In January of last year, New York formally began accepting bids for three commercial casinos located in downstate New York. There are currently four casinos operating in upstate New York thanks to a constitutional amendment that took effect in 2013. Three additional casinos will open either in close proximity to New York City or in the city itself at a later date.

Many major land-based casino operators are interested in the procedure. Some of the operators that have announced preliminary plans for new casinos include Caesars Entertainment, MGM Resorts International, Wynn Resorts, and Las Vegas Sands.

But anybody expecting a ruling this year are in for a rude awakening. Robert Williams, executive director of the Commission, reviewed the process and its expected next steps in a meeting yesterday (25 March).

No decision on the three potential locations is expected until the second half of 2025 as a result of extensive evaluations into the new properties' environmental impacts.

Potential casino licensees' impact on the environment 
In order to get a licensing, everyone involved has to meet a bunch of standards. The State and Local Environmental Quality Review Act (SEQR) is one such environmental regulation.

These reviews will most likely not wrap up in the first quarter of 2025, according to Williams. In turn, this may necessitate that interested parties revise their applications, which will then be subject to additional approval. Going ahead with the licensing procedure before the reviews are finished would be a "administrative nightmare," according to Williams. 

Due to the fact that all applicants are required to complete Uniform Land Use Review Procedures (ULURPs), further delays may occur. Similar to the SEQR, it is quite unlikely that such a procedure will be finished by the beginning of next year.

Also, as Williams pointed out, before a project can move forward, all applicants need to show that they can pay for it in full. Williams expressed concern that it would cause additional setbacks in the future if not executed properly.

"Limiting the size and scope of the proposal could be achieved by increasing the costs of accessing capital markets through the encumberment of funds well in advance of a licensing determination," he stated during the meeting.

New York application tips
The Commission has strongly encouraged applicants to use 2024 to make sure their ideas are fully compliant, because these processes can be quite lengthy. Making sure New York has enough time to study the related ULURPs and finishing the necessary environmental studies are all part of this.

In order to put candidates in a "fulsome" position for the broader evaluation process, the Commission said prior preparation is necessary. 

By late summer of 2025, the Commission intends to have finished additional evaluations pertaining to environmental factors and zoning, and Community Advisory Committees should be prepared to examine applications by the middle of the year. 

According to the authority, this might pave the way for a final licence decision by the end of 2025. The winning parties would have to pay the licensing price now so they can launch their new casino a year later.

The Commission stated that the proposed schedule effectively meets the legislative requirements of SEQR and provides enough time for local zoning approvals. The goal is to ensure that the most thorough and optimal plans for commercial casino development are presented.

Does anyone need a licence?
There is intense rivalry to get one of the three new licenses. Empire City Casino will be converted into a full-scale commercial casino in November of last year, according to plans given out by MGM.

Slot machines, table games, betting on harness races, and worldwide simulcasting are all part of the Yonkers facility's video lottery racino operation. But MGM plans to expand the venue by adding a full-service casino with slot machines, live dealers, and a high-limit gaming area and other amenities.

A BetMGM Sportsbook and Lounge, multiple dining options, and an entertainment arena with a capacity of 5,000 are among the additional planned amenities located on the premises.

Hard Rock International and New York Mets owner Steve Cohen revealed plans for a $8 billion casino resort near Citi Field baseball in November.

The project includes a Hard Rock hotel and casino as well as a separate sportsbook facility, all of which are contingent upon the acquisition of the necessary licenses. Twenty acres of additional parkland will accompany the live music arena, snack hall and tailgate park.

At the same time, in October of 2022, Caesars Entertainment will open a casino in New York. Caesars is aiming to work with SL Green Realty to open the facility in Times Square.

Among the proposed developments is the construction of Caesars Palace Times Square at 1515 Broadway. The campaign has the support of Roc Nation, the entertainment company that Jay-Z co-founded.

Simultaneously, Las Vegas Sands plans to construct a Long Island site by acquiring the Nassau Veterans Memorial Coliseum's long-term lease. With a location in the Hudson Yards development on Manhattan under consideration, Wynn is also among the contenders.