The New York State Gaming Facility Location Board has announced its timeline for awarding casino licenses in New York City and its surrounding suburbs.
The glacial pace of the New York State Gaming Commission’s efforts to approve three casino licenses in the New York City area has minimized media attention on what could be the eventual opening of some of the largest gambling sites on Earth.
The Licensing Process
- Applications for the coveted licenses will be due by June 27, 2025.
- Nearly a dozen applicants are vying for up to three available licenses to build full-scale casinos in New York City, Long Island, and Westchester.
- The board will make a decision by December 1 of next year and license the projects by December 31.
Billionaires and Casino Ventures
The timeline sets the clock for potential applicants, including billionaire and Mets owner Steve Cohen, to obtain necessary legislative approvals needed for his plan to build an $8 billion casino and entertainment complex next to Citi Field in Queens. The allure of downstate New York casino licenses is undeniable, as they represent a “license to print money, literally,” according to insiders close to several of the bidders.
As the race heats up, eleven major groups are in the hunt for the right to build a casino in the heart of New York City. The state’s gaming commission is expected to award up to three permits next year, and the stakes couldn’t be higher.
