The New York State Gaming Facility Location Board on Thursday supplied an up to date timeline for the issuing of the three downstate on line casino concessions.
New York Metropolis’s Manhattan is seen wanting south on the Empire State Constructing and Decrease Manhattan. The New York State Gaming Facility Location Board this week supplied a brand new timeline for the issuing of the three downstate on line casino licenses. (Picture: Shutterstock)
New York residents in 2013 voted in favor of amending the state structure to allow Las Vegas-style industrial casinos. The vote licensed 4 upstate and three downstate casinos, however the downstate concessions had been delayed 10 years to permit the upstate properties to determine their buyer bases.
The moratorium on the downstate licenses is over and a slew of builders have prepped multibillion-dollar bids. Many state lawmakers have urged the State Gaming Facility Location Board and Gov. Kathy Hochul (D) to expedite the method, because the licenses had been initially supposed to be awarded this 12 months however the state company in March conceded the method would seemingly drag into late 2025.
The board supplied up to date steering on when the coveted downstate licenses will likely be granted. For these wishing to get the resorts up and operating as quickly as potential, the assertion received’t be welcomed.
Downstate Particulars
The New York State Gaming Facility Location Board says purposes for the downstate licenses are due by June 27, 2025. Every certified bid will likely be designated a six-person Group Advisory Committee (CAC) consisting of Hochul, New York Metropolis Mayor Eric Adams (D), the borough president, and relevant state senator, assemblyperson, and metropolis councilor.
Every on line casino pitch should safe the assist of their CAC by Sept. 30, 2025. The Gaming Facility Location Board says it’s going to then take October and November to evaluation the submitted bids with CAC backing and render its winners by Dec. 1, 2025.
Successful on line casino bids should submit their $500 million license charges to the state by Dec. 31, 2025.
This timeline encompasses all authorized necessities that potential bidders should meet earlier than we could consider purposes,” stated Board Chair Vicki Been. “This roadmap additionally offers communities ample alternative to have their voices heard, establishes a degree taking part in area amongst a number of opponents, and affords severe candidates the chance to take part in a profitable and transformational course of.”
Together with acquiring a CAC endorsement, every on line casino applicant, the Gaming Facility Location Board stated, should full all entitlement processes equivalent to buying land-use permits and zoning signoffs. The Board says the pushback of purposes to the June 27, 2025, deadline ranges the taking part in area for a number of bids that proceed to labor to safe native approvals for his or her gaming resort initiatives.
“At the least 4 publicly identified potential candidates usually are not at the moment capable of avail themselves of the zoning change on account of particular necessities not lined by the modification, together with mapping modifications, grading, or revocable consent to assemble over streets. The New York Metropolis Division of Metropolis Planning has suggested the Board that the 4 impacted entities anticipate to emerge from the zoning (ULURP) course of by the top of June 2025,” the Board defined.
Environmental Overview Tedious
The Board added that bids should additionally endure a State Environmental High quality Overview.
SEQR course of is prolonged, with the aim to establish any potential antagonistic environmental results of proposed actions, assesses their significance, and suggest measures to remove or mitigate important impacts,” the Board launch defined. “Candidates are anticipated to be considerably full with the environmental opinions by the top of June 2025.”
MGM Resorts and Genting are the front-runners for 2 of the licenses that will permit their respective video lottery racinos — Empire Metropolis in Yonkers and Resorts World in Queens — to grow to be full-scale casinos with Las Vegas-style slots, stay vendor desk video games, and sportsbooks. Different corporations that proceed to develop downstate bids embrace Exhausting Rock Worldwide, Wynn Resorts, Las Vegas Sands, Bally’s, Mohegan, and Caesars Leisure.
