Legislation aimed at expediting the bidding process for three New York City-area casino licenses faces a grim near-term future. The bill’s goal was to allow proposals to be submitted by the end of August, but with less than three weeks remaining, this seems increasingly unlikely.
Further dimming the prospects for the legislation is the fact that Gov. Kathy Hochul has not publicly supported the bill. In May, Sen. Joseph Addabbo and Assemblyman Gary Pretlow introduced bills in their respective chambers to enable gaming companies to submit proposals for the downstate permits by late July. That deadline was extended to August 31, but if approved, it would have set mid-2025 as a probable time for deciding the winning bidders.
Although Hochul has not explicitly stated she will not sign the bill, industry experts and political analysts believe the legislation faces an uphill battle. Even if the Addabbo/Pretlow legislation were to be approved immediately, there would still be insufficient time for gaming operators to prepare proposals for what are expected to be some of the most expensive casino hotels in U.S. history.
Assemblyman Gary Pretlow admitted to Newsday that it currently seems unlikely Hochul will act on the bill by the end of the month. Michael Hershman, CEO of the Soloviev Group, echoed this sentiment, telling Newsday that the expedited licensing bill has become a “moot point.” The Soloviev Group is collaborating with Tribal casino giant Mohegan on a proposed gaming venue near the United Nations building on Manhattan’s East Side.
For potential bidders, an early opening of the bidding window would be welcomed, as the New York Gaming Facility Location Board is currently eying June 27, 2025, as the date for applications to be submitted. Following that, “Community Advisory Committees (CACs) will form immediately thereafter and commence their statutory work,” the board states.
The Board anticipates making decisions by December 1, 2025, with Commission licensure following by December 31, 2025. This timeline would allow New York State to collect the already-planned casino license fees ahead of schedule. Assuming these dates are adhered to, construction on new gaming venues couldn’t commence until 2026, meaning they would be several years away from becoming operational.
By failing to swiftly expedite the licensing process, New York is potentially delaying the receipt of millions of dollars in application fees, not to mention $500 million per winning bidder — a figure some experts believe could reach as high as $1 billion per license.
Should final approval for the three downstate casino licenses arrive at the end of 2025, MGM Resorts International’s Empire City Casino in Yonkers and Genting’s Resorts World New York in Queens might gain an advantage over a third competitor, assuming those venues secure two of the permits. These properties are already operational as slots-only venues, ranking among the highest-grossing regional casinos in the country. If awarded traditional casino licenses, both operators have promised substantial enhancements, potentially adding table games and other amenities with minimal disruption to daily operations.
