New York City is poised for a dramatic transformation of its gambling landscape after state regulators recommended issuing licences for three glitzy new casino resorts. The move, which promises to generate billions in tax revenue, also guarantees a significant financial windfall for former US President Donald Trump.
Three Major Projects Get the Green Light
The New York Gaming Facility Location Board has put forward Hard Rock, Bally's, and Resorts World to receive the coveted downstate casino licences from the state's gaming commission. This recommendation is the final major hurdle before the venues can officially open. The board expects final licences to be issued by 31 December.
The three approved projects represent massive investments. Bally's plans a $4 billion casino and resort on a 16-acre site in the Bronx's Ferry Point, next to its golf links. The development will feature 3,500 slot machines, 250 table games, and a 500-room luxury hotel.
In Queens, the Hard Rock casino, to be named Metropolitan Park, will be built in partnership with New York Mets owner Steve Cohen. The $8.1 billion project next to Citi Field will include 5,000 slot machines, 375 live dealer tables, and an 18,000-square-foot sportsbook.
Resorts World, owned by Malaysian billionaire Lim Kok Thay, will invest $5.6 billion to expand its existing venue near JFK Airport into the city's largest gaming floor, with 6,000 slots and 800 table games.
Economic Windfall and Fierce Opposition
The state anticipates a colossal financial boost from the new ventures. New York will receive approximately $1.5 billion from the initial licensing fees alone. The board estimates annual gaming tax revenue will hit $1 billion by 2036, with a total of $7 billion expected between 2027 and 2036. Additional taxes from associated hotels, dining, and entertainment could bring in another $5.9 billion.
However, the decision was met with immediate and vocal opposition from anti-gambling advocates. At the announcement at the City University of New York’s Graduate Center, some audience members chanted 'Shame on you!'. A coalition against the Hard Rock project warned the casino would 'tear apart families, create gambling addiction, and increase crime and displacement'.
Trump's Major Payday and the Road Ahead
A notable beneficiary of the Bally's approval is former President Donald Trump. The Trump Organization sold the Bronx land for the proposed casino to Bally's for $60 million in 2023. As part of that agreement, the company is set to receive an additional $115 million once the licence is officially approved.
The licences culminate over a decade of effort by gaming firms to access the lucrative New York market. Voters approved a constitutional amendment for seven statewide casino licences back in 2013. The current timeline projects Bally's and Metropolitan Park opening in 2030, with Resorts World completing the first phase of its expansion in 2026.
