The New York Gaming Facility Location Board (GFLB) recommended three downstate projects for licensing: Bally’s Bronx, Metropolitan Park in Queens, and Resorts World New York City. These proposals now move to the New York State Gaming Commission (NYSGC), which is expected to decide by 31 December. The state may issue up to three licences, each with a minimum fee of $500 million.
The finalists include Bally’s Bronx, a redevelopment project at Ferry Point in the Bronx; Metropolitan Park, a Hard Rock resort proposal next to Citi Field in Queens backed by Mets owner Steve Cohen; and Resorts World New York City, which plans to expand its existing Aqueduct racino in Queens into a full casino.
At the start of the year, 11 proposals were competing for downstate licences. Over time, the number dropped to eight, then four, and now three, as some bidders withdrew or did not pass community advisory reviews. Monday’s meeting lasted about 10 minutes but followed weeks of closed-door sessions since 8 October. The GFLB had already gathered evidence before the announcement, relying on external advisers for analysis of market demand, finances, and community impact.
Bally’s Bronx involves redevelopment at Ferry Point in the Bronx, where site control is tied to a lease previously linked to the Trump Organisation. If approved, payments connected to that lease would be triggered. Metropolitan Park is a proposal near Citi Field in Queens from Steve Cohen and Hard Rock, outlining a casino hotel, food hall, and events space. It is one of two Queens projects, raising questions about overlap, though the GFLB concluded the market could support all three finalists.
Resorts World New York City plans to convert its existing Aqueduct racino in Queens into a full casino with table games and expanded facilities, aiming to begin operations by March 2026 if approved.
Each licence carries a $500 million fee, with up to three licences allowed. That amounts to $1.5 billion upfront, part of which is allocated to transit, including the MTA. Resorts World New York City has set a target of March 2026 for opening if approved. Bally’s and Metropolitan Park have projected openings around 2030, reflecting the longer timelines for new construction in dense urban areas.
Board member Greg Reimers stated that no other licensing mix would provide similar revenue or fiscal outcomes. The three projects together balance tax generation with commitments to community and infrastructure. Each proposal includes transit or infrastructure upgrades, partnerships with local businesses, and funding for community organisations, designed to extend benefits beyond the casino operations.
The GFLB estimates the three projects could generate about $7 billion in gaming tax revenue and $5.9 billion in other taxes between 2027 and 2036. These figures reflect conservative consultant modelling rather than developer projections.
The analysis was led by Tailored Hospitality Advisers, with input from Advantage Partners Consulting, Klebanow Consulting, Hall Hospitality Advisers, Ben Mammina Development Group, and Thompson Consulting and Analytics. GFLB chair Vicki Been noted that consultants found some applicant estimates too high, reinforcing the board’s reliance on conservative assumptions.
Been stated, “We ask our consultants to be extremely searching and thorough, and we ask them to be very conservative. They disagreed with some estimates by the applicants and thought that they were quite high, so all of our estimates about the revenue potential are based upon our consultants’ views, not the applicants’ views.”
Two of the projects are in Queens, raising concerns about overlap. The board pointed to New York City’s population, income levels, and tourism as factors that could support multiple casinos, provided they differentiate through facilities and services.
All three projects include hotels, entertainment, retail, and food services to broaden revenue beyond gaming and reduce volatility. These additions are also intended to support wider economic activity. If all three licences are granted, $1.5 billion in fees and ongoing tax flows would be directed to transit and public services. Plans are expected to link benefits to project milestones, such as releasing transit funds in phases. Conservative modelling gives the state scope to hold developers accountable for outcomes.
The NYSGC is set to deliver its final licensing decision by 31 December 2025. It may approve all three projects, approve only some, or impose conditions that change timelines, amenities, or community commitments. Although the Gaming Facility Location Board has argued that granting all three licences would best support the state’s long-term goals, the ultimate decision lies with the commission.
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