NYC developers put forward locations for casinos

NYC mayor Eric Adams has said he wants at least two of the licences given to the city.
NYC mayor Eric Adams has said he wants at least two of the licences given to the city.

Sands, Hard Rock, and Wynn are some of the operators eyeing casino projects for Hudson Yards, Times Square, Willets Point, and Coney Island.

US.- After New York governor Kathy Hochul and state legislative leaders reached an agreement to speed up the licences for three new casinos as part of the state’s budget for 2023, developers and gaming operators are seeking spots in New York City.

NYC mayor Eric Adams has said he wants at least two of the licences given to the city. According to The Post, operators are looking at Times Square, Hudson Yards, Willets Point near the Mets Citi Field ballpark in Queens and Brooklyn’s Coney Island.

Industry and government sources consulted by The New York Post said real-estate giants Related Companies in Hudson Yards and Vornado and SL Green in Times Square are interested in forming partnerships with Hard Rock, Sands and Wynn.

Representatives for developers and casinos have avised Adams, Hochul and state officials of preliminary plans, while officials from Related Companies have met with City Hall to discuss a proposal to build a casino over rail tracks on the far West Side.

A representative for Related Companies, the major developer of the West Side’s Hudson Yards, confirmed interest in building a casino in Manhattan. Meanwhile, Thor Equities has discussed erecting a casino in Coney Island and Hard Rock has reportedly discussed a potential partnership with the Mets’ Cohen for a Willets Point casino. Sands CEO Rob Goldstein has reportedly met with City Hall chief of staff Frank Carone.

For plans to advance, operators would need to win community support and approval from two-thirds of a six-member community advisory board for the area where a casino is proposed. Operators would have to pay the state a minimum of $500m for each licence.

New York currently has four casino operators in upstate provinces. Resorts World Queens at Aqueduct Racetrack and Empire City Casino at Yonkers Raceway in Westchester County already operate slot machine parlours at New York racetracks and may be able to get licences for casinos downstate.

The process of awarding licenses for the downstate casinos was initially set to launch next year. However, senator Joe Addabbo, chairman of the Senate Racing, Gaming and Wagering committee, has indicated he would like the licensing process to be finalised by the end of the year. The New York State Gaming Commission (NYSGC) is set to issue a Request for Applications from interested bidders.

See also: New York passes legislation to establish Problem Gambling Advisory Council

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