NYC City Council passes zoning legislation for casino legalization
The competition for New York State's downstate casino licenses is heating up, with nine bids vying for the Big Apple's approval. Among these, one is set aside for New York City, attracting leading gaming operators and developers.
Recently, the New York City Council approved a text amendment, setting the stage for the potential development of a casino in the city. This change allows local officials to consider applicants' proposals within the casino licensing process.
Zoning Changes and Community Involvement
Previously, casinos were barred from New York City's zoning, but this text amendment, known as the Gaming Facility Text Amendment, aims to rectify this issue while giving local communities a say in whether a casino is established in their district. Interested parties must secure the approval of the local Community Advisory Committees (CACs) before submitting their bids, which are due by June 30, 2025.
The Battle for New York City's Casino License
Operators must navigate through the approval process involving the CACs, the Gaming Facility Location Board recommendation, and the eventual award of one of the three casino licenses by the New York State Gaming Commission.
Controversy Surrounding Casino Development
Despite the progress in approving the zoning text change, there was opposition. While a majority of 35 council members supported the change, 15 voted against it. Councilmember Kalman Yeger, among the opposition, expressed concerns about the potential impact on residential neighborhoods and the proximity of casinos to schools and family life. He argued that the revenue generated wouldn't justify the potential destruction of neighborhoods.
Other Communities in the Running
Alongside New York City, other communities in New York State are also vying for casino licenses. Potential locations in Nassau County, South Ozone Park (Queers), and Yonkers could see developments as well. Keep an eye out for major players like Resorts World NYC and MGM Empire City as they look to expand their current operations.
As the timeline ticks closer to June 2025, when submissions are due, the race for New York's casino licenses is far from over. Stay tuned for more updates as the competitive landscape evolves!
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Multi-Community Casino Race
Multiple communities across downstate New York are gearing up for the chance to host new casino developments. These casinos can offer a variety of gaming options, including slots, table games, and sports betting, with three licenses available in total.
Communities Considered for Development
- Nassau County: Apart from Las Vegas Sands withdrawing its bid for a casino at the Nassau Coliseum, the site remains in consideration, with the bid potentially transferred to a third party.
- South Ozone Park (Queens): Resorts World NYC is planning a $5 billion expansion of its casino at the Aqueduct Racetrack site.
- Yonkers: MGM Empire City, with the support of Yonkers Mayor Mike Spano, aims to expand its existing racino into a full-scale casino.
Updated Regulations and Timeline
- Gaming Facility Text Amendment: No updates have been announced regarding changes to the Gaming Facility Text Amendment as of yet.
- Timeline: Project proposals must be submitted by June 27, 2025. CACs should advance proposals by September 30, 2025. The Gaming Facility Location Board will then recommend applicants, and the Gaming Commission must award licenses by the end of 2025.
Key Candidates
- Resorts World NYC: Expansion at Aqueduct Racetrack.
- MGM Empire City: Expansion in Yonkers.
- Possible New Bidder at Nassau Coliseum: Following Las Vegas Sands' withdrawal.
The awarding of the licenses will take into account factors such as community support, economic impact, and relevance in the digital gaming market.
In the race for New York State's downstate casino licenses, nine bids are competing for approval, including one reserved for New York City, attracting leading gaming operators and developers. The New York City Council has approved a text amendment, known as the Gaming Facility Text Amendment, allowing the potential development of a casino in the city while giving local communities a say in the matter. Interested parties must secure the approval of Community Advisory Committees (CACs) before submitting their bids, which are due by June 30, 2025.
The competition isn't confined to New York City, as other communities such as Nassau County, South Ozone Park (Queens), and Yonkers are also vying for casino licenses. Contenders like Resorts World NYC and MGM Empire City are looking to expand their current operations.
The Gaming Facility Location Board will recommend applicants, and the New York State Gaming Commission will award one of the three licenses based on factors like community support, economic impact, and relevance in the digital gaming market. As the timeline approaches June 2025, the race for New York's casino licenses remains intense, with updates expected as the competitive landscape evolves.
Additionally, within the industry, there's ongoing debate about the approved zoning changes and the potential impact on residential neighborhoods and schools. This political issue raises concerns about investing in real-estate and the casino-and-gambling industry's role within the general news landscape.
As multiple communities across downstate New York gear up for casino developments, the focus remains on key candidates like Resorts World NYC, MGM Empire City, and potential new bidders at Nassau Coliseum, who plan expansions to offer a range of gaming options, including slots, table games, and sports betting.
