State Gaming Board Approves Casino Licenses for All Three NYC Sites
The State Gaming Commission has approved casino licenses for three sites in New York City, marking a major milestone in local entertainment development. This decision comes after an extensive evaluation process that began years ago and gained momentum recently.
Details of the Approved Casino Licenses
The three approved casino projects include:
- Bally’s Casino: Proposed for a former golf course in the Bronx, which was previously owned by former President Donald Trump.
- Hard Rock International: A casino complex next to Citi Field in Queens, developed in partnership with Mets owner Steve Cohen.
- Resorts World: Expanding its existing facility at Aqueduct Racetrack near JFK Airport in Queens.
Economic Impact and Job Creation
Governor Kathy Hochul emphasized the economic benefits of these developments. Collectively, they are expected to generate billions for infrastructure and education while creating tens of thousands of jobs.
- Bally’s: Expected to produce $400 million in annual tax revenue along with nearly 4,000 permanent jobs.
- Hard Rock: Projects over $1 billion in annual tax revenue and expects to create more than 6,000 permanent jobs.
- Resorts World: Aiming for 5,000 permanent jobs with similar financial projections of over $1 billion in annual tax revenue.
Background and Next Steps
The initiative to bring casinos to New York City traces back to a 2013 state constitutional amendment. This amendment permitted the establishment of up to seven casinos statewide, with three specifically allocated for the New York City region.
The overwhelming support from the State Gaming Commission underscores the commitment to hold these developments accountable. Governor Hochul stated, “The Gaming Commission was clear that they will hold these projects accountable and make sure they keep their promises.” This reflects the expectations of New Yorkers regarding the benefits these casinos will bring to their communities.
As the projects move forward, the local communities and state will closely monitor their progress and impact.
