Casino giant Bally's falling short of zoning approval in New York, potentially putting them out of contention for the state's casino race.
In the competitive race for one of the three available New York City casino licenses, eight bidders have submitted their proposals by the June 30, 2025 deadline. Each bidder paid a non-refundable fee of $1 million to enter the process, with a $500 million license fee for each license up for grabs [1][2].
One of the most notable bids comes from MGM Yonkers, proposing a $2.3 billion upgrade plan that includes a sportsbook and concert venue, positioning itself strongly in the race [1][2].
Recent developments, as highlighted by industry expert Grant Mitchell, show that Empire City Casino in Yonkers—operated by MGM Resorts—has gained a significant advantage. This is due to the New York City Council’s rejection of Bally's Bronx proposal, which faced concerns over its viability [4].
Bronx authorities and local stakeholders have rallied behind Empire City’s bid, citing its robust economic benefits, existing infrastructure, and strong community support. This includes the creation of up to 2,000 permanent jobs for Bronx residents and substantial vendor contracts [4].
As a result, the competitive balance has shifted in favour of Empire City, especially as Bally's plan faces local opposition and lacks clear public benefit [4].
The final selection is pending, with proposals still needing majority approval from a six-member Community Advisory Committee by September 30. The New York State Gaming Facility Location Board is expected to make the final decision by December 1, with licenses issued by year-end [1][2].
Grant Mitchell, a veteran of the gambling industry with experience in casinos, sports betting, and iGaming, reports that the latest update shows a narrowing field with Empire City emerging as a leading contender. Seven other high-profile bidders are also seeking one of the three licenses across different NYC boroughs [1][4].
The casino vote ended with a result of 29-9 against it, with four abstentions [3]. Despite this, the race for the coveted licenses continues, with each bidder vying for the opportunity to bring their vision to life in the bustling city of New York.
[1] Grant Mitchell's Report on the Casino Race [2] Latest Updates on the Casino Race [3] Casino Vote Results [4] Empire City's Advantage in the Casino Race
- Grant Mitchell, an expert in the gambling industry, notes a shift in the competitive balance towards Empire City Casino in Yonkers, citing its robust economic benefits, existing infrastructure, and strong community support, alongside the rejection of Bally's Bronx proposal.
- Amidst the ongoing race for one of the New York City casino licenses, online casinos may also witness increased competition, as the latest update showcases a narrowing field with Empire City emerging as a leading contender, offering a sportsbook and concert venue.
- In addition to the traditional casino games like roulette and slot machines, finance experts foresee the sports betting industry playing a significant role in the New York City casino scene, given the anticipated growth of this sector in the bustling city of Las Vegas-style entertainment.
