The race for downstate New York casino licenses has reached a critical stage as eight bidders submitted their final applications by the June 27 deadline. The New York State Gaming Facility Location Board is expected to issue up to three licenses later this year, with developers competing for a share of what analysts estimate could be a $4.4 billion annual market.
Among the high-profile bids is Freedom Plaza, a project by the Soloviev Group and Mohegan. Their proposal includes an $11 billion mixed-use development in Midtown Manhattan with a casino built beneath a five-acre public park, over 1,300 housing units—nearly half of which would be affordable—and a 1,250-room hotel. The developers have pledged to contribute 2 percent of gaming revenue toward local housing and workforce development.
Another major contender is Silverstein Properties’ Avenir, a $7 billion casino and entertainment complex near the Javits Center. The plan includes a 1,000-room Hyatt hotel, event spaces, a food hall, and a residential conversion of nearby office buildings to add 2,000 new apartments.
In Times Square, Caesars Entertainment and SL Green have partnered with Roc Nation to propose a casino and hotel project. While the bid has received backing from labor unions and some local businesses, critics have expressed concerns about its potential impact on traffic and the theater district.
Outside Manhattan, Genting seeks to expand its existing racino at Aqueduct in Queens into a full-scale casino resort. Meanwhile, Mets owner Steve Cohen has submitted plans for a casino and entertainment complex near Citi Field in partnership with Hard Rock. Additional proposals from MGM, Bally’s, and Thor Equities target sites in the Bronx, Brooklyn, and Yonkers.
The final decision on which New York casino projects move forward is expected by the end of the year.
