New York State has granted final approval for three downstate casino licences, clearing the way for major new gambling developments in Queens and the Bronx and bringing a 13-year casino expansion process to a close just weeks before the end of the year.
The New York State Gaming Commission signed off on the licences in mid-December, following recommendations made earlier this month by the Gaming Facility Location Board. The decision authorises full casino resorts at Resorts World New York City in Queens, Bally’s Bronx, and Metropolitan Park near Citi Field.
Commission chair Brian O’Dwyer said the approvals marked a significant milestone for the state and positioned the projects as long-term economic drivers for New York City and the wider region.
Queens and the Bronx secure multibillion-dollar casino projects
The approvals stem from a constitutional amendment passed by New York voters in 2013, which allowed the state to authorise up to seven commercial casinos. While four upstate venues were approved shortly after, the legislation reserved up to three licences specifically for the New York City area following a mandatory waiting period.
That moratorium expired in 2023, triggering one of the most competitive casino bidding processes in US history. Eight proposals were initially submitted for the three licences, with bids ranging from Times Square to Coney Island. After community advisory committee reviews and regulatory assessments, only four proposals advanced to the final stage.
Caesars Entertainment’s Times Square bid, backed by Jay-Z, failed to secure sufficient local support, while MGM Resorts withdrew its Empire City expansion proposal at the eleventh hour, citing shifting economic assumptions and growing competition. The three remaining projects were formally approved by the Gaming Commission on 16 December.
Resorts World, Metropolitan Park and Bally’s Bronx get green light
Resorts World New York City will expand Genting Group’s existing video lottery terminal facility at Aqueduct Racetrack into a full commercial casino. The project carries a projected investment of more than $5.5bn and is expected to be the first of the three to open, with operations targeted for March 2026.
The Queens-based development will add live table games, a 1,600-room hotel, an arena, and extensive food and entertainment offerings. Genting has already committed to an independent oversight structure to ensure delivery of promised community benefits.
Metropolitan Park, the largest of the three proposals, will be developed next to Citi Field through a partnership between New York Mets owner Steve Cohen and Hard Rock International. The $8bn project was awarded a 20-year licence in recognition of its scale and long-term investment profile.
Plans include a casino resort, hotel, live entertainment venue, food hall, and more than 25 acres of public parkland. Hard Rock International chair Jim Allen said the project would deliver sustained economic value for Queens and the wider city.
Bally’s Bronx will be constructed at the former Ferry Point golf course site. The $4bn development will include a casino floor, a 500-room hotel, an event centre, restaurants, and retail space. Bally’s has committed to employing more than 3,500 workers once the venue is operational.
State forecasts billions in tax revenue and job creation
State officials estimate the three casinos will generate around $1bn annually in gaming tax revenue by 2036. Combined incremental tax receipts between 2027 and 2036 are projected to reach $7bn, alongside $1.5bn in upfront license fees.
Under the licensing framework, slot revenue will be taxed at a minimum rate of 25 percent, while table games will be taxed at 10 percent. The Gaming Commission has also required each operator to appoint an independent monitor for at least the first five years of operation to ensure commitments around employment, infrastructure, and community investment are met.
Governor Kathy Hochul said the projects would generate tens of thousands of construction and permanent jobs while delivering long-term funding for transport, education, and public services.
High-profile bids fall away as competition narrows
Several high-profile proposals fell away during the process. Caesars Palace’s Times Square casino failed to secure community backing despite a high-profile campaign, while MGM Resorts abandoned its bid to convert Empire City into a full casino resort just days before final submissions were due.
MGM cited the proximity of competing projects and evolving market conditions as reasons for its withdrawal, highlighting the intense commercial pressure surrounding the downstate licences.
Despite concerns about market saturation, regulators concluded that New York City’s population, tourism volumes, and existing out-of-state gambling leakage support the viability of three large-scale casinos operating in close proximity.
Long timelines remain as projects move toward construction
While Resorts World New York City is expected to open first, the Metropolitan Park and Bally’s Bronx developments are not expected to open until around 2030. All three projects remain subject to ongoing regulatory oversight and local planning approvals.
Genting’s expansion plans have faced recent financing challenges following an unsuccessful attempt by Genting Bhd to fully acquire Genting Malaysia, a move intended to support its New York investment. Despite the setback, the company has reaffirmed its commitment to the Queens project.
For New York, the approvals represent the final step in a long-delayed expansion strategy that officials believe will keep gambling spend within the state rather than flowing to neighbouring markets in New Jersey and Connecticut.
After more than a decade of political debate, legal reviews, and failed bids, New York’s long-anticipated casino expansion is now locked in.
