Three commercial casinos in downstate New York were put up for bids in January of last year by the state. There are now four casinos in upstate New York that were authorised by a constitutional amendment in 2013. Three other casinos will be added to the list, either in close proximity to New York City or later on.

Several major players in the land-based casino industry have already expressed interest in the process. A number of operators, including Caesars Entertainment, MGM Resorts International, Wynn Resorts, and Las Vegas Sands, have announced preliminary plans for new casinos.

Those anticipating a resolution this year, however, will be sorely disappointed. 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. A few environmental regulations fall within this category, such as the SEQR Act, which applies to both state and local governments.

These reviews will most likely not wrap up in the first quarter of 2025, according to Williams. As a result, interested parties may need to revise their applications, which are then subject to additional approval. Williams warned that a "administrative nightmare" would result from moving on with the license procedure before the reviews were finished. 

All applicants are required to complete Uniform Land Use Review Procedures (ULURPs), which could add further time to the process. Such a process, similar to the SEQR, is unlikely to be finished until early 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 cautioned that additional delays in the future could result from improper execution.

"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.

Tips for New York applicants
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.

This preparatory work will put candidates in a "fulsome" position, according to the Commission, before the broader examination process begins. 

Midway through 2025 is when the Commission is targeting Community Advisory Committees to be prepared to examine applications, and by late summer of the same year, they want to have finished additional studies pertaining to zoning and environmental factors. 

According to the authority, this might pave the way for a final licence decision by the end of 2025. With the intention of launching their new casino a year down the road, the winning parties would have to pay the corresponding licencing charge now.

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.

Video lottery racino operations include slots, table games, betting on harness races, and worldwide simulcasting at the Yonkers site. Yet, MGM plans to expand the venue by adding a full-service casino with slot machines, live dealers, and a high-limit gaming section.

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.

Together with Hard Rock International, New York Mets owner Steve Cohen presented plans for a $8 billion casino resort near Citi Field ballpark 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. The venue is expected to be opened in Times Square by Caesars in collaboration with SL Green Realty.

The redevelopment of 1515 Broadway is part of the plan to construct Caesars Palace Times Square. The campaign has the support of Roc Nation, the entertainment company that Jay-Z co-founded.

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