Pair of Las Vegas Strip operators get initial approvals for New York casinos
Two major Las Vegas-linked casino operators cleared a key hurdle Thursday in New York’s casino licensing process, as MGM Resorts International and Genting Group won local approvals to convert their racetrack casinos in Yonkers and Queens into full-scale resorts.
The separate proposals were unanimously approved by six-member Community Advisory Committees, a step necessary for New York gaming regulators to consider a license application.
The CAC endorsements put Las Vegas-based MGM and Resorts World Las Vegas operator Genting on track to claim two of the three coveted downstate class III gaming licenses, a move expected to trigger multibillion-dollar investments in the greater New York City area and generate billions more in revenue for the already successful racinos.
MGM operates Empire City Casino in Yonkers while Malaysia-based Genting operates Resorts World New York City at Aqueduct Racetrack in Queens. In 2023 and 2024, Resorts World NYC was the highest-grossing commercial casino in the United States outside Nevada and Mississippi, and Empire City Casino was the sixth-highest-grossing operation, according to data from the American Gaming Association.
Class III licenses would allow the properties to add live dealer table games and random-number-generated slot machines, a step up from the video lottery terminals and electronic table games they currently offer.
Selected applicants must pay a one-time fee of $500 million and commit to at least $500 million in capital investment.
Details on applicants
MGM operates several other casino-hotels in eastern states, including MGM National Harbor in Maryland, Borgata in New Jersey and MGM Springfield in Massachusetts. National Harbor is the country’s second-highest-grossing commercial casino outside Nevada and Mississippi, while Borgata, which is Atlantic City’s top-performing property, is the fourth-highest-grossing, based on AGA data.
Genting had another casino in New York, the struggling Resorts World Catskills. Its future is in limbo after officials in host Sullivan County, N.Y., recently took over the property.
CACs in Manhattan have already rejected three casino bids, only one of which, Caesars Palace Times Square, had any connection to a Las Vegas Strip operator. Wynn Resorts pulled its Manhattan proposal before the CAC could vote, based on expected local opposition. A Las Vegas Sands proposal for a resort on Long Island at the site of the former Nassau Coliseum was abandoned in April.
Other casino proposals
There are three other casino proposals for the one remaining downstate New York class III gaming license.
A proposed casino partnership between Hard Rock International and billionaire Steve Cohen in Willets Point, Queens, called Metropolitan Park, is the odds-on favorite to secure the final license. The 50-acre, $8 billion entertainment complex would be adjacent to Citi Field, where Cohen’s New York Mets play 81 home games. Despite opposition from a local senator, the CAC is expected to vote in favor of Metro Park on Sept. 30.
Hard Rock International is in the process of transforming the former Mirage casino-hotel into Hard Rock Las Vegas, as well as constructing the 660-foot-tall Guitar Tower Hotel on the Strip.
Bally’s Corp. is proposing a casino resort at Ferry Point in The Bronx on 17 acres of the public Bally’s Golf Links, formerly Trump Golf Links. While the bid has tepid local support, New York City Mayor Eric Adams has intervened on the project’s behalf once already. New York media reports suggest the golf course’s former owner could receive a $125 million bonus if a casino is approved at the site. The Bronx CAC will vote on the Bally’s proposal Sept. 29.
Bally’s operated the Tropicana Las Vegas before the Strip property was imploded last year.
Thor Equities Group, Saratoga Casino Holdings and the Chickasaw Nation want to build a casino on Coney Island. The Brooklyn CAC is expected to reject this proposal on Sept. 29.
The Review-Journal is owned by the Adelson family, including Dr. Miriam Adelson, majority shareholder of Las Vegas Sands Corp., and Las Vegas Sands President and COO Patrick Dumont.
Contact David Danzis at ddanzis@reviewjournal.com or 702-383-0378. Follow @AC2Vegas_Danzis on X.
