Gamblers will soon be able to roll the dice in New York City.
A state board on Monday awarded three licenses to operate the first Vegas-style casinos in New York City that are expected to generate billions of dollars in tax revenues, jobs and economic activity — two in Queens and one nearby The Bronx.
The New York Gaming Facility Location Board — in a 5-0 vote — approved licenses to all three finalists:
The state Gaming Commission has the final say, and will decide whether to ratify or reject the proposals by year’s end.
Each winning bidder is required to pay a $500 million license fee upfront — the admission price for the right to operate a casino.
The $1.5 billion in license fees will go to the MTA.
A pool of what was once 11 bidders has dwindled to three. All the flashy proposals in Manhattan including in Times Square and Hudson Yards were shot down or withdrawn because of community opposition.
The board members noted that the casinos will generate billions in tax revenues as well as thousands of jobs.
The report said the city’s dense population plus domestic and international tourism could support three casinos.
All the bidders will build a concert hall, a hotel and offer bars and restaurants.
The unanimous vote was not without dissent. Some attendees at the CUNY Graduate Center chanted, “Shame! Shame!” after hearing that three casino licenses were being awarded.
As part of the deal to acquire the lease to the Ferry Point property, Bally’s has agreed to pay the Trump Organization if it won the right to operate a casino.
As part of the deal to acquire the lease to the Ferry Point property, Bally’s has agreed to pay the Trump Organization $115 million if it won the right to operate a casino.
This is a developing story.
