New York’s casino ambitions aren’t modest — bidders believe they’re building more than just gaming halls. They’re aiming for some of the most profitable resorts on the planet.
It’s a bold vision. The executive summaries of several major contenders for three downstate casino licenses paint a future where Manhattan and Queens rival not just Las Vegas but the crown jewels of global gaming. The numbers? Staggering.
Billions on the Table and No Signs of Slowing Down
Freedom Plaza, a proposed development in Manhattan, is projected to pull in $2.2 billion in its first year. That figure’s expected to double by year ten — hitting $4.2 billion annually. In Queens, the numbers are just as jaw-dropping. Steve Cohen’s proposal near Citi Field is forecast to generate $3.9 billion a year by its third year of operation.
To put that into perspective, Singapore’s Marina Bay Sands — one of the most profitable casinos in the world — pulled in $4.2 billion last year.
These aren’t pipe dreams. They’re plans submitted to the New York State Gaming Facility Location Board as part of an aggressive bid to reshape New York’s entertainment economy. If even half of those forecasts prove true, New York won’t just be a new player — it’ll be a dominant force.
Location, Legacy and Local Politics
Here’s the thing: location matters, but in New York, so does politics. The idea of opening full-scale casinos in Manhattan or Queens isn’t sitting easily with everyone.
Freedom Plaza’s location would put a casino in the heart of Manhattan. That’s both a tantalising business prospect — and a political minefield. Local opposition, particularly from neighbourhood groups and city council members, has already started brewing.
Steve Cohen’s Queens site faces a different challenge. His team is pushing for a casino on state-owned parkland. That would require legislation from Albany — and lawmakers have shown no urgency. The project could stall before it even begins construction.
Then there’s the race factor. Communities in the Bronx and Brooklyn argue they’ve been historically underinvested — and want their shot at one of the licenses. That adds even more complexity to an already crowded field.
Who’s Betting What? The Contenders and Their Visions
A quick look at the most ambitious proposals shows how high the stakes have become:
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Freedom Plaza (Manhattan): Backed by Soloviev Group and Mohegan, promises 4-star hotels, green spaces, a democracy museum, and yes — 4.2 billion in annual revenue by 2034.
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Queens Casino (Steve Cohen): Near Citi Field, this pitch includes an entertainment complex with a casino, park upgrades, and community investment. Target revenue? $3.9 billion by year three.
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Hard Rock/Yonkers Expansion: Already operating with limited gaming, this one’s banking on expansion — and familiarity — to lock in a quick approval.
There are others, too. Each with different strengths. Each aiming to walk the fine line between bold economics and neighbourhood approval.
How These Forecasts Stack Up Globally
Let’s compare a few top performers around the world. The chart below shows projected revenue from New York proposals against some of the world’s most profitable casinos:
| Casino Name | Location | Annual Revenue (USD) | Source |
|---|---|---|---|
| Marina Bay Sands | Singapore | $4.2 Billion | Las Vegas Sands (2023) |
| Freedom Plaza (Projected) | Manhattan, NYC | $4.2 Billion (Year 10) | NYS Proposal Summary |
| Queens Casino (Projected) | Queens, NYC | $3.9 Billion (Year 3) | NYS Proposal Summary |
| Bellagio | Las Vegas | $1.4 Billion | MGM Resorts (2022) |
| Galaxy Macau | Macau | $3.5 Billion | Company Filings (2023) |
If projections hold, both NYC casinos would land in the global top five. That’s no small feat for developments that haven’t even broken ground.
Beyond the Glitz — What’s Really at Stake?
It’s not just about who makes the most money. These bids are promising community investments, job creation, and transformation of urban spaces.
The Freedom Plaza project, for example, includes 4.77 acres of public green space and a $100 million contribution to local arts and education. Steve Cohen’s Queens plan features millions earmarked for park restoration, affordable housing, and small business support.
But critics aren’t convinced. Community groups have flagged gentrification concerns, traffic nightmares, and questions about whether casino jobs are the kind of long-term economic boosts New York needs right now.
Still, the bidders aren’t blinking. They’re betting New York wants what Vegas and Macau already have: status, spectacle, and serious revenue.
Timing, Tension, and the Road Ahead
The state gaming board isn’t expected to award licenses until sometime in 2025 — maybe even later. That gives local lawmakers, unions, and community groups plenty of time to weigh in.
No one’s guaranteed anything yet. And delays are likely.
But for the developers already touting billion-dollar projections, this is more than a numbers game. It’s a chance to redefine what a casino means for a modern city.
That’s not just high-stakes. That’s New York.
