New York greenlights three remaining casino applications

Summary

New York’s Gaming Facility Location Board has approved the final three candidates for casino licences, bringing a process that began in 2012 close to its conclusion. The approved projects — two in Queens and one in the Bronx — are Resorts World New York (Genting Group expansion at Aqueduct), Metropolitan Park (Steve Cohen with Hard Rock, adjacent to Citi Field) and Bally’s Bronx (on the former Trump Links course). Collectively the developments are forecast to generate about $1bn a year in gaming tax by 2036, $7bn in incremental tax revenue from 2027–2036 and $1.5bn in licensing fees.

Key project details: Genting’s $5.5bn Resorts World expansion will include 6,000 slot machines and 800 table games and proposes unusually high tax rates on play; Metropolitan Park is an $8bn mixed-use casino, hotel and events scheme slated for 2030; Bally’s has committed $4bn for a Bronx resort with c.3,500 slots, 250 tables and a workforce of over 3,500.

Author style

Punchy — this is a big regulatory milestone for US igaming and bricks-and-mortar expansion. If you care about market structure, tax regimes or major development pipelines in New York, the detail matters. If not, the headline sums it up: three licences approved, big money, big projects, next step: the State Gaming Commission.

Key Points

The Gaming Facility Location Board approved Resorts World New York (Genting), Metropolitan Park (Steve Cohen & Hard Rock) and Bally’s Bronx.
Projected fiscal impact: ~$1bn pa in gaming tax by 2036, $7bn incremental tax revenue (2027–2036) and $1.5bn in licensing fees.
Genting proposes a $5.5bn expansion with 6,000 slots and 800 table games and unusually high proposed tax rates (56% on slots, 30% on tables).
Metropolitan Park is an $8bn mixed-use project planned to open around June 2030; Bally’s Bronx is a $4bn project expected mid-2030 and will create thousands of jobs.
Notable losers: Caesars/Jay-Z Times Square project was rejected by the community committee; MGM withdrew before final bids. Genting Bhd’s proposed acquisition of Genting Malaysia remains unresolved and could affect financing plans.

Why should I read this?

Quick and dirty: if you follow US gaming, property development or local tax income, this is a turning point. These approvals unlock massive construction, jobs and new market dynamics in New York — plus they set tax and licence precedents you’ll want to know about. We read the long report so you don’t have to — here’s the essentials.

Context and Relevance

This decision finishes a decade-plus application process and signals New York’s intent to expand large-scale casino resorts that will compete for local, domestic and international visitors. The board emphasised population catchment within a two-hour drive as a key rationale. The projects will shape regional tourism, municipal revenues and the competitive landscape for existing venues. Regulatory next steps: the New York State Gaming Commission will conduct licensing reviews and is expected to issue final licences (up to 30 years) by 31 December; standard terms include a $500m licensing fee and minimum tax floors (25% on slots, 10% on table games).