The race to enter one of the world’s largest and lucrative casino markets rounded the final turn on Monday as the state’s Gaming Facility Location Board approved three plans.
Later this month, the state’s Gaming Commission will vote to award casino licenses to the Bally’s Corporation, New York Mets owner and hedge fund manager Steve Cohen who is working with Hard Rock International, and the Malaysian-based The Genting Group.
Bally’s Bronx
The Bally’s Corporation’s plans to built a 500,000-square-foot casino at Ferry Point in Throggs Neck in the Bronx include a hotel with 500 rooms, a 2,000-person event center, and parking garages.
“Our team has worked closely with community leaders, union partners, and local stakeholders to build a project that delivers real jobs, lasting economic benefits, and a world-class entertainment destination for the Bronx,” said Bally’s spokesperson Lauren Westerfield in a statement. “We are grateful for the board’s confidence and look forward to working with the Gaming Commission as the process moves to its next phase.”
It will sit on a golf course once owned by the Trump Organization. As per the purchase agreement, Bally’s will owe the Trump Organization $115 million more after final approval.
Baseball and gambling in Queens
NY Mets owner Steve Cohen partnered with Hard Rock International to build Metropolitan Park on 50-acres located right next to Citi Field, which is the home of the Mets.
Hotel, retail, living spaces and a casino with 286,208 square-feet of gaming space is promised by one of the richest men in New York City.
“After years of community engagement and support, Metropolitan Park is one step closer to becoming a reality,” said Karl Rickett, a spokesperson for Metropolitan Park. “Following a fair, transparent and rigorous process, the Gaming Facility Location Board has validated the positive economic impact this project will have with billions of dollars in tax revenue, 23,000 union jobs, and over $1 billion in community benefits.”
Resorts World NYC
The third license will be awarded to The Genting Group, which will use it to expand its video slots and table games casino Resorts World New York City.
The company says its property will grow by 5.6 million-square-feet, which will allow it to add 6,000 slot machines, 800 gaming tables, 2,000 hotel rooms, a 7,000-seat arena, and more than 30 dining outlets to its property in south Queens.
“Resorts World New York City’s journey to this historic moment represents more than 15 years of work to generate jobs, revenue, and opportunities for our neighbors,” said Robert DeSalvio, president of Genting Americas East. “Resorts World New York City’s $7.5 billion proposal is the only bid that can expand operations in just 90 days, generating billions in new revenue for mass transit and public education over the next four years.”
While Resorts World is confident the first phase of its expansion will be complete sometime in 2026, Bally’s and Metropolitan Park are looking at a 2030 opening.
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