New York City is getting its first 3 Las Vegas-style casinos

New York City’s first Las Vegas-style casinos will soon rise in three unexpected locations across the city’s outer boroughs, following the New York State Gaming Commission’s approval of long-awaited licenses on Monday.

The commission awarded licenses to three major projects: Hard Rock’s $8.1 billion complex adjacent to the New York Mets’ Citi Field in Queens, Bally’s $4 billion development at the Ferry Point golf course in the Bronx, and Resorts World’s $5 billion expansion of its existing slots facility at Aqueduct Race Track near JFK Airport.

During a riverside meeting in upper Manhattan, the commission unanimously approved all three projects with conditions requiring each operator to appoint an external monitor who will report regularly to ensure compliance with financial commitments and community investment promises.

“You all have an important charge ahead of you, and you can be assured that this commission takes our responsibility to keep your feet to the fire with great respect,” said Brian O’Dwyer, the commission’s chair, addressing representatives from the gaming companies.

Governor Kathy Hochul celebrated the decision, highlighting the expected economic benefits in a statement. “These projects will pump billions of dollars into the state’s transit and education systems and create tens of thousands of jobs,” she said.

The approvals mark the culmination of a highly competitive process that began after New York voters approved a 2013 referendum permitting casino gambling statewide. The state authorized up to three casino licenses for the New York City region, a potentially lucrative market due to its dense population, affluence, and tourism.

Not all stakeholders welcomed the decision. Protesters opposed to billionaire Mets owner Steve Cohen’s Hard Rock project disrupted the meeting, shouting, “You picked a billionaire over New Yorkers! Shame on you!” as they exited. Critics worry the casinos will increase gambling addiction across the city.

The Hard Rock project, the most expensive of the three, will transform a parking lot adjacent to Citi Field into a sprawling entertainment complex featuring a casino, performance venue, hotel, and retail space. Bally’s Bronx development will include a hotel, event center, meeting spaces, and restaurants at the Ferry Point golf course, which was previously operated by former President Donald Trump’s company.

Resorts World plans to expand its existing slots operation at Aqueduct Race Track into a full casino with hotel accommodations and entertainment venues. The company already operates one of nine gambling halls in the state that offer electronic games but not live table games.

Several high-profile proposals failed to make the cut. Manhattan projects, including a Caesars Palace in Times Square backed by rapper Jay-Z, were rejected by local community boards. A planned resort on Coney Island’s iconic boardwalk in Brooklyn also faced insurmountable local opposition, while MGM unexpectedly withdrew its bid despite local support.

The Gaming Facility Location Board, which vetted the proposals for the commission, determined in its earlier recommendation that the New York City region could support all three remaining projects despite their proximity to each other. The board’s consultants estimate the casinos will generate approximately $7 billion in gambling tax revenues between 2027 and 2036, plus $1.5 billion in licensing fees and nearly $6 billion in state and local taxes.

An interesting footnote to the decision involves former President Donald Trump. When Bally’s purchased the operating rights for the city-owned Ferry Point golf course from the Trump Organization in 2023, the deal included a provision for an additional $115 million payment to Trump’s company if the casino license was secured. The Trump Organization did not respond to requests for comment about this windfall.

Monday’s approval was, in some ways, expected as gambling revenues from these projects were already factored into the state budget. New York currently has four full casinos offering table games, all located upstate and far from the lucrative New York City market.