Resorts World New York City has projected that it will contribute around $2.5 billion to the Metropolitan Transportation Authority over the next four years.
The amount would...
New York to announce gaming licenses on December 1, 2025
New York’s Gaming Facility Location Board is to meet today, on December 1, 2025, to decide whether to award any of the three proposals the coveted gaming licenses.
The board may grant up to three licenses; however, it is not obligated to grant even one. 70% of the choice on who might get a license is based on the company’s economic activity and business development, and the other 30% is workforce development, local impact, and diversity planning.
The remaining three proposals come from Resorts World New York City, with a $5.5 billion expansion plan, Metropolitan Park with an $8 billion budget as a collaboration between New York Mets owner Steve Cohen and Hard Rock, and lastly, Bally’s with a $4 billion casino complex proposal.
These projects are each expected to bring in huge annual tax payments. The biggest tax revenue is expected from Resorts World, with $1.7 billion annually, Metropolitan Park will have an $850 million contribution, while Bally’s will pay around $350 million in annual taxes.
The Metropolitan Transportation Authority’s budget has expressed anticipation of a $1.5 billion annual revenue from gaming taxes, as they assume all three proposals will be granted licenses, which leads one to think that the board might feel obligated to award them all.
Vicki Been, Greg Reimers, Marion Phillips III, Cindy Estrada, and Terryl Brown, who are all board members of the Gaming Facility Location Board, have visited all three locations before making their decision. At 10 am on December 1, 2025, the Board will make its decision, and the proposed companies will have to await the next steps in their casino expansion plans.
New York’s race for new commercial casino licenses has taken a turn after MGM Yonkers, a subsidiary of MGM Resorts, withdrew its application.
The exit narrows the field to...
