Among the expected frontrunners are MGM Resorts International and Genting Group, both of which already operate racinos in Yonkers and Queens, respectively.
Their existing infrastructure — including video lottery terminals and electronic table games — gives them a significant head start in what has become a long and competitive bidding war.
Genting has pledged a $5bn expansion of its Resorts World New York City property in Queens, along with an additional $1bn in tax contributions should it secure one of the licences.
MGM files full application
MGM, meanwhile, filed its $2.3bn bid yesterday (26 June) with the New York Gaming Commission and the Gaming Facility Location Board, to transform Empire City Casino in Yonkers into a full-scale Las Vegas-style resort.
MGM’s vision for Empire City includes a revamped gaming floor with table games, a high-limit lounge, a BetMGM sportsbook offering retail sports betting, and new entertainment, dining, and meeting spaces.
Plans call for a 5,000-seat venue, three full-service restaurants, and sustainability features like solar-equipped parking and EV charging stations.
Infrastructure improvements to local roads and water systems are also included as part of the proposal.
“Empire City Casino and Yonkers Raceway have anchored the entertainment and tourism culture in downstate New York for more than a century,” said MGM Resorts president and CEO Bill Hornbuckle.
“Achieving a full casino licence will ensure this site will continue to be a cultural and economic force for generations to come.”
If awarded a licence, MGM said it plans to complete the project by mid-2029.
Since acquiring the property in 2019, MGM has generated $1.6bn for New York State education funding through Empire City — part of the more than $5bn the racino has contributed since opening in 2006.
Under the proposed revenue-sharing model, 20% of tax revenues from MGM’s upgraded facility would stay local: 10% to Yonkers, 5% to Westchester County, and 5% shared by Rockland and Putnam counties.
A long process
The other six remaining bidders are Thor Equities, Bally’s, the Soloviev Group, Caesars Entertainment, Seminole Hard Rock, and Silverstein Properties.
Proposed sites span multiple boroughs and surrounding areas — including Queens, Brooklyn, the Bronx, Manhattan, and Yonkers — each with unique political and zoning hurdles.
Three initial entrants have already dropped out: Saks Fifth Avenue was the first to shelve its Manhattan flagship casino concept in April, followed by Las Vegas Sands, which also abandoned its $5bn Nassau Coliseum bid, citing uncertainty over the impact of proposed iGaming legislation.
Wynn Resorts withdrew in May after facing rezoning issues and opposition to its Hudson Yards plans.
The downstate casino push began in early 2023, stemming from Governor Kathy Hochul’s 2022 budget initiative aimed at fast-tracking casino development following a 2013 constitutional amendment that legalised commercial casinos across the state.
What happens next
Immediately following the deadline, Community Advisory Committees (CACs) will be formed to begin their statutory review process.
Applicants must complete all necessary entitlement procedures — including land-use and zoning approvals, as well as compliance with the State Environmental Quality Review Act (SEQRA) — by 30 September.
By this same date, each CAC is required to vote on the projects within their jurisdiction.
Applicants receiving CAC approval will then submit supplemental materials, including a proposed tax rate, for further evaluation by the authorities.
The New York State Gaming Commission and Gaming Facility Location Board are expected to announce the winners by 1 December, with formal licence awards due by 31 December.
Dingnews.com 30/06/2025