Real estate developers and gambling executives have spent the better part of the past two years crafting multibillion-dollar bids built around the idea of opening a new casino in New York City.
As it stands, 11 major proposals are competing for up to three new downstate casino licenses in the Big Apple. State officials are expected to decide by the end of this year.
There is a lot to digest from the plans themselves to the politics involved in getting a project in the coveted top 3, but Aaron Short from cityandstateny.com has done an excellent job breaking it all down.
Here’s a summary of Aaron’s work on each proposal, highlighting the key points and current status, with renderings added by Action Network.
Wynn Resorts at Hudson Yards West
Wynn Resorts and Related Companies are eyeing Manhattan's Far West Side at Hudson Yards West.
Their $12 billion plan includes an 80-story skyscraper built atop the Hudson Yards rail yard. The casino itself would stretch over five floors of a tower that stands nearly 1,200 feet, and would be home to a 1,750-room hotel, conference center, and spaces for shopping and dining. One of the two additional buildings includes a K-8 school.
In terms of progress, Wynn and Related revealed new renderings of the project in August, but in January, Manhattan Community Board 4 voted against a zoning change required for the casino development, indicating potential hurdles ahead.
Coney Island Casino Proposal
Thor Equities proposed "The Coney," a $3 billion casino in Coney Island. The project includes a 1.4-million-square-foot complex with a 32-story hotel featuring 500 rooms, a 2,500-seat concert venue, 90,000 square feet for events, and 70,000 square feet for retail and dining.
The development aims to create 4,500 construction jobs and 4,000 unionized casino jobs to support Coney Island's revitalization and transform it into a year-round destination. However, the community opposes the casino plan.
In January, Brooklyn Community Board 13 rejected a land use application that involved closing Bowery Street and purchasing air rights from nearby buildings.
Metropolitan Park
Mets owner Steve Cohen and Seminole Hard Rock Entertainment plan to turn 50 acres of parkland, including a Citi Field parking lot, into an $8 billion entertainment district. Their proposal features a casino, a Hard Rock-branded hotel with 2,300 rooms, a live music venue, a food hall, and athletic fields.
Unlike many other bids, this project has received support from some community boards and has the backing of Queens Borough President Donovan Richards. Cohen has hired numerous lobbyists, appears to have the support of the governor, held community meetings, and commissioned a poll showing that most residents favor a casino. Additionally, the area, Willets Point, will host New York City Football Club's new soccer stadium in 2027.
However, State Senator Jessica Ramos opposes the project. Without her support, the bid faces a narrow path forward. Cohen needs another state Senate colleague of Ramos to introduce the parkland alienation legislation necessary for the project, but lawmakers typically follow the lead of local members on land use issues.
Nassau Coliseum Casino and Resort Plan
Las Vegas Sands and RXR Realty propose a $6 billion casino and resort at the Nassau Coliseum site. Their plan includes a 400,000-square-foot casino, space for dining and retail, and a hotel with 1,670 rooms.
Nassau County legislators support the proposal, which would revive the sports arena area with jobs and tourism. The problem is that residents worry about traffic and parking issues, while civic leaders are concerned about the resort's projected use of 750,000 gallons of water daily.
Resorts World New York City
Genting plans to invest $5 billion to expand Resorts World New York City into a larger entertainment destination.
The expansion includes a 2-million-square-foot area with a 350,000-square-foot casino floor, a 1,600-room hotel, a 7,000-seat arena, extensive meeting spaces, and 30 new dining options.
Genting is a strong contender for a full casino license, particularly with support from Queens politicians. Since opening, Resorts World has put $1.1 billion into Southeast Queens and contributed $4.5 billion to New York’s public education fund. Genting could quickly transition to a full casino, generating revenue for the state faster than other bidders.
But state officials might favor new operators if they think Resorts World has maxed out its revenue potential. Additionally, a Nevada Gaming Control Board complaint against Resorts World Las Vegas for allegedly breaking anti-money laundering laws has raised concerns in New York.
Empire City Casino
MGM Resorts plans to invest more than $2 billion to upgrade and expand its Empire City racino facility by 845,000 square feet. This project includes a remodeled 192,500-square-foot casino, a 5,000-seat entertainment venue, new bars and restaurants, and a 9,000-square-foot sportsbook and lounge.
Empire City Casino is a strong candidate for a full casino license due to its previous $1 billion investment in the property, a factor that the Gaming Facility Location Board considers, and its supportive relationship with Westchester business leaders. Last fall, MGM raised $850 million by selling corporate debt, providing financial flexibility for these upgrades.
Unfortunately, state officials might prefer to give licenses to new operators if they question Empire City's ability to significantly increase revenue. Additionally, some Yonkers residents are concerned about potential traffic and flooding issues arising from the casino's expansion.
Bally's Bronx Casino Proposal
Bally's plans to construct a casino resort on a 192-acre public golf course at Ferry Point Park. The proposed 3.1 million-square-foot complex includes a casino, a 500-room hotel with meeting spaces, and a 2,000-seat event center. The project is expected to generate 15,000 construction jobs and 3,700 unionized positions upon completion.
Bally's benefits from strong lobbyist support and favorable relations with Democratic leaders. The company is financially stable following its acquisition by Chair Soo Kim’s hedge fund.
Bally's has not yet secured approval from the state Legislature to use parkland for the casino. Legislators are hesitant to approve the alienation of parkland, which may force Bally's to adjust its design to avoid using public park space.
Freedom Plaza
The Soloviev Group collaborated with Mohegan and the Bjarke Ingels Group to propose a $10 billion casino resort. They plan to build it on a 6.7-acre site and include a 1,200-room hotel, shops, a food market, and waterfront park space.
Last year, a staff member from Rep. Jerry Nadler’s office mentioned at a town hall meeting that Manhattan is likely to get a casino because "this is where the money is." However, residents of Turtle Bay and Murray Hill, who are among the most politically active in the city, have strong negative opinions about the plan. This information comes from a 2023 survey conducted by the Murray Hill Association.
Caesars Palace Times Square
Caesars, Roc Nation, and SL Green have proposed building a $4 billion casino hotel in the center of Times Square. The Caesars Palace Times Square plan includes a skyscraper with a 250,000-square-foot casino spanning eight floors, a 950-room hotel, and various restaurant spaces. This project promises to create 6,000 construction jobs.
Times Square currently lacks a casino, and this smaller project compared to others has the potential to generate substantial revenue due to its prime location. The city's commercial real estate industry, which has strong political connections, is backing this plan.
However, Broadway theater owners and community leaders want Times Square to remain unchanged. The Broadway League, which is also politically influential, believes that adding a casino would harm their business.
Saks Fifth Avenue
Hudson’s Bay Company plans to transform the top three floors of its luxury department store into a 200,000-square-foot casino. It’s being billed as a Monte Carlo-style luxury destination aimed at attracting high-end clients.
The plan includes an open rooftop patio overlooking Rockefeller Center and a separate entrance on 49th Street. Unlike other proposals, Hudson’s Bay Company will not alter the size of its building to accommodate the casino, allowing it to start the project sooner.
However, this project faces the same challenges as other potential Manhattan casinos, namely strong community opposition. Manhattan Community Board 5 voted against a city zoning amendment, and there has been less excitement about this project compared to other bids, and it offers few new community amenities.
The Avenir
Silverstein Properties and Greenwood Gaming & Entertainment have proposed a 1.8 million-square-foot project with two towers. This development will include an eight-story casino, a 1,000-room hotel, a 1,000-seat performance hall, and 100 affordable housing units.
Larry Silverstein, Chair of Silverstein Properties, is highly respected for rebuilding the World Trade Center site after the 9/11 attacks. Despite being a short distance from the Port Authority bus terminal and the Javits Center, the site is relatively isolated on Manhattan's far West Side.
The Lobbying For The New York City Casinos Will Continue
Promising to boost tourism, revitalize neighborhoods, and create new green spaces for public enjoyment may or may not be enough to land one of the three coveted licenses.
Each proposal has gone through rounds of presentations and renderings shown to local community and planning boards to secure critical zoning approvals before the state Gaming Facility Location Board makes its final decisions in December. A few more polls will likely be conducted
It’s still anyone’s guess who will get the licenses, but the lobbying and planning will continue. With a deciding vote still 10 months away, there’s plenty of time for each project leader to make a case.
If you get the chance, I encourage you to check out Aaron Short’s detailed look at each project.
