If you were betting at top-rated sportsbooks that New York would start issuing downstate casino licenses sooner than later, you might want to hedge.
Land Use Hurdles
The State Gaming Commission announced that it will likely delay accepting applications for the competitive casino bid until the City Council approves a necessary land use change for casino construction in the five boroughs.
Per the commission’s new proposed timeline, it’s possible that licenses for new full-scale casinos in the downstate region may not be issued until late 2025.
Referring to the Commision’s new timetable, which it laid out during a public meeting, Queens Borough President Donovan Richards told the New York Post, “It’s absurd that it’s going to take 3 years to put shovels in the ground.”
New York Gaming Commission Calls for a Thorough Process
Gaming Commission Executive Director Robert Williams said the schedule is actually moving faster than expected because Governor Kathy Hochul and the state legislature haven’t counted on casino revenues to support the MTA until 2026.
Williams mentioned that the City Council still needs to approve a zoning change to make it simpler for casinos to find locations in the five boroughs.
The proposed casinos — The Related Companies/Wynn proposal for Hudson Yards, Mets owner Steve Cohen’s bid near Citi Field, the Thor Equities consortium in Coney Island and Bally’s at Ferry Point in The Bronx — would need approval through the city’s long Uniform Land Use Review Procedure first, according to the commission.
The Land-Use Approval Process Is Long
Williams indicated that the [land use] process is expected to continue until the second quarter of 2025. He says bidders are required to undergo an additional environmental review under the State Environmental Quality Review Act. A bidder who wins must also pay a $500 million fee upfront to operate a casino.
Commission Chairman Brian O’Dwyer told Spectrum News, “It’s important the Gaming Facility Location Board gets the maximum number of applicants. It’s been so long now. If we’re talking about another five or six months and potentially disqualifying reasonable, serious applicants, I think it’s worth taking that time to do it.”
The Gaming Facility Location Board will ultimately award the licenses.
What Happens Next for Downstate Casino Plan in New York?
Remember that the timeline is a proposal and is subject to change.
In a statement released to Spectrum News, officials from the commission said an updated timeline is expected to be finalized soon, and it will consider all relevant factors.
“The (Gaming Facility Location) Board is cognizant of the many factors relating to the zoning requirement, including New York City’s proposed text amendment relating to gaming facilities and of the many zoning-related questions posed by applicants during the first two rounds of questions.”
So, it appears casino lovers may have to wait just a little while longer before they see the first location built downstate. Bookmakers Review will continue to follow the developments and bring you updates when they’re warranted.
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