Regulatory Body Expresses Deep Concerns over Preferred Contenders for the Upcoming New York Casino Permit
In a surprising turn of events, three firms embroiled in high-profile scandals in Las Vegas find themselves among the bidders for the three casino licenses available in downstate New York. The New York State Gaming Commission (NYSGC) has expressed concerns about the Genting Group and Wynn Resorts, potentially jeopardizing their chances of winning a casino license in the region.
The NYSGC's concerns stem from allegations against both Genting and Wynn Resorts. The Genting Group, which owns Resorts World New York City at Aqueduct Race Track in Queens, has been accused of giving out hundreds of thousands of dollars in credit to individuals with histories of illegal gambling convictions or organized crime, as alleged by the Nevada Gaming Control Board (NGCB). Wynn Resorts, on the other hand, agreed to forfeit $130 million to the feds under a "non-prosecution agreement" regarding a decade-long case relating to unlicensed global money transactions from Wynn Las Vegas.
MGM Resorts, another favorite for a downstate casino license, also has a history of Las Vegas violations that could potentially affect its bid. The NYSGC's latest concerns about MGM come almost exactly a year after unnamed sources suggested Vegas-based scandals could harm MGM's New York bid.
These allegations against the Genting Group and Wynn Resorts are considered serious by the NYSGC executive. At a recent meeting, Chairman Brian O'Dwyer voiced his misgivings, marking the first time the NYSGC has publicly expressed concern about multiple applicants for a casino license.
The NY class III gaming license, if won, would allow Genting and MGM to add live dealer games to their respective Queens and Yonkers venues, moving away from "video lottery terminals to random-number-generator slot machines."
The allegations against the Genting Group and Wynn Resorts will affect their bids for a NY class III gaming license and give renewed hope to the rest of the field. This includes Steve Cohen and Hard Rock International, who are bidding for a casino resort complex adjacent to Citi Field in Queens.
However, the race for the New York casino licenses is not just about the scandals. Former New York Governor Andrew Cuomo exerted political pressure on New York Governor Kathy Hochul to prevent the support of Steve Cohen's and Hard Rock International's bid for a casino resort project in Queens. Recent allegations suggest that Governor Hochul has changed her support for the Cohen/Hard Rock bid due to political pressure from within her own administration.
Despite the controversies, the bids from Genting, Wynn Resorts, and MGM Resorts still stand. The outcome of the bids could shape the gaming landscape in New York, making it a closely watched event in the industry.
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