It’s a bold move to get a casino open in The Big Apple, and New York Governor Kathy Hochul is going all in.
According to a report in the New York Post, Gov. Hochul intends to help Mets owner Steve Cohen, a significant Democratic donor, in securing one of three coveted downstate casino licenses.
Gov. Hochul plans to propose a change in the 2025 state budget to enable city parkland to be used for gambling facilities. Previously, lawmakers have blocked such projects due to concerns about turning public land over to private companies.
State records indicate that Cohen and his wife, Alexandra, donated a combined $136,700 to the Hochul campaign in 2021. Now, according to the Post, Hochul appears to be stepping up for the Cohens.
What’s Prompting the Proposed Change?
Leading gaming operators are competing for three downstate casino licenses. If Gov. Hochul’s proposal is approved, Cohen's chances of securing a license would significantly increase.
Earlier this year, Cohen's plan to develop an $8 billion "Metropolitan Park" casino-entertainment complex with Hard Rock near Citi Field in Queens seemed to have stalled. To move forward, Cohen has to have legislative approval for commercial development of his project. That’s where Hochul’s proposal comes in.
His plan is part of an ongoing effort to improve the concrete areas around Citi Field and Willets Point; there's a design that also includes building a professional soccer stadium and housing.
What Were Bidders Originally Told?
Originally, bidders were told to select realistic sites that comply with New York’s zoning and land-use laws.
In June, Assembly Member J. Gary Pretlow, who chairs the Committee on Racing and Wagering, addressed attendees at a "Who’s Who in Casinos and Sports Betting" event. He stated, “It's not our responsibility to ensure a potential bidder has suitable land for a casino. Land use laws have existed since the early 1900s. Anyone interested in building a casino should be aware of these laws and choose a location accordingly, rather than selecting a site that's difficult to zone and expecting us to change the law to make it eligible for a casino.”
But now, if Cohen can get approval to use the land he needs, it will revive his project. And, according to the Post's report, he may not be the only beneficiary of the parkland repurposing. Both the Bally's casino proposal at Ferry Point in the Bronx and the $12 billion Related-Wynn project at Hudson Yards have encountered strong opposition from local politicians.
When Can You Expect to Hear About Hochul’s Proposal?
A source told the Post that Hochul will address all land-use concerns for casino bids within her budget, which is expected to be unveiled during her State of the State address in January.
Many are guessing that two of the licenses will be awarded to operators in Queens and Yonkers, where existing racinos can be easily expanded, while some hope the third license will be granted to an operator in Manhattan.
Nonetheless, this will be a long process. Earlier this year, the Gaming Commission updated the due date for applications to June of next year, with decisions to be made in December 2025. The licenses are expected to be awarded by the end of next year.
