Update on New York’s Casino Licensing Process
According to the chair of the state gaming commission, Brian O’Dwyer, the Gaming Facility Location Board has not predetermined which of the four remaining casino proposals will receive one of the three available full-scale casino licenses in New York. O’Dwyer emphasized that all applicants are starting from a level playing field.
Finalists and Evaluation
The selection process has recently narrowed down from eight to four finalists, which include MGM Empire City in Yonkers, Bally’s Bronx, Resorts World New York City, and Metropolitan Park in Queens. O’Dwyer noted that existing venues like MGM and Resorts World may have an advantage due to their established operations.
Community Impact and Revenue
O’Dwyer stated that the main consideration for the board will be which project will best serve the community and generate tax revenues for New York. He acknowledged the potential financial benefits for certain individuals, such as those connected to the Bally’s Bronx proposal, but reiterated the focus on community benefits.
Board Composition and Responsibilities
The Gaming Facility Location Board, which is responsible for awarding casino licenses, consists of five members including Vicki L. Been, a legal scholar and former deputy mayor. All members serve voluntarily, and candidate applicants must be prepared to pay a hefty license fee of $500 million.
Evaluation Criteria
Approximately 70% of the evaluation relies on economic development factors, including capital investment, revenue maximization, and job creation. Additionally, the board will consider diversity hiring practices, pledging that 10% of evaluations will focus on this aspect, despite broader federal discussions about diversity initiatives.
Anti-Money Laundering Measures
O’Dwyer emphasized the importance of safeguards to prevent money laundering at casinos, as there is a significant cash flow that could be exploited for illicit activities. He noted the need for comprehensive measures to combat this issue.
Future Considerations
Experts suggest that it’s possible both Queens-based projects could receive licenses, or that the board may choose to nominate fewer than three. The ongoing expansion of gambling in New York traces back to 2013 when voters approved a constitutional amendment permitting new casinos upstate, with a subsequent lift of a moratorium in 2023 that now allows new casinos in the downstate region.
