After years of speculation, New York is finally ready to award three (3) new casino licenses. Eight (8) proposals remain, and the stakes couldn’t be higher. Each permit requires a $500 million fee, plus billions in investment. For the winners, the prize is a permanent place in one of the world’s most lucrative gambling markets.
Reports and analyses from Bonus Finder highlight just how competitive the process has become. It is not just about who can build the biggest resort. It is about politics, community support, and the ability to deliver jobs and revenue quickly. With so many moving parts, this decision is less about buildings and more about vision.
Let’s take a closer look at the candidates:
Coney Island
Thor Equities and its partners have submitted a $3 billion plan to transform Coney Island. Their project features a 32-story tower, a 500-room hotel, a 2,400-seat theater, and a lineup of retail and dining. The developers project 4,500 construction jobs and 4,000 permanent positions. The proposal has divided opinion: some believe it could finally turn Coney into a year-round destination, while others fear it will strip away the neighborhood’s unique identity.
Bally’s Bronx
Bally’s proposes a massive resort at Ferry Point golf course, with 500,000 square feet of gaming space, a 2,000-seat event center, and parking for 5,000 vehicles. Construction would create 15,000 jobs. However, the project faces heavy criticism. Former President Donald Trump could reportedly receive $115 million if the deal proceeds, and the city council has already rejected the plan. Supporters argue it would unlock a new economic hub for the Bronx, but the politics are toxic.
Freedom Plaza
The Soloviev Group and Mohegan envision Freedom Plaza near the UN. With a $10 billion budget, the plan includes a 1,200-room hotel, retail, cultural attractions, and an underground casino topped by public parkland. The developers once proposed a Ferris wheel, but pivoted toward residential towers. Despite the creativity, neighbors remain wary. They question whether this project would serve residents or overwhelm them.
Caesars Palace Times Square
Caesars Entertainment, Roc Nation, and Live Nation propose a skyscraper development in Times Square. Their project features a 950-room hotel, 250,000 square feet of gaming space spread across eight levels, as well as restaurants and entertainment venues. It is estimated to create approximately 6,000 jobs during the construction phase. Yet, Broadway stakeholders continue to resist, fearing a cultural clash that could undermine theater attendance. Caesars has attempted to soften opposition by offering local investment opportunities, but unease lingers.
Metropolitan Park
Mets owner Steve Cohen, with Seminole Hard Rock, is behind an $8 billion plan in Willets Point. Metropolitan Park would feature a 2,300-room hotel, athletic fields, green parkland, and live entertainment venues. The developers promise 23,000 jobs. Still, State Senator Jessica Ramos has voiced strong opposition to this measure. Even with heavy lobbying, Cohen cannot sidestep local approval, leaving the project on uncertain ground.
Resorts World New York City
Genting plans to expand its Queens racino into a full-scale casino. The project includes a 2,000-room hotel, a 7,000-seat arena, and major conference facilities. Its advantage is speed: Resorts World could deliver a casino faster than any other bidder. But regulators are mindful of Genting’s past anti-money laundering violations. Community voices also question whether granting Genting another license rewards convenience over innovation.
Empire City Casino, Yonkers
MGM’s expansion of Empire City Casino envisions a 192,500 sq ft gaming floor, a 5,000-seat concert venue, and a sportsbook lounge. It would create 2,500 permanent jobs. Though practical and financially sound, the bid is less ambitious than others, which could weigh against it. Supporters, however, argue that predictability and local stability might be more valuable than riskier projects.
The Avenir
Silverstein Properties, Rush Street Gaming, and Greenwood Gaming propose The Avenir. This plan includes two towers, 1,000 hotel rooms, a 1,000-seat performance hall, and 100 affordable housing units. The project is expected to bring 4,000 construction jobs and 5,500 permanent roles. Silverstein’s reputation carries weight, though the site itself may prove a drawback. Whether the developers can frame it as community-first could determine its fate.
Community Resistance
Neighborhood groups are vocal. Broadway theater owners oppose Caesars. Queens residents question Genting’s record. The Bronx has rejected Bally’s outright. Coney Island is divided down the middle. The state insists that local advisory boards will hold meaningful influence in the decision, which makes community opposition a serious obstacle.
Political Forces at Play
Beyond architectural renderings and job projections lies heavy lobbying. Steve Cohen has courted lawmakers and civic groups. Caesars and Roc Nation have promoted local investment opportunities. Resorts World highlights its ability to deliver immediate revenue. MGM plays up its proven record. In the end, political consensus may be just as important as financial backing. Without local board approval, a license cannot be granted.
The Racino Factor
Existing racinos — MGM’s Empire City and Genting’s Resorts World — have an advantage. They can scale up quickly, allowing the state to receive tax dollars sooner. However, there is concern that awarding two licenses to existing operators would shortchange bold, new visions. Choosing between certainty and ambition is not easy, especially when billions are at stake.
Looking Ahead…
The decision will arrive by year’s end. It will decide not only which companies claim licenses, but also which communities are reshaped. Will New York embrace massive new projects, or reward existing operators with speed and certainty? Both approaches have merit, but only three can win.
Either way, the casino landscape — and New York itself — will never look quite the same again.
Featured image credit: DepositPhotos.com
