corner” of the borough into a dynamic economic hub. The project would include entertainment, retail, and hospitality components designed to attract visitors from Long Island, Westchester, Connecticut, and New Jersey. The company says the development would create jobs and tourism while giving the Bronx a major destination beyond traditional gaming.
Meanwhile, Hard Rock International and Steve Cohen’s joint project, dubbed Hard Rock Metropolitan Park, is planned for Queens near Citi Field. With an estimated $8.1 billion investment, the project emphasizes its potential for the largest gaming revenue, job creation, and infrastructure upgrades.
The developers say their proposal would restore nearby parks, improve transportation links, and integrate with the area’s sports and entertainment district.
With MGM’s departure, regulators now face a narrower but still competitive field as New York moves closer to awarding the coveted downstate casino licenses.
