The CEO of Sands Casino criticized New York gaming regulators for their slow and confusing review process, delaying the decision on new casino licenses in the New York City area until late 2025. A $4 billion casino complex has been proposed at the Nassau Coliseum site in Uniondale, but the extended timeline for licensing is causing frustration among industry insiders and bidders. Despite the criticism, Sands remains hopeful that the situation will improve in New York, but the delay means that a gaming facility may not open until 2026.
The Nassau-backed Sands bid has faced opposition and legal challenges, with protests led by Hofstra University prompting the county to rework its lease agreement with Sands. Community and political support will play a significant role in determining which bidders ultimately win the right to operate a casino in the New York City area. Approval from the state Gaming Facility Location Board is required for any casino bid, and opposition from community boards has been raised against several proposed casino projects in the city.
Various casino projects, including a $12 billion gaming facility at Hudson Yards and a consortium gaming facility on the Coney Island boardwalk, have faced objections from the community. Other proposals include bids from Mets owner Steve Cohen and Bally’s, which require state law approval to convert properties from parkland to commercial use. Additional projects seeking licenses for table games include Genting-Resorts Worlds at Aqueduct racetrack and MGM-Empire City at Yonkers Raceway, with a $500 million upfront license fee required for winning bidders.
The process for approving casino projects in New York City also involves the Uniformed Land Use Review Procedure and state environmental scrutiny under the State Environmental Quality Review Act, adding further delays to the already long process. Despite the criticisms and challenges faced by bidders, the Gaming Commission maintains that the timetable for awarding casino licenses is on track. Governor Kathy Hochul and the state legislature do not anticipate revenue from casinos to help fund the MTA until 2026, further complicating the situation for potential bidders.
The drawn-out process and lack of clarity from New York gaming regulators have left industry insiders and bidders frustrated by the extended timeline for approving new casino licenses in the New York City area. Despite ongoing challenges and delays, there is hope that the situation will improve in the future, allowing for the development of new gaming facilities in the region. Community and political support will be essential in determining which bidders ultimately win the right to operate a casino in the highly competitive New York City market.