Bally’s plans for a Bronx casino move forward, while Coney Island’s gambling proposal is officially abandoned.
|

Bally’s plans for a Bronx casino move forward, while Coney Island’s gambling proposal is officially abandoned.

The proposal to establish a casino in the Bronx has made significant progress following a decisive vote that occurred on Monday. The Bally’s Bronx proposal, which would mark the first full-scale casino in New York City, secured a favorable outcome in a committee meeting attended by local city and state representatives. This development came amidst the elimination of a competing bid for a casino in Coney Island, effectively narrowing the competitive landscape for the coveted gaming licenses.

Bally’s proposal garnered a 5-1 vote from the committee, enabling it to advance to the final consideration phase. This milestone is notable as it positions Bally’s Bronx as one of three applicants, following an initial pool of eight contenders—a development that underscores the project’s renewed viability after it faced significant opposition from the City Council earlier this year.

The Bally’s Bronx project aims to construct a substantial 500,000-square-foot gaming complex and hotel along the city-owned golf course in Ferry Point Park, an area managed by Bally’s since it acquired the lease from the Trump Organization in 2023. Should the proposal successfully navigate the licensing process, the Trump Organization stands to earn approximately 5 million from the site’s conversion into a casino.

In the final round of assessment by New York State regulators, Bally’s Bronx will compete directly with two existing racinos: Resorts World in Queens and Empire City in Yonkers. Additionally, the Metropolitan Park proposal, backed by Mets owner Steve Cohen, awaits a committee vote scheduled for Tuesday morning. Analysts anticipate that this proposal will also progress, intensifying the competition for the limited number of gaming licenses available.

The state’s Gaming Facility Location Board is expected to announce its decision regarding up to three commercial casino licenses by December 1. Given their established operations, the existing racinos may have an advantage, raising the stakes for Bally’s and Cohen’s proposals as both vie for the third license.

In contrast, the attempted casino development at Coney Island, backed by Saratoga Casino Holdings, the Chickasaw Nation, and Thor Equities, faced rejection in a 4-2 committee vote, following widespread community opposition that has been documented over the past months. This outcome adds to the multiple failed attempts at securing casino licenses in Manhattan, all of which did not pass their respective advisory committee reviews.

While supporters of the Bally’s Bronx project express optimism about its potential economic benefits for the area, local dissent remains palpable. Some community leaders and activists continue to voice concerns regarding the implications of increased crime, strain on infrastructure, and environmental issues that they believe the casino construction could exacerbate.

The Gaming Facility Location Board’s ultimate decision, poised for year-end release, will significantly shape the future of gaming in New York City as the conversation around economic development and community impact becomes increasingly essential.

Similar Posts