NY Senator Urges Quick Approval of Casino Licenses Following MGM’s Withdrawal

Senator Calls for Accelerated Casino License Approvals in New York
New York State Senator Joseph P. Addabbo Jr. has urged the Gaming Facility Location Board to expedite the approval process for downstate casino licenses. His appeal comes after MGM Resorts International unexpectedly withdrew from the bidding race. As chair of the Senate Committee on Racing, Gaming, and Wagering, Senator Addabbo emphasized that any delays might hinder crucial construction projects, job creation, and revenue generation for public services.
MGM Exits $2.3 Billion Yonkers Casino Project, Leaving Three Finalists
MGM’s decision to exit the competition surprised many, including Senator Addabbo, who had regarded the company as a leading contender. The withdrawal was reportedly influenced by proposed regulatory changes reducing license terms from 30 years to 15 years, which would require licensees to reapply for renewal and incur additional costs. MGM had planned a $2.3 billion expansion of its Empire City Casino in Yonkers but cited market saturation and projected diminished returns as reasons to step back.
With MGM no longer competing, three entities remain vying for downstate casino licenses. Genting Group intends to develop Resorts World at Aqueduct Racetrack in Queens, Bally’s is proposing a casino at the former Trump Golf Links location in the Bronx, and Steve Cohen, in partnership with Hard Rock International, plans an $8 billion “Metropolitan Park” casino near Citi Field. Senator Addabbo highlighted the wisdom of promptly awarding licenses to these remaining bidders given the current landscape.
Push for Timely Casino Decisions to Sustain Economic Growth
The five-member Gaming Facility Location Board, led by former New York City Deputy Mayor Vicki Been, aims to announce its decisions by December 1. The panel comprises specialists in legal, financial, and community planning fields who have rigorously evaluated each proposal’s financial viability, community impact, and long-term potential. Been has noted that only projects with substantial community support and clear local benefits will be approved.
Each casino license requires a one-time fee of $500 million and authorizes comprehensive casino operations, including table games, slot machines, and in-house sports betting. Industry analysts regard New York as one of the nation’s most lucrative gaming markets, with the winning proposals expected to attract billions in private investment and generate thousands of jobs.
Senator Addabbo, a longtime advocate for casino expansion, warned that postponements could stall economic progress and erode public confidence. He played a key role in the 2013 legislation that legalized commercial casinos in New York and supported subsequent measures to accelerate the licensing process.
The final approval will be made by the Gaming Facility Location Board alongside the New York State Gaming Commission, with decisions anticipated by the end of the year. If the timeline holds, construction could begin as early as 2026, marking a significant development in New York’s entertainment and tourism sectors.