3 NYC-area casinos get final approval

NEW YORK CITY — A trio of casinos, each with significant hotel components, is now a done deal in New York City.

The New York State Gaming Commission has formally approved three high-profile casino projects in the New York City area, which was the last hurdle to bring Las Vegas-style casinos to the city.

The projects include Steve Cohen, owner of the New York Mets, and Orlando, Florida-based Hard Rock International’s $8.1 billion project to bring a gaming complex near Citi Field (where the Mets play) in Queens, the Genting-Resorts World casino at Aqueduct Racetrack in Queens and Bally’s plan to open a casino on President Trump’s former golf course in the Bronx.

“The three approved casinos will generate billions of dollars for the [Metro Transportation Authority] and education, create tens of thousands of jobs and deliver real benefits to their surrounding communities,” New York Governor Kathy Hochul said in a news release. “Each of the projects made significant commitments to their communities and to New York State, and the Gaming Commission was clear that they will hold these projects accountable and make sure they keep their promises.”

The approvals followed a decades-long process to bring casinos to the area and would represent the first full-scale gambling establishments in New York City’s modern history.

Bally’s $4 billion project would build a casino-resort next to Bally’s Golf Links in Ferry Point, New York (Credit: Bally's)

The Genting-Resorts World project could offer live table games as early as March (since the company already operates slots at the Aqueduct projects and has an operational gaming facility).

These proposals included other high-profile bids, one by rapper Jay-Z, most of which fell through.

State officials project that gaming revenue from these casinos could reach $5.5 billion by 2033, generating $7 billion in tax revenue between 2027 and 2036. New York also expects to collect $1.5 billion in licensing fees and an additional $5.9 billion from other project-related taxes.

Hotels components

Metropolitan Park: The $8.1 billion development plans to transform a parking lot next to Citi Field in Queens into a casino, 1,000-key hotel, convention center and entertainment venue and three million sq. ft. of potential development space. The project will span 78 acres and connect Flushing Meadows Corona Park, home of the Billie Jean King National Tennis Centre, to Citi Field and Bay. The casino could hold 5,000 slot machines, 375 live dealer tables, 30 poker tables and an 18,000 sq. ft. sportsbook.

Bally’s Bronx: Bally’s $4 billion project would build a casino and resort spanning 16 acres next to Bally’s Golf Links in Ferry Point, New York. Bally’s is proposing a 250-foot-tall casino with three million sq. ft. that could hold 3,500 slots and other gambling machines, 250 table games, and a poker room. The proposal also includes a 500-room luxury hotel, dining and entertainment venues, a 2,000-person event center and meeting spaces. Bally’s Bronx is projected to generate over $1 billion in gambling revenue and more than $200 million in state taxes annually. President Trump is also an ancillary winner in this deal. The development site is located next to a golf course he previously owned. As part of the deal, the Trump Organization will receive $115 million from Bally’s following the license approval.

Resorts World Casino New York City: The Genting-Resorts World project is a $5.6 billion development located at the Aqueduct racetrack in Jamaica, Queens, which has historically been one of the best-performing casinos in the U.S. The project proposal includes a 500,000 sq. ft. gaming space with 6,000 slots and 800 table games, 2,000 hotel rooms, a 7,000-seat entertainment venue, a conference center, restaurants, a spa and more. The current casino already includes the 400-key Hyatt Regency JFK Airport hotel.