The final eight bids are in, and the selection process will soon begin
New York is gearing up to award up to three downstate casino licenses by the end of 2025. A specially appointed state board is overseeing the selection process, with eight proposals currently in the running. These applications span several boroughs and Yonkers, offering a range of ambitious casino and entertainment complexes.
Among the proposals are high-profile developments in Manhattan, including Caesars Palace Times Square, backed by SL Green, Caesars Entertainment, and Roc Nation, and The Avenir, a joint effort by Silverstein Properties and Rush Street Gaming. Other proposals include the Freedom Plaza near the UN, a project from the Soloviev Group and Mohegan, and The Coney, a large-scale resort planned for Coney Island.
In Queens, Mets owner Steve Cohen is proposing Metropolitan Park near Citi Field, in partnership with Hard Rock International. Resorts World in Queens is also seeking a license to upgrade its existing racino into a full-scale casino. Bronx-based Bally’s New York Casino would be built on the current site of the Bally’s golf course, while Yonkers’ Empire City Casino, operated by MGM, is aiming for a full expansion.
Under state rules, each selected operator must pay a $500 million license fee and invest at least $500 million in their project. The revenue generated will be taxed at a minimum of 25% for slots and 10% for other games.
Before final approval, each proposal must secure a majority vote from local Community Advisory Committees (CACs). These groups, composed of local representatives, will make recommendations by September 30. The final decision from the Gaming Facility Location Board is expected by December 1, with the state collecting fees by the end of the year.
This process follows a 2013 constitutional amendment that allowed for up to seven commercial casino licenses in the state. Four have already been issued upstate, leaving three available for the NYC area and nearby regions.
