NEW YORK | Casino Development| FT| FLOORS

[NYguy]

And now some names to go with the CACs (not that it matters, the names on the left will make the call). I assume that's why the Brooklyn borough president appointed himself. Why put on airs? And Richard Gottfried shouldn't be anywhere near a CAC. His bias has already been stated. Yet he's on 2.



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[NYguy]

https://ny1.com/nyc/all-boroughs/politic...y-committees-picked-for-casino-projects-

Powerful community committees appointed for casino projects


BY Courtney Gross
July 7, 2025

Place your bets on who will win a lucrative gaming license to operate a casino in the five boroughs — a competition that is kicking in to high gear.

On Monday, the members of powerful community advisory committees for each of the eight proposed projects were appointed.

These committees will get up or down votes on the projects later this summer, and could kill any proposal.

In total, there are eight proposals vying for up to three state gaming licenses. Seven of them are within the city's limits.

These projects will need these committees’ approval to move onto the next phase of the competition.

To approve a project, four of them must vote yes.

"Whether I appoint somebody that is pro or against the decision, when it's made, it’s going to fall on me,” Brooklyn Borough President Antonio Reynoso said.

Some officials, like Reynoso, appointed themselves. He will serve on a committee weighing a proposed casino in Coney Island, Brooklyn.

"The person that they are going to hold accountable for the decision that's being made on behalf of me, through an appointment or myself, is me,” he said. “So, there was no reason to appoint someone and have someone think for a second that the decision doesn't fall on me."

The Queens borough president will serve on two committees in Queens — one for Resorts World, which already operates a facility with slot machines in the borough, and another proposed by Mets owner Steve Cohen and Hard Rock.

Other officials appointed staff members, planning experts and local community members.

For many of these projects, this could be a difficult process.

The community advisory committees must vote by the end of September. Then it will go to the state board that makes the final decision.

The state gaming commission is expected to issue the licenses by the end of the year.

[NYguy]

https://www.bloomberg.com/news/articles/...d-become-world-s-biggest-bidders-predict

NYC Casinos Could Become World’s Biggest, Bidders Predict


By Christopher Palmeri
July 8, 2025

Bidders for three New York City-area casino licenses are projecting revenue that would place them among the most lucrative resorts in the world, according to an analysis of their proposals.

In Manhattan, the Freedom Plaza project is expected to generate $2.2 billion in annual revenue in its first year of operation, rising to $4.2 billion by year 10, while billionaire Steve Cohen’s project near Citi Field in Queens is forecast to produce $3.9 billion annually by year three, according to executive summaries the bidders filed with the New York State Gaming Facility Location Board.

Those sums rival some of the world’s top casino performers. Las Vegas Sands Corp.’s Marina Bay Sands resort in Singapore generated $4.2 billion in total revenue last year. Wynn Resorts Ltd.’s two Las Vegas casinos, the Wynn and Encore, produced a combined $2.57 billion in revenue in 2024.

The Coney, a resort proposed for Coney Island, is the only project that shared specific revenue estimates by source and year. Its backers, including real estate investor Joe Sitt, project $669 million in table-game revenue and $754 million in slot-machine revenue in its first year of operation. By comparison, Wynn’s two Las Vegas casinos generated $611 million from table games and $446 million from slots last year.

The projects would bring the first full-fledged casinos to America’s most-populous city. The bidders are a mix of billionaires, property owners and established casino operators. Three of the proposals are for Manhattan, with the rest in a suburb or outer borough. Revenue estimates are just projections, and the numbers may change as the bidders update their offers later in the process.

Caesars Entertainment Inc. has proposed a casino in Times Square that it said would generate $23.3 billion in gambling revenue alone over 10 years. A spokesperson for the project called it an opportunity to generate “historic tax revenue” for the city. “We see all of Times Square becoming the resort, with local restaurants, hotels and Broadway theaters all directly benefiting," the spokesperson said.

The Avenir, from developer Larry Silverstein, projects $2.5 billion in gambling revenue in its first full year. “Locating a destination casino in Manhattan will generate the most revenue for the state, according to New York’s own independent study,” the Avenir executive summary said. “It is not in the economic interest of Manhattan to force its tourists to travel to other boroughs to enjoy gaming and its amenities.”

MGM Resorts International, which operates a slot-machine-only facility in Yonkers, and Genting Group’s Resorts World, which has a similar property next to the Aqueduct racetrack in Queens, said their gambling revenue would more than double if they’re allowed to add table games like blackjack and sports betting. MGM projected casino revenue of as much as $1.39 billion annually, while Resorts World said its casino revenue would jump to $2.2 billion a year by 2027.

[NYguy]

Avenir interior spaces...

[NYguy]

https://www.gurufocus.com/news/2964024/v...dollar-giants-in-times-square-and-beyond

Vegas Who? NYC's Casino War Is Set to Mint Billion-Dollar Giants in Times Square and Beyond
Manhattan, Queens, and Coney Island are going all-in with eye-popping revenue bets that rival the world's top resorts.


Khac Phu Nguyen
July 8, 2025

The battle to bring full-scale casinos to New York City has officially entered sky-high territory. Several bidders—including heavyweight names like Steve Cohen, Larry Silverstein, and Caesars Entertainment—are pitching revenue projections that could place their resorts among the most lucrative in the world. The Freedom Plaza project in Manhattan estimates $2.2 billion in its first year, with potential to nearly double by year 10. Cohen's Citi Field-adjacent site in Queens is forecasting $3.9 billion annually by year three. And Silverstein's Avenir project expects $2.5 billion in gambling revenue right out of the gate—leaning on a state-commissioned study that found a Manhattan-based casino could generate far more than any outer borough location.

Other contenders are playing the breakout game. The Coney Island-backed Coney resort projects $1.42 billion in its opening year, with table games and slots forecast to outperform even Wynn Resorts' (WYNN) combined 2024 Vegas numbers. Caesars' Times Square concept stands out for its scale, projecting $23.3 billion in gambling revenue across a decade. Its team argues the entire Times Square ecosystem—from restaurants to theaters—would become part of the experience.

Meanwhile, MGM (MGM) and Resorts World, both operating limited licenses in Yonkers and Queens respectively, are pushing to upgrade to full casino rights, which could more than double their current revenues if table games and sports betting are approved.

[NYguy]

https://www.bxtimes.com/inside-ballys-br...aming-floor-and-hotel/?preview_id=130529

Inside Bally’s Bronx casino: Exclusive renderings show rooftop bar, gaming floor, and hotel


By Emily Swanson
July 8, 2025

As the battle for casino development in the city heats up with eight companies vying for three licenses, Bally’s shared an exclusive preview of interior spaces within its proposed project in Soundview’s Ferry Point Park, including the hotel rooms, restaurants, gaming floor and more.

For several months, Bally’s has touted what it calls historic investments in Bronx economic development as it hopes to gain a casino license and bring a massive mixed-use complex to an area that was once a landfill.

The renderings by Gensler, a global architectural firm, show that the proposed $4 billion waterfront complex goes far beyond gaming, said Chris Jewett, project lead and senior vice president of corporate development.

Plans for the complex include a 2,000-person event center, restaurants, retail shops, spa and food hall. Jewett said the rooftop bar/restaurant is especially noteworthy for its expansive city views rarely found in the Bronx and that the site would provide space for higher-capacity events, conventions and entertainment in the borough.

In exchange for the hotel-casino project, Bally’s has promised a slew of benefits for the Bronx, including 4,000 permanent, union jobs that would pay $96,000 per year on average, according to the company. It will also support educational and sports organizations and offer opportunities for locals to buy partial ownership stakes in the project.

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[NYguy]

Plans have changed slightly since these renderings, but basically the gist of it...














Sample layout of a casino floor...


















Sample other floors

[NYguy]

Another one down…..


https://cdcgaming.com/brief/new-york-cit...sino-rezoning-likely-killing-4b-project/

New York City Council rejects Bally’s Bronx casino rezoning, likely killing $4B project


July 14, 2025
Nick Garber

The City Council voted Monday to reject the land-use changes that the Bally’s Corp. needs for its Bronx casino, a seemingly fatal blow for the $4 billion project.

Lawmakers voted 29-9, with 4 abstentions, in favor of a motion to disapprove that was put forward by Councilwoman Kristy Marmorato, a Republican who represents the East Bronx site. By siding with Marmorato over the Rhode Island-based casino company, lawmakers likely ended the casino bid before it could even compete in the state-led licensing process, and narrowed the number of casino contenders to just seven.

Bally’s chairman Soo Kim called the outcome “incredibly disappointing” in an interview Monday evening.

“We had met the council member’s ask in terms of what exceptional community benefits they wanted. That ask was moving the goalposts from the prior ask, which we had met as well,” he said. “It’s sort of nutty. What more can we do than meet the ask?”

Kim acknowledged that the land-use changes were a “prerequisite” for the whole project, and another person close to the casino bid called it highly unlikely that it could now advance. Bally’s was seeking to build its 3 million-square-foot project on the former site of the Trump Links golf course in Throggs Neck and needed council approval to develop what is technically city parkland.

Marmorato, who implored her colleagues to reject the project, said Monday that the developers “came to the table a little too late, with promises too vague and a process too flawed to rebuild the trust that was already lost in our community.”

“This is not real economic development. This is not housing, a hospital or community improvements,” she said. “It’s a casino.”

In a separate statement released by her office, Marmorato acknowledged having received “last-minute offers” but called them insufficient.

[NYguy]

Applications are finally in. But slow down if you think that means we're getting anywhere. There's still a shitload of meetings, meetings, and more meetings to be had.

The CACs are only just beginning.



• Video Link

[NYguy]

The Freedom Plaza wing of the circus forms...


https://www.youtube.com/live/j24HhasynU8?si=X47YLsmbRtGcX8wd


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[DCReid]

Originally Posted by NYguy

https://w42st.com/wp-content/uploads/2025/06/Caesars-Palace-Times-Square-Executive-Summary.pdf

Looking at all of the proposals, this Times Square one seems so weak development-wise as it seems to be just a building renovation. But I bet it will one of the winners because of the people and organizations behind it, as well as the commitments to the community. And the review committee may decide that the Manhattan sites of the Freedom and Avenir proposals will be developed anyway given even without a casino.

[NYguy]

Originally Posted by DCReid

Looking at all of the proposals, this Times Square one seems so weak development-wise as it seems to be just a building renovation.

Seems is the word. It's much more than just a redevelopment though. The will be demolishing a rebuilding a huge portion of it. None of it will be cheap. But its about more than the site alone, as the economic development is meant to spur economic activity to the surrounding businesses. That's where that proposal comes in as the strongest, because it doesn't have the room to "create" a lot of what the out of the way proposals will have to include on site, like the Cohen proposal in Queens. A large percentage of what some of the other proposals are building is simply parking. I think about 2/3 of the development in Queens would be parking.

[NYguy]

https://www.investing.com/news/transcrip...-raises-guidance-stock-dips-93CH-4140532

Earnings call transcript: SL Green Realty Q2 2025


07/17/2025

Mark Holliday, Chairman and Chief Executive Officer, SL Green Realty Corp

...one of the most momentous events of the quarter was something that wasn’t even included in the earnings release. And that is the filing of our response to the state’s RFP in the casino license bid project. It represents almost four years of work, effort, planning, partnering and listening to the community and other constituencies, all of which came together in a 13,000 page document that was filed in the second quarter at the state’s offices near Albany.

And it was a privilege to present to the state Caesars Palace Times Square. It’s located in one of the world’s most iconic destinations that will provide far and away more tax revenue for the people of the state than most other, and if not all other proposed facilities, while bringing a new attraction to Times Square that befits its location at the center of the entertainment universe.

Caesars Palace will achieve this lofty ambition without displacing residents or utilizing land that could otherwise be developed for much needed housing. The project has been intentionally and uniquely designed and programmed to uplift surrounding businesses and residents, not displace them, And that makes this project truly unique among all the proposed projects. Caesars Palace Times Square is set precisely where a global entertainment facility should be. Times Square, the world’s greatest tourist and entertainment destination at the crossroads of the world. Of, you know, wish us luck in that endeavor.

It’s the start of a ninety day process that with the community advisory committee that was formed, And we hope to be through that and be able to make it to the next step of the bid process in Albany after we are able to get the consensus that we need at the CAC and majority vote to move on. We’re very confident because we have a fantastic proposal on all merits and more to come on that on the next call.

I think the casino would be absolutely transformational for Times Square. Times Square is the beating heart of New York. You know, it’s one of the, you know, greatest entertainment assets in the world, And it certainly has great attraction of tourism, people coming through the square, which is not really a square, to sightsee and to sort of be in the moment, those Instagram moments. But Times Square can be much more than that. And that’s really what we hope to achieve with this project is making Times Square again a place where people stay, shop, eat, continue to go to Broadway, but also other forms of live entertainment, music, comedy, non Broadway live performance.

I mean, you know, the potential is so great and the halo effect of what it means for small businesses, for the community, for, you know, hundreds of millions of dollars which we’ve committed in and around the area to daycare centers and safety and security enhancements, decongestion strategies, mental health awareness.

It just goes on and on that I think the way in which One Vanderbilt kind of helped to transform Grand Central into the experience it is today, partly because of development, partly because of the enabling zoning. I think you’re going to see that exponentially exhibited in the surrounding areas, Times Square, Health Kitchen, West Side Manhattan, New York City. There’s no limit to, I think the benefits that will come from a very high end world class destination oriented casino. And we’re very hopeful to make that happen.

[NYguy]

• Video Link

[NYguy]

And now, these idiots…


https://www.nydailynews.com/2025/07/20/an-adams-veto-must-give-a-bronx-casino-a-chance/

An Adams veto must give a Bronx casino a chance



Salamanca, chair of the Council Land Use Committee, and Riley, chair of the Subcommittee on Zoning, are Bronx councilmen.

For too long, the Bronx has been overlooked in NYC’s economic development plans. Major projects in Manhattan, Brooklyn or Queens are hailed as victories for working families. But when it’s the Bronx’s turn, the door too often slams shut.

That’s what happened last Monday, when the City Council voted to block even consideration of the Bally’s Ferry Point proposal — a $4 billion private investment that would have delivered:

-15,000 union construction jobs

-4,000 permanent union jobs averaging $96,000 per year

-Well more than $625 million in community benefits, including:

-$17.5 million annually for schools, parks, youth programs, and nonprofits

-More than $100 million in park improvements in Community Board 10

-A satellite NYPD precinct, along with $75 million in traffic mitigation

Bally’s didn’t just pitch an idea — they showed up in real ways. They responded in writing to every concern about traffic, parking, and design. They proposed removing the DOT-imposed bike lane and adding a traffic lane to ease congestion. They pledged to hire Bronx residents through a dedicated Workforce Advisory Board and partnerships with local schools and colleges.

They also launched — and continue to operate — a free shuttle bus connecting East Bronx residents to the Throggs Neck ferry landing and nearby small businesses, addressing a longstanding transit gap in a community underserved by public transportation.

The 10-stop route, running weekdays from Westchester Square through East Tremont to Ferry Point Park, has already carried thousands of riders since its launch. Developed in partnership with local leaders and branded in tribute to the late Bronx Chamber Chair Joe Kelleher, the shuttle is a lasting investment in Bronx connectivity — and a real example of what it means to show up as a good neighbor.

This was a missed opportunity for the Bronx. If this same project had been proposed in Queens or Brooklyn, it would have sailed through. Queens could afford to lose Amazon because it has multiple massive economic engines. The Bronx doesn’t — we need this project.

That’s why we’re calling on Mayor Adams to veto the Council’s action and allow this project to move forward. Under the City Charter, if the Council fails to override the veto within 10 days, the project is approved. Given the timing and scheduling challenges of the August recess, this may be the only path forward.

This is about more than Bally’s. It’s about the Bronx — and whether we ever get to say yes to opportunity. It’s about whether our borough gets to lead its own future, or whether we’ll always be told “not yet,” “not here,” or “not for you.”

This project is bigger than any one councilmember. Bigger than one neighborhood. And one only needs to look at this process to wonder why we have a housing and affordability crisis in the city.

We are tired of being left behind. Every borough in this city has received its signature developments — from Hudson Yards to Citi Field to the Barclays Center. The Bronx deserves the same.

[NYguy]

https://commercialobserver.com/2025/07/new-york-casino-license-deadline-bids/

New York’s Casino Race Has No Clear Favorites Six Months Out
Ahead of a December deadline — and despite millions already spent — there appear to be no clear favorites for landing one of three downstate gambling licenses


BY MARK HALLUM
JULY 21, 2025

[NYguy]

https://casinobeats.com/2025/07/22/resorts-world-queens-casino-expansion-cac-meeting/

Resorts World Promises ‘Ready-to-Go’ Casino Expansion By Mid-2026 at CAC Meeting


July 22, 2025

The New York casino licensing process has continued this week with a Community Advisory Committee (CAC) hearing for the $5.5 billion Resorts World New York City casino bid in Queens on June 21.

Resorts World’s Chief Legal and Strategy Officer, Kevin Jones, led the presentation by the developer team, which promised immediate economic benefits, rapid construction, and strengthened community ties.

If it wins one of the three available licenses, Resorts World’s parent company Genting would convert the existing racino at the former Aqueduct Racetrack into a full-scale casino.

The developers emphasized the property’s 15-year presence in the community. During that period, it has contributed over $4.5 billion in tax revenue to the state.

The development team touted that it could complete the conversion in just six months. They claim the existing casino floor is capable of accommodating 4,000 slot machines and 250 table games.

“We already have the environmental reviews, zoning approvals, and permits in hand,” Jones said. “This means we can begin construction immediately and generate jobs and tax revenue by next year.”

If it receives a license, Resorts World could open its casino by mid-2026, at least a year ahead of any of the eight casino bidders. In comparison, the other racino in the running, MGM Empire City, is targeting a mid-2027 opening.

Following the first conversion phase, Resorts World New York would begin a broader expansion. By 2030, it will grow into the largest casino in the US, featuring 6,000 slot machines and 800 tables.

[NYguy]

Some of the nightlife planned for the Times Square casino...


























Floor layout, and a few more renderings from Caesar's Palace Times Square...



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[NYguy]

A look at the planned phasing of the Times Square casino...



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[streetscaper]

Wish the stone pinwheels were getting reclad is a nice finished metal or something. They give the exterior a rather drab look as is. The exterior can use some more flair, but the interiors looks amazing.