Part of the lease sale
With only about two months before the deadline to submit New York City casino proposals, the Associated Press noticed a detail with one of the competitors that is, at the very least, quite interesting. Bally’s, which wants to build one of three downstate casinos in the Bronx, will have to pay President Donald Trump $115 million if it is awarded a license.
The potential windfall for Trump stems from a clause in the 2023 deal in which Bally’s acquired the lease to Trump Golf Links at Ferry Point from The Trump Organization. In addition to the $60 million price tag, Bally’s agreed to pay Trump an additional $115 million should Bally’s get one of the three New York City casino licenses.
Bally’s has its casino location
Bally’s bought Trump Golf Links at Ferry Point lease as part of its efforts to be one of the three casino operators in New York City. After the deal was done, Bally’s changed the name of the property to Bally’s Golf Links at Ferry Point and removed the huge Trump sign that everyone passing across the Whitestone Bridge could see.
Bally’s plan is to build a casino on the 180-acre property.
It’s not a perfect spot, but it’s a spot. Bally’s does not actually own the land, just the lease, which ends in 2035. The land is public, so to build the casino, lawmakers would have to vote to “alienate” it, which would remove its parkland status. Odds are this will happen, as one would assume that Bally’s did its due diligence and is confident it will get the required rezoning.
The golf course also doesn’t have good access to public transportation, but Bally’s has said it will run shuttle buses from nearby businesses and shopping centers to accommodate customers.
Good or bad for the company?
One question now is whether or not Trump’s profiting from a Bally’s casino license will influence officials in charge of making the ultimate decision. He is very unpopular in New York City, and with people’s retirement accounts now tanking as a direct result of tariffs he announced this week, he is likely even less so. It is possible that decision-makers might not want Trump to make $115 million, even though he really has nothing to do with Bally’s.
On the flip side, the Associated Press poses the possibility that the $115 million payment could be used as a “bargaining chip.” The state has butted heads with the Trump administration over immigration policy and multiple federal funding issues, so perhaps some backroom dealing could be in order. Of course, this is all just speculation.
Image credit: Pixabay
The post Donald Trump Stands to Make $115 Million if Bally’s Wins New York City Casino License appeared first on Poker News Daily.
About The Author
