The three contenders for a downtown New York casino licence revamped their proposals this week following MGM’s sudden exit.
The three remaining contenders for a downstate New York casino licence, Genting Group, Bally’s Corporation and a partnership between Steve Cohen and Hard Rock International, strengthened their proposals this week.
Each is vying for a lucrative approval from the New York State Gaming Facility Location Board, and all three have updated their financial commitments, development timelines, and community investment plans.
The changes come after MGM Resorts International abruptly withdrew its bid for a full casino licence at Empire City Casino in Yonkers, NY.
Meanwhile Genting Group, which already operates Resorts World New York City in Queens, is seeking to convert its existing slots-focused venue into a full-scale casino resort.
The Malaysia-based operator said it would invest $5.5bn in development and allocate an additional $2bn toward community benefits.
The project, according to Genting, would generate the highest gross gaming revenue and state tax contributions among the applicants.
It also aims to accelerate its timeline, pledging to open by 29 June of next year, a month earlier than previously proposed.
Bally’s, meanwhile, has positioned its Bronx proposal as an economic catalyst for the borough.
The company’s $4bn plan envisions a resort complex near its existing golf course, featuring gaming, hospitality, retail, and entertainment facilities.
It said the project would transform an “underutilised corner of the Bronx” into a long-term economic driver and destination for visitors from across the Northeast.
Bidding war not over
Bally’s emphasised that its resort would serve as a “place-maker,” encouraging tourism and broader urban renewal rather than focusing solely on gambling.
However, questions around political influences potentially impacting the proposal and bidding process have emerged following MGM’s exit.
Elsewhere, Hard Rock International and New York Mets owner Steve Cohen are pursuing an $8.1bn development adjacent to Citi Field, dubbed Hard Rock Metropolitan Park.
The partners claim their proposal would deliver the largest overall economic impact, citing its ability to generate significant tax revenue, create thousands of jobs, and deliver rapid public infrastructure improvements.
They argue that the site’s proximity to Citi Field, the Billie Jean King National Tennis Center, and the planned New York City Football Club stadium offers a strategic advantage for sustained tourism and entertainment synergy.
MGM Resorts’ exit shows the capricious nature of the bidding process.
The company cited changing market conditions and shifting economic assumptions as reasons for abandoning its proposed $2.3bn upgrade of Empire City Casino.
It also partially blamed Gov. Kathy Hochul, who had halved the proposed 30-year licence terms to just 15.
State regulators continue to evaluate proposals as part of a process that may grant up to three downstate casino licences.