Metropolitan Park, Resorts World, and Bally’s proposals advance to final approval with projected $7 billion in tax revenue
State Board Approves All Remaining Casino Proposals
The New York Gaming Facility Location Board recommended all three remaining casino proposals for state gaming licenses on December 1, advancing Metropolitan Park and Resorts World New York City in Queens plus Bally’s Corporation in the Bronx toward final approval. The decision, announced at the CUNY Graduate Center in Midtown Manhattan, represents culmination of years of planning, pitching, and community input in a process attracting national attention as New York City prepares to become a premier gaming destination. The three projects collectively represent $17.5 billion in investment and are projected to generate nearly $7 billion in gambling tax revenue between 2027 and 2036, according to board analysis reported by THE CITY. An additional $5.9 billion in hotel, sales, and property taxes would augment those gambling revenues, plus $1.5 billion in one-time licensing fees. Board Chair Vicki Been emphasized conservative projections underlying the recommendations. “We asked our consultants to be very, very conservative,” Been stated at the announcement. “Even with that very, very conservative look, they believed that the New York market is plenty strong to give the three casino licenses.” The decision comes after eight initial proposals were reduced through community opposition and strategic withdrawals.
Metropolitan Park Transforms Citi Field Parking Lots
Mets owner Steve Cohen’s Metropolitan Park proposal, backed by Hard Rock International, would transform 50 acres of parking lots near Citi Field into a resort featuring 286,208 square feet of gaming space, entertainment venues, multiple restaurants, a convention center, hotel, and retail. The project pledges $1.75 billion in community investments including park space and income-restricted housing. According to developer projections, Metropolitan Park would generate $3.9 billion in annual revenue by its third year of operation and contribute $850 million in annual taxes. The scope represents one of the most ambitious casino resort developments proposed anywhere in the United States, positioning Queens as a gaming destination competing with established markets like Las Vegas and Atlantic City. The proposal received approvals from six Queens community boards and conditional support from Queens Borough President Donovan Richards. New York City Council Member Francisco Moya backed the project, as did Coalition for the Advancement of Queens, Queens Chamber of Commerce, Waterfront Alliance, and multiple labor organizations including Building Trades Employers’ Association and International Brotherhood of Electrical Workers Local Union No. 3. The development required parkland alienation legislation, which Cohen pursued despite initial resistance from State Senator Jessica Ramos, who eventually declined to introduce the necessary bill. Cohen released updated renderings in September 2024 and secured community board approvals in November and December.
Resorts World Expands Existing Aqueduct Facility
Genting’s Resorts World New York City proposal involves expanding the existing racino at Aqueduct Racetrack to include full casino gaming with table games. The facility already operates video lottery terminals and electronic gaming, making the transition to full casino status relatively streamlined compared to building entirely new structures. Resorts World projects completing the first phase of expansion by 2026, with second phase finishing in 2030. The accelerated timeline for initial operations means Queens could see full casino gaming within 16 months, significantly faster than the five-year construction periods facing the other approved projects. The existing facility provides infrastructure advantages including established parking, transit connections via the A train, and operational experience managing large gaming operations. The expansion builds on Genting’s track record in New York gaming markets while positioning the facility near JFK Airport, potentially attracting international travelers in addition to local and regional customers. The Aqueduct location sparked less community controversy than proposals in more residential neighborhoods, partly because gaming already exists at the site. Local elected officials and community boards generally supported the expansion, viewing it as economic development generating jobs and tax revenues without introducing entirely new land uses.
Bally’s Controversial Bronx Development
Bally’s Corporation’s proposal near Ferry Point Park in the Bronx faced more substantial opposition than the Queens projects but ultimately secured necessary approvals through political interventions. The development would create a casino and hotel on land formerly occupied by Trump Golf Links at Ferry Point, with The Trump Organization receiving $115 million under agreements made when the land was sold. New York City Council Member Kristy Marmorato, whose Bronx district includes the project site, vehemently opposed the casino plan. Her opposition reflects concerns raised by some Bronx residents about traffic, environmental impacts, and appropriateness of casino development in the area. However, City Council’s rejection of a land use application for the project was overridden by Mayor Eric Adams’s veto, clearing the way for Bally’s to proceed. The mayoral intervention lowered the threshold for approval from two-thirds majority to simple majority, demonstrating how executive power can overcome legislative opposition when political will supports development. Bally’s required parkland alienation exception from the state Legislature, which the City Council initially resisted through home rule message processes. Adams’s mayoral message facilitated the necessary approvals despite sustained local opposition, highlighting tensions between neighborhood concerns and citywide economic development priorities. The company’s spokesperson Lauren Westerfield emphasized community engagement efforts: “Our team has worked closely with community leaders, union partners, and local stakeholders to build a project that delivers real jobs, lasting economic benefits, and a world-class entertainment destination for the Bronx.” Bally’s projects $1.2 billion in annual economic output including $370 million in state and local tax revenue once operations begin.
Manhattan Proposals Eliminated Through Community Opposition
The casino race originally included proposals for Manhattan locations, including Times Square and Hudson Yards sites. However, Manhattan Community Boards consistently rejected measures allowing casino developments to bypass usual zoning processes, effectively killing those proposals. Silverstein Properties and Greenwood Gaming & Entertainment’s two-tower project in Hudson Yards, featuring an eight-story casino, 1,000-room hotel, and 1,000-seat performance hall, failed to secure Manhattan Community Board 4 approval in December 2023. State Senator Brad Hoylman-Sigal, Assembly Member Tony Simone, and Council Member Erik Bottcher all expressed opposition or hesitancy, reflecting broader Manhattan resistance to casino development. The Soloviev Group’s $10 billion proposal with Mohegan and Bjarke Ingels Group for a 6.7-acre site also faced Community Board 6 rejection in January 2024. The proposal included 1,200-room hotel, food market, democracy museum, waterfront park, and residential towers with nearly 40 percent below-market-rate apartments, but community opposition focused on concerns about gambling’s social impacts and neighborhood character changes. Nassau Coliseum and Coney Island proposals similarly failed to advance, demonstrating how community approval requirements created meaningful obstacles for developers unable to build local support. The community veto power, exercised through Community Advisory Committees requiring two-thirds votes, gave residents substantial influence over casino placements.
Economic Projections and Market Sustainability Questions
The board’s economic consultants projected the downstate gaming market could reach approximately $5.5 billion in gross gaming revenue by 2033, sufficient to sustain three robust casino operations. With roughly 20 million people in the New York City metro area plus substantial domestic and international tourism, the region represents one of the nation’s strongest gaming markets, according to board assessments. Bennett Liebman, Government Lawyer in Residence at Albany Law School, offered more skeptical perspective, describing the approved projects as creating a “Van Wyck Expressway Casino Belt” running from the Bronx-Whitestone Bridge to Kennedy Airport. His characterization suggests concerns about market cannibalization with three casinos in close proximity competing for overlapping customer bases. Anthony Lucas, professor of casino management at the University of Nevada, Las Vegas, expressed confidence that New York City’s market could support three venues, noting that other American cities have managed multiple casino operations. However, Lucas acknowledged that existing casinos in the region, particularly those relying on New York City feeder markets, would likely experience negative impacts from the new competition.
Implications for Regional Gaming Markets
The approval of three New York City casinos creates substantial challenges for Atlantic City’s nine casino properties, which have recently stabilized after pandemic disruptions. Industry analysts project the NYC casinos will attract customers who previously traveled to Atlantic City, potentially reducing revenues and profits for New Jersey’s gaming hub. New Jersey lawmakers are considering allowing casino gambling in North Jersey, possibly at Meadowlands Racetrack, as defensive measure against New York competition. The proposals highlight regional dynamics where states compete for gambling revenues, creating races to offer gaming options before neighboring jurisdictions capture market share. Pennsylvania, Delaware, Maryland, and Connecticut casinos also face potential impacts as some New York residents who currently travel to those states for gaming find options closer to home. The regional reshuffling of gaming markets represents significant economic shifts affecting multiple states’ tax revenues and employment levels.
Timeline and Final Approvals
The Gaming Facility Location Board’s recommendations now move to the New York State Gaming Commission for final review of applicants’ ethical and financial qualifications. The commission is expected to award final licenses by December 31, 2025, concluding the approval process that began when three downstate casino licenses were authorized in the 2022 State Budget. Once licenses are awarded, construction timelines vary by project. Resorts World expects to complete its first expansion phase by 2026, while Bally’s and Metropolitan Park project 2030 openings for their full facilities. The extended construction periods reflect massive scale of developments and complex infrastructure requirements including transportation improvements, utility upgrades, and site preparations. Governor Kathy Hochul praised the board’s decision, stating: “From the moment that three downstate casino licenses were authorized in the 2022 State Budget, I have been clear: any approved project must provide real benefits to its community and have sustainable economic plans.” She emphasized that approved projects promise to unlock billions in MTA funding and create tens of thousands of jobs, highlighting transportation and employment priorities underlying state support for casino development. The successful applicants now face challenges of executing on ambitious promises made during the approval process. Community benefits agreements, union labor commitments, infrastructure improvements, and revenue projections will all require careful implementation to deliver promised outcomes and maintain political support through multi-year development periods.
