New York sets multimillion-dollar requirements for casino licences in the metropolitan area
The gaming industry in New York is experiencing a decisive week following the announcement of new financial requirements for the granting of casino licences. The Gaming Facility Location Board of the New York State Gaming Commission unanimously approved two key conditions for applicants seeking one of three licences available in the southern part of the state, including the coveted New York City metropolitan area.
Financial conditions and tight deadlines for casino operators
The Gaming Facility Location Board established that each applicant must pay a licence fee of $500 USD million in addition to committing to a capital investment of another $500 USD million. This financial barrier, one of the highest in the sector’s history in the United States, aims to ensure that only the most solid and committed operators can participate in the industry’s expansion process in the region.
The deadline for submitting applications is 27 June, leaving interested parties less than two weeks to meet all the requirements. The Commission expects to grant licences before the end of the year, although projects will have to meet a number of additional requirements before they are eligible.
Urban planning requirements and community participation
In addition to the economic requirements, operators must ensure that all procedures related to zoning, land use, and environmental reviews are completed by 30 September. These procedures, especially those related to zoning, represent a considerable challenge due to the tight deadlines and accelerated review processes in most local governments.
A key element of the process is the involvement of Community Advisory Committees (CACs), which will evaluate each proposal to gauge community support and feedback. These committees have the power to hold several public meetings, and their vote is binding: only proposals that achieve a two-thirds qualified majority will be able to move forward in the selection process. The composition of each CAC varies depending on the project’s location; for those within New York City, members will include Governor Kathy Hochul, Mayor Eric Adams, and state and local representatives for each district.
Overview of the leading contenders and recent withdrawals
Currently, eight operators remain in the running for the three available licences. Notable participants include Caesars Palace Times Square, Freedom Plaza in Queens, Metropolitan Park near Citi Field, MGM’s Empire City in Yonkers, and Resorts World at Aqueduct. Of all the projects, only MGM’s Empire City is located outside the five boroughs of New York City.
However, the competition has lost two of the industry’s biggest names. Wynn Resorts abandoned its casino project in Hudson Yards, Manhattan, in May, citing local resistance to its proposal. A month earlier, Las Vegas Sands withdrew from the process to obtain a licence at the Nassau Coliseum site on Long Island, citing uncertainty about the future of the market and negotiations surrounding the possible legalisation of online gambling in the state. Saks Fifth Avenue also considered competing but withdrew in April.
Why is New York the centre of gambling news this week?
The gaming industry’s attention has turned to New York this week due to a combination of unprecedented financial requirements, tight deadlines and active community involvement in the selection of new casinos. The casino licensing process in the metropolitan region is viewed as a model that could influence other states, particularly due to its transparency and rigorous project evaluation.
Below are the main regulatory and governmental issues related to the gaming industry in New York:
- Financial requirements: A licence fee of $500 USD million and a capital investment commitment of another $500 USD million for each casino applicant in the southern part of the state.
- Tight deadlines: Applications must be submitted by 27 June, and urban planning and environmental procedures must be completed by 30 September.
- Community involvement: Mandatory evaluation by Community Advisory Committees, with binding votes and diverse composition depending on the location of the project.
- Withdrawals by major operators: Wynn Resorts and Las Vegas Sands withdrew from the process, reflecting the high competitiveness and regulatory challenges of the New York market.
The gaming industry in New York continues to set trends in the market, and the coming months will be crucial in defining the new landscape of the sector in the metropolitan region.
This article was first published in Spanish on 19 June 2025.
