Back from the dead, Bally’s Bronx makes its New York casino pitch
Summary
Bally’s Corp presented its proposed $4 billion integrated resort at Ferry Point in the Bronx to the local community advisory committee (CAC), pushing a bid that many see as a long shot. The project — backed twice by Mayor Eric Adams through controversial interventions — would turn a Trump‑purchased golf course into a mega‑resort Bally’s says could generate over $1bn in gross gaming revenue annually.
The submission highlights large economic promises (about 15,000 construction jobs and 4,000 permanent roles, average full‑time compensation projected at $96,000), local equity opportunities (9% public shares for residents, available from about $250–$500) and community outreach efforts including Bally’s Foundation purchases such as the Preston High School building. Opponents and CAC appointees pressed the company on claimed local support, traffic and financing given Bally’s high leverage and real‑estate leasing model.
Content summary
Bally’s showcased an architecturally distinctive, low‑height resort design inspired by the site’s golf course, aiming to minimise skyline disruption. The Ferry Point site was a former landfill turned public golf course; the sale from the Trump Organization includes a $115m additional payment if a licence is awarded, which has drawn criticism.
Chairman Soo Kim framed the bid as intentional and transformative for the Bronx — the company hopes the resort becomes a borough landmark alongside Yankee Stadium and the Bronx Zoo. Senior executives emphasised workforce development, diversity initiatives and community partnerships, while critics on the CAC, appointed by elected opponents, challenged petition claims and local impact assertions.
Context and relevance
This pitch sits within a competitive race for up to three downstate New York licences. Bally’s bid is notable because of high political intervention from Mayor Adams, the project’s scale and its links to the Trump Organization. If selected, the resort would be the Bronx’s largest private investment and place Bally’s among the highest‑grossing operators nationally, comparable to MGM National Harbor and Resorts World NYC.
Regulators will weigh economic benefits against community concerns, traffic, environmental legacy of the site and the company’s capacity to fund a $4bn project given its leverage. The CAC hearings also expose how political appointments shape scrutiny, with appointees of opponents posing tough, public lines of questioning.
Key Points
- • Bally’s presented a $4bn integrated resort plan for Ferry Point in the Bronx, aiming for >$1bn annual gross gaming revenue.
- • The site was bought from the Trump Organization and includes a $115m contingent payment if licensed.
- • Company projects ~15,000 construction jobs and ~4,000 permanent jobs, average full‑time pay estimated at $96,000.
- • Bally’s proposes a 9% public equity programme for local residents, with small‑ticket entry points (~$250–$500).
- • The design is stepped and low‑height to preserve the skyline and mirror the golf course form.
- • Political manoeuvres by Mayor Eric Adams (rezoning threshold change and veto) have kept the bid alive and fuel controversy.
- • CAC questioning focused on claimed community support, traffic impacts and Bally’s financial capacity given its leverage and leasing model.
Why should I read this?
Because it’s the drama of the New York casino race boiled down: a mega‑resort that could remake the Bronx, political back‑and‑forth that kept it alive, promises of jobs and local shares — and a fair bit of scepticism about who actually benefits. We skimmed the hearings, pulled the money and politics bits together, and saved you the meeting room tension.