The New York State Gaming Commission has taken a significant step towards the establishment of downstate casinos by unanimously approving the first three members of the Gaming Facility Location Board. This panel will play a crucial role in managing the application process for three downstate casino licenses, evaluating proposals, and selecting three companies to proceed to final approval. With former New York City Housing commissioner Vicki Been, New York Women’s Chamber of Commerce president and CEO Quenia Abreau, and former Hofstra University president Stuart Rabinowitz as the initial members, the board will consist of five individuals, with two more yet to be appointed. The budget provisions made earlier this year paved the way for the three downstate gaming licenses, attracting notable contenders like Wynn Resorts, Las Vegas Sands, and Hard Rock International.
Downstate Casino Licenses in New York:
The allocation of downstate casino licenses represents a significant development in New York’s gaming landscape. These licenses will provide companies with an opportunity to establish casinos in key locations, driving capital investment, job creation, and increased tax revenues for their host locations. The three selected companies will have the chance to make tangible positive changes to the areas they serve, contributing to economic growth and development.
Members of the Gaming Facility Location Board:
The approval of the first three members of the Gaming Facility Location Board marks a critical milestone in the licensing process. Comprised of Vicki Been, Quenia Abreau, and Stuart Rabinowitz, the board brings diverse expertise and backgrounds to the table, ensuring a well-rounded evaluation of proposals. With two more appointments to be made, the board’s final composition will play a pivotal role in shaping the future of downstate gaming in New York.
Notable Contenders and Licensing Timeline:
Prominent gaming companies, including Wynn Resorts, Las Vegas Sands, and Hard Rock International, are actively scouting locations and preparing to submit bids for the coveted casino licenses. Existing establishments like Resorts World Queens at Aqueduct Racetrack and Empire City Casino at Yonkers Raceway are also potential candidates for expansion. Each license will come with a minimum cost of $500 million, showcasing the high stakes involved in securing these licenses. The Gaming Facility Location Board has 90 days to formally solicit proposals from prospective developers, with licensing not expected until 2023.
The New York State Gaming Commission’s approval of the initial members for the Gaming Facility Location Board signifies a crucial step in the establishment of downstate casinos. With a panel consisting of experts from diverse backgrounds, the evaluation and selection process for three gaming licenses promises to be thorough and fair. The entry of notable contenders and the potential expansion of existing establishments set the stage for a competitive bidding process. As the state looks towards the future of gaming, the development of downstate casinos represents a significant opportunity for economic growth and prosperity in the region.