In 2022, New York legislators approved a budget which established new siting processes and criteria for awarding three commercial casino licenses to operators willing to submit a proposal to the New York Gaming Facility Location Board.
The budget featured significant new requirements to obtain a commercial license, such as securing approval from a Community Advisory Committee as well as completing all zoning and land-use prerequisites prior to evaluation by the Gaming Facility Location Board. Each license would also come with a fee of $500m, and a requirement to invest an additional $500m in the surrounding community of each operator's respective proposal.
Who applied for a New York casino license?
By the start of 2025, the Board received applications from nearly a dozen operators looking to either develop a new property within the Empire State, or expand upon operations currently in place. The list of potential licensees included operators such as MGM Resorts International, Wynn Resorts, Caesars Entertainment, Hard Rock International, Mohegan, Bally's Corporation and Resorts World.
Throughout the second half of 2025, the competition would narrow as each proposal was campaigned for in front of Advisory Committees, local organizations and community members. Wynn Resorts and MGM eventually pulled out of the race - resulting in a $256m fee for MGM - while Caesars and Mohegan failed to see its respective proposals pass through the Advisory Committee voting phase.
The drop-outs left just three bids vying for an equal number of commercial casino licenses, as Hard Rock, Resorts World and Bally's were officially recommended for approval by the Gaming Facility Location Board on December 1.
"After a comprehensive review, the Board determined that awarding three licenses would best serve the State's long-term economic, fiscal and community objectives. The downstate gaming market is among the nation's strongest, given the area's dense population, high income levels and tourism volume," the Board said at the time of announcement.
"The large local population base residing within a two-hour drive of the proposed casino sites is expected to anchor long term visitation, supplemented by domestic and international tourism. Each proposal is positioned to compete for premium gaming customers through brand strength, amenities and facility design."
Does all of New York approve?
The approvals were not necessarily met with vast contentment, however, as those in attendance of the public meeting immediately began chanting "Shame on you! Shame on you!" at members of the Board for nearly a minute straight. While the new casino properties will hope to provide substantial economic impacts for the surrounding communities, each proposal received pushback from local organizations concerned about factors such as traffic and public safety in densely populated areas.
Issues brought forth by local organizations had been enough to derail bids placed by Caesars and Mohegan, garnering criticism from defeated bidder Mohegan CEO Ray Pineault. He stated the process "failed to account for broader economic and social benefits." The local panels which struck down respective proposals from Caesars and Wynn Resorts (prior to Wynn officially pulling out of the race) cited "significant opposition" among residents and community leaders.
Hard Rock, Bally's, Resorts World enter Empire State
In any case, Hard Rock, Bally's and Resorts World have now been declared winners of New York's commercial casino sweepstakes, with preparations for each proposal expected to commence by 2026. Resorts World New York City (NYC), operated by the Genting Group, plans to have "hundreds" of table games available by March of next year, pending final approval from the New York State Gaming Commission (NYSGC).
The bid from Hard Rock was formed in partnership with New York Mets Owner Steve Cohen and will be located in Queens, similar to Resorts World NYC, near the MLB franchise's Citi Field ballpark. Bally's will open a new property in the Bronx, with each looking to take advantage of a market the Gaming Facility Location Board estimated will generate $5.5bn in gross gaming revenue by 2033.
Given Resorts World NYC will not come to fruition until March 2026 at the earliest, and both Bally's and Hard Rock project opening dates closer to the mid-2030's, it remains to be seen what type of effect the three developments will have on fellow gaming markets such as Atlantic City, Las Vegas and Connecticut.
Bally's SVP of Corporate Development Chris Jewett spoke on the topic as part of an exclusive interview with Global Gaming Insider, having said, "Vegas is always going to be Vegas. I don't think anything will ever be comparable to Las Vegas. Even when you talk about Macau, it's just different, Vegas is the gaming capital of the world.
"New York's a great opportunity, though. It's a different type of destination just from an experience standpoint and what the offering is. I think it would be transformational for the company, just in terms of the size and scale of the opportunity itself. We're extremely excited about that."
How will New York impact the future of US gaming's landscape?
It should be quite telling that a prominent Connecticut operator in Mohegan showcased great determination to enter the New York market as well, while Bally's and Hard Rock both extended upon its Atlantic City operations with the new projects. Each of the future New York operators also possess Las Vegas businesses, although Hard Rock's will not complete development until 2027.
From a journalistic point of view, being able to compare the financial results between such properties in Atlantic City, New York and Las Vegas offers incredible insight as to where the future of the gaming industry will head. Are Las Vegas and Atlantic City capable of relying on its historic recognition as the country's go-to source for gaming entertainment, or will the bright lights of New York begin to shine doubt on their respective futures?
In a personal sense, for someone who has been to Queens numerous times and has attended more Mets games than one can count, the idea of being able to shake off a devastating Mets victory by tossing dice at the craps table is nearly unfathomable. The surrounding area of Citi Field, despite featuring run-down car repair shops, a highway overpass somehow suitable for parking and the ever-present smell of the New York sewage system, has been in place since the Mets first opened the original Shea Stadium in 1964.
How Cohen plans to redesign the public space into a casino entertainment complex will be a personal venture followed throughout Metropolitan Park's construction, while the properties developed by Bally's and Resorts World are also set to make its mark on the Empire State. Can New York challenge the neighboring Atlantic City and Connecticut markets, or even Las Vegas to become the top destination for gaming? Well, it's officially time to place your bets.
Kalshi filed a lawsuit against the NYSGC on October 27, alleging the regulator overstepped its authority by threatening the predictions marketplace with criminal action for operating within the state
