NYC official will ‘bet’ both Queens casinos get the OK day before make-or-break vote
Queens Borough President Optimistic About Casino Licenses in the World’s Borough
Queens Borough President Donovan Richards expressed confidence that both planned casinos in Queens will secure licenses during a crucial vote on Monday. The New York Gaming Facility Location board is set to decide on issuing up to three downstate casino licenses, with two bidders proposing locations in Queens.
Richards emphasized Queens’ potential as a global entertainment hub, urging visitors to choose Queens over Manhattan for their entertainment needs. He highlighted the bids from New York Mets owner Steve Cohen’s group for a gaming complex near Citi Field and Genting’s Resorts World for a casino at Aqueduct race track.
The proposed $8 billion Cohen-Hard Rock Metropolitan Park casino complex near prominent sports venues is expected to boost tourism and spur economic growth. Resorts World, with its existing slots parlor, plans to offer live table games shortly and enhance the complex with community benefits worth $7.5 billion.
Both bidders intend to include concert halls for additional entertainment options. The strategic locations of the casinos near airports and strong community support for Bally’s $4 billion bid at Ferry Point indicate a promising future for the gaming industry in Queens.
The evaluation process by the Gaming Facility Location Board considers economic impact, location site impact, workforce enhancement, and diversity framework. Each casino applicant must pay a $500 million license fee and commit to significant capital investments in their projects.
While the pool of bidders has reduced to three, the potential for multiple licenses remains uncertain. However, the immediate financial benefits for the state from the licenses are expected to drive the decision-making process.
The final approval of casino licenses by the state Gaming Commission is anticipated by the end of the year, marking a significant milestone in the development of the gaming industry in Queens.
