No time to delay
Yonkers Mayor Mike Spano is calling on the New York State Gaming Commission to issue two downstate casino licenses to existing slot parlors without making them go through the official bidding process that begins next month.
Both have long been strong favorites to get approval, although the issuance of the permits won’t take place until December.
ready to immediately pay the $500m license fees
Spano said that the owners of MGM Empire City and Resorts World at Aqueduct are ready to immediately pay the $500m license fees and begin generating tax revenue the next day. He wants the state to be proactive and start taking in extra income to get ahead of potential budget cuts.
Plans in place
The MGM Empire City in Yonkers has offered electronic table games and video lottery terminals since 2006 and would expand its facility to introduce live dealer table games and slot machines. The enhanced property would generate an estimated $340m in the first decade for the city and $170m in the same period for Westchester County, in addition to creating 2,000 jobs.
project would create about 5,000 permanent jobs
The Genting-owned Resorts World has pitched a $5bn expansion plan that would see the rollout of a 350,000-square-foot gaming area, a 1,600-room hotel, and a 7,000-seat venue for concerts. This project would create about 5,000 permanent jobs.
Local support
Mayor Spano highlighted how these two expansion projects already have support in their respective communities and are “shovel ready to go.” Many other proposals to create new casinos from scratch have met major resistance from the areas in which they plan to locate.
Saks Fifth Avenue and Las Vegas Sands have also pulled out of the race
This is a major reason why Wynn Resorts revealed earlier this week that it was withdrawing from the application process for a $12bn project in Hudson Yards. Saks Fifth Avenue and Las Vegas Sands have also pulled out of the race in recent weeks.
Steve Cohen’s planned $8bn casino beside the New York Mets’ Citi Field has struggled to overcome resistance from local Senator Jessica Ramos, who blocked plans to rezone parkland for commercial usage.
A nearby senator, whose jurisdiction encompasses only a small sliver of the planned project, has now put forward a bill that would allow for the rezoning. It’s progressing well, having passed the Assembly last week.
