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Queens: Cohen-Hard Rock Partnership
Cohen’s group plans to develop an $8 billion casino complex adjacent to Citi Field in Flushing, featuring a concert venue and additional amenities. Project developers estimate the facility would generate over $1 billion annually in tax revenue and create more than 6,000 permanent positions. Hard Rock International serves as a partner in the development.
Queens: Resorts World Expansion
Resorts World has submitted plans to transform its existing electronic gaming facility at Aqueduct Racetrack into a full-service casino through a $5.5 billion investment. The operator projects the expansion would add 5,000 permanent jobs and produce more than $1 billion per year in tax revenue.
Bronx: Bally’s Ferry Point Project
Bally’s is seeking approval for a $4 billion casino, hotel, and entertainment complex on the site of the former Trump Organization golf course in the Bronx, currently operating as Bally’s Golf Links at Ferry Point. The company forecasts the development would attract more than 9 million annual visitors, generate approximately $400 million in yearly tax revenue, and support nearly 4,000 permanent positions.
Under the terms of Bally’s acquisition agreement, the company would pay the Trump Organization $115 million upon receiving a casino license.
“Looks pretty good. We put our best effort out there. I don’t think we have any weak spots,” said Bally’s Chairman Soo Kim.
Addressing questions about the Trump Organization’s financial interest in the project, Kim stated: "Trump gets a fair deal. The Bronx gets a great deal."
Licensing Background
New York voters approved a constitutional amendment in 2013 authorizing up to seven casinos statewide, with up to three licenses designated for the New York City area after upstate properties launched operations.
Former Governor Andrew Cuomo championed casino expansion as a strategy to capture revenue from New Yorkers traveling to other states for gaming activities.
Research indicates that economic projections for casino developments do not always match actual results. Despite this, operators consider downstate New York one of the largest undeveloped gambling markets in the United States.
Source: Yogonet
