Bally’s Corporation has introduced a community benefits package exceeding $600 million in relation to its proposed casino-hotel in Throggs Neck.
Photo courtesy of Bally’s
Bally’s Announces Significant Community Investment
Bally’s Corporation is pursuing one of the three downstate casino licenses to create a large-scale hotel-casino complex at Ferry Point Park. Recently, the company revealed an “unprecedented” community benefits agreement valued at $625 million aimed at job creation and investments in the Bronx.
Details Ahead of Critical Community Meeting
Exclusive information obtained by the Bronx Times describes this agreement, which precedes the Community Board 10 meeting on March 20, where the project will be voted on for approval.
A Historic Private Investment
The proposed $4 billion development includes a 500-room hotel, a fitness center and spa, a 200,000-square-foot casino, a 2,000-seat event center, alongside shopping and dining options. Bally’s claims this complex represents the largest private investment in the Bronx to date, but their commitment extends beyond just the physical structure.
Long-term Partnership Goals
Christopher Jewett, Senior Vice President of Bally’s Corporation, stated, “Our aim is to establish a world-class entertainment destination while being a long-term partner in the Bronx’s growth, aiding local businesses, education, and workforce development.” He emphasized the project’s potential for economic and cultural prosperity in the Bronx.
Investment in Community and Infrastructure
This community investment initiative was crafted in partnership with local leaders, including State Senator Nathalia Fernandez and Assembly Member Michael Benedetto. Residents will be given the opportunity to own a stake in the project, starting at $250, with a potential community ownership interest of up to 9%.
Bally’s has committed to contributing a minimum of $10 million annually to local educational programs and community services as part of its investment.
Job Creation and Infrastructure Commitment
The casino development is expected to generate 15,000 construction jobs and 4,000 permanent positions, prioritizing hiring for Bronx residents. Additionally, Bally’s plans to invest $100 million on park improvements and $75 million to support transportation upgrades in the area.
Challenges and Community Sentiment
The project faces challenges, including land use approvals and community support. While Bally’s claims to have garnered support from over 85% of local residents, there are concerns regarding crime, traffic, and loss of green spaces as raised at a recent Community Board 10 hearing.
Officials have yet to offer direct endorsements, though they expressed cautious optimism regarding Bally’s commitments to the Bronx. Assembly Member Benedetto underlined the need for ongoing dialogue with the community, ensuring that the project aligns with local needs.
Bally’s is one of eleven contenders for the three downstate casino licenses expected to be granted by late 2025, positioning itself as the best candidate based on its community benefits package and investment pledges.
