Community Advisory Committee unanimously backs two NYC casino bids
MGM Empire City, affiliated with BetMGM, and Resorts World New York City have both moved one step closer to being granted a New York City casino license, after both their bids were unanimously approved by their respective Community Advisory Committees (CACs).
Both of these proposals became the first bids to clear this part of the process and therefore look likely to both be granted one of the three licenses up for grabs in the city.
Resorts World New York City & MGM Empire City bids
The Resorts World New York City proposal was approved with a 6-0 vote in favor of the proposal by the Queens-based Community Advisory Committee (CAC). Whilst the MGM Empire City proposal up in Yonkers had a 5-0 vote in favor of their bid.
Throughout this heated process, both bids have been considered the front-runners due to the fact they’re racetracks that already operate video lottery terminal (VLT) facilities – called racinos. Therefore, the buildings are deemed to be more of an extension of their current offerings, rather than a new build.
Following news of the 5-0 vote in favor of the MGM Empire City proposal, the company released the following statement: “We are grateful to the Community Advisory Committee and our local community for demonstrating their continued support for Empire City Casino.
“For more than 100 years, Yonkers Raceway and Empire City have been intertwined with the city of Yonkers. We look forward to continuing to drive well-paying jobs for local residents and providing hundreds of millions of dollars in annual education revenue to the State of New York.”
Similarly, Robert DeSalvio who is the president of Resorts World New York City partners Genting, added: “On behalf of the entire Resorts World team, I want to thank the Community Advisory Committee for recognizing the impact we will have not only on Queens but all of New York and the state.
“We are incredibly grateful to the large number of residents, partners, and supporters who touted this project, without a single person speaking against it.”
The casino projects
MGM’s proposed $2.3bn expansion and Resorts World’s $5.5bn proposals still need to be presented to the Gaming Facility Location Board who will review all approved proposals and make its recommendations in December.
Then, the final decision will rest with the New York State Gaming Commission who will decide, by the end of the year, what proposal will get the license and need to pay the $500m fee.
These two approvals follow news of the CACs rejecting all three Manhattan-based applications; including Jay-Z’s backed Caesars Palace Times Square Casino, Freedom Plaza and The Avenir. They were all rejected by a 4-2 vote. Whilst The Coney bid in Brooklyn is also expected to be rejected after four CAC members have publicly expressed concerns over the proposal.
As such, MGM Empire City and Resorts World New York City are certainly strong-favorites at this stage to be two of the three approved proposals.
