New York Gaming Board Recommends 3 NYC Casino Sites

Casino License Recommendations

• 🎯 The New York State Gaming Board has recommended three sites for full-fledged casino licenses within New York City.
• 💡 The approved sites include a proposal by Bally's in the Bronx, Hard Rock's plan near Citi Field in Queens, and an expansion of Resorts World at the Aqueduct Racetrack in Queens.

Projected Economic Impact

• 💰 Bally's estimates its Bronx casino will generate nearly $400 million in annual tax revenue and create approximately 4,000 permanent jobs.
• 📈 The Hard Rock and Steve Cohen partnership aims for over $1 billion in annual tax revenue and more than 6,000 permanent jobs.
• 💸 Resorts World anticipates creating 5,000 permanent jobs and generating over $1 billion annually in tax revenue from its expanded facility.

Opposition and Governor's Stance

• ⚠️ Opposition exists, with critics concerned that promised economic benefits may not materialize and describing the process as a "predatory state sponsored racket."
• 💬 Governor Kathy Hochul stated that the approved projects promise to unlock billions for the MTA and create tens of thousands of jobs, emphasizing the critical need for these promises to be kept.

Next Steps

• 🗓️ The State's Gaming Commission will vote on these recommendations by the end of the month, with expectations that they will follow the board's lead.
• 🤝 Bally's has committed to paying the Trump Organization $115 million for its remaining interest in the proposed Bronx site.