September 23, 2025

Intensifying Competition for New York City Casino Licenses

News Summary

Casino developers are vying for one of three coveted gaming licenses in New York City, promising billions in community benefits amidst ongoing controversy. With eight contenders, including major companies like Bally’s and Resorts World, proposals include significant funds for local support and job creation. As the deadline for approvals nears, concerns about conflicts of interest and the impact on underserved communities grow, while developers adjust their offers to gain local backing.

New York City casino developers are aggressively pursuing local and state officials to secure one of the coveted gaming licenses available for the New York City market, offering billions of dollars in incentives amid controversy. With up to three licenses on the line, competition among eight developers, including large gambling companies, is intensifying as they seek approval for their casino projects.

These developers have pledged significant community contributions in an effort to win the backing of local officials. For instance, projects like The Coney have promised substantial community benefit funds to shore up support for their proposals. Each developer’s offer is contingent on receiving permission to build or expand their casino operations. This includes a promise to create tens of thousands of new housing units and support for a Civil Rights museum associated with Rev. Al Sharpton, as well as funding for childcare services for Broadway workers’ children and assistance programs for those struggling with gambling addiction.

Among the key proposals, Bally’s and The Coney have offered to establish a combined $200 million “community” fund to be controlled by elected officials if their projects are approved. Each developer is promising $10 million a year for a decade, which would allow local councilmembers to direct the spending. However, this offer has already seen pushback; Councilmember Kristy Marmorato rejected the earmark for her district, prompting Bally’s to withdraw that specific proposal, although the overall $200 million commitment remains.

The competition features five projects that are still in the running for licenses, following the recent rejection of two proposals in Manhattan. The remaining contenders include Bally’s in the Bronx, Steve Cohen’s Metropolitan Park, Resorts World in Jamaica, MGM Empire City in Yonkers, and The Coney in Brooklyn. The city has set a deadline for community committees to vote on the project approvals by the end of September, placing additional pressure on developers to refine their proposals.

Developers are further adjusting their plans in response to community feedback. Bally’s has modified its offer to ensure that its community funds will be supervised by a 13-member board that includes local elected officials. Meanwhile, The Coney has also set up oversight for its fund with a board made up of local officials and community leaders. Critics raise concerns that having elected officials control community funds could lead to conflicts of interest, suggesting that this oversight may not be in the best interest of the community. Some developers, such as Mets owner Steve Cohen, are taking a different approach by proposing community funds without the involvement of elected officials in their management.

Resorts World stands out among competitors by pledging $25 million annually towards community benefits, amounting to a total of $750 million over the lifespan of its license, with oversight by an independent board. Developers are expected to incorporate community funding as part of their applications, aiming to address concerns about the impact of casino developments on underserved communities.

However, securing these licenses is no simple task, as developers must navigate multiple approval processes before any promised funding can commence. For instance, the proposal from the Soloviev Group and Mohegan’s Freedom Plaza was recently rejected despite claims of providing permanent affordable housing, illustrating the challenges faced by developers in gaining approval. The previous rejections of Manhattan bids have left local labor unions and leaders disheartened, as they had anticipated job creation and economic benefits from the potential casinos.

As the deadline for community committee votes approaches, the atmosphere remains charged with anticipation, with all eyes on the five remaining projects vying for a chance to advance in this high-stakes competition for New York City gaming licenses.

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Author: STAFF HERE NEW YORK WRITER

NEW YORK STAFF WRITER The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.

STAFF HERE NEW YORK WRITER

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