New York State Gaming Commission Sets Out Casino License Fee Plan
On June 16, the Gaming Facility Location Board, operating under the New York State Gaming Commission (NYSGC), unanimously approved a financial framework for prospective bidders seeking one of the three downstate casino licenses. The decision established a $500 million license fee along with a $500 million capital investment requirement, creating a substantial financial benchmark for applicants aiming to participate in the state's significant expansion of casino gaming within the New York City metropolitan region.
LISTEN TO THIS ARTICLE:The board's vote formalizes one of the most critical components of the application process. Interested operators must now submit their formal applications by June 27. The state has stated that the final selection and awarding of licenses will be completed by the end of the calendar year.
Related: New York City Casino License Applicants Upgrade ProposalsHowever, submitting an application is only one part of the qualification process. All proposals must also fulfill several regulatory and procedural requirements in order to be eligible for final consideration.
Applicants are required to complete additional review work by September 30. These steps, especially those involving zoning approvals, have created accelerated timelines that present significant challenges. Local government agencies typically operate within compressed review cycles, adding pressure to developers and municipalities involved in the permitting and entitlement process.
Each casino application will undergo evaluation by a Community Advisory Committee (CAC), which serves as a gatekeeping body to assess local community support for the proposal. The CAC process is mandatory and includes a series of public meetings to ensure transparency and community involvement.
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Further Reviews and Approvals Necessary
A two-thirds majority vote from each CAC is required in order for a project to advance through the selection process. The CAC structure differs depending on the bid's location. In New York City, for example, the committee will include Gov. Kathy Hochul, Mayor Eric Adams, and other relevant legislative figures from the district where the casino is proposed.
Eight bids remain active in the competitive process. Among the proposals still in contention are Caesars Palace Times Square, Freedom Plaza in Queens, Metropolitan Park near Citi Field, MGM's Empire City in Yonkers, and Resorts World located at Aqueduct. MGM's Empire City is the only proposal located outside of New York City's five boroughs, although it still lies within the broader downstate region.
Some prominent operators have recently withdrawn from the process. In May, Wynn Resorts announced its exit from the competition for a license at Hudson Yards in Manhattan. The project, which was being developed in conjunction with Related Companies, faced sustained opposition that ultimately contributed to the decision to withdraw.
In April, Las Vegas Sands also withdrew its proposal for a casino at the Nassau Coliseum site on Long Island, citing uncertainty regarding the future legalization of internet casino gambling in New York as a contributing factor to its decision. Earlier in the month, Saks Fifth Avenue also considered entering the race but ultimately chose not to proceed with a bid.
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