There are four surviving bidders for the downstate New York City-area casino licenses facing a 4 p.m. deadline today to submit crucial tax and financial information to state regulators.
The tax rates are part of a “blind bidding” process where bidders submit confidential tax rate proposals to the New York State Gaming Facility Location Board for evaluation, and these proposals have not been disclosed to the public as of now. The state uses these tax bids as a key criterion in awarding up to three licenses among the four finalists.
The four remaining NYC casino bidders are competing for up to three available licenses, with the selection expected to dramatically reshape New York’s gaming landscape by year’s end.
The four surviving bidders for the New York City-area casino licenses and their proposed locations are:
Location: Aqueduct Racetrack, Jamaica, Queens
Resorts World, already operating a racino at Aqueduct, proposes to expand into a full-scale casino resort with slot machines, live table games, a hotel, and entertainment venues.
Location: Yonkers Raceway, Yonkers, Westchester County (just north of the Bronx)
MGM’s bid seeks to convert the current Empire City racino into a comprehensive casino destination with expanded gaming floors, table games, and resort amenities.
Location: Ferry Point, Bronx
Bally’s proposes transforming the former Trump Golf Links at Ferry Point into a casino complex, leveraging a waterfront setting near the Whitestone Bridge.
Location: Adjacent to Citi Field, Queens
Spearheaded by Mets owner Steve Cohen in partnership with Hard Rock, this $8 billion proposal would develop a casino and entertainment complex connected to the ballpark in the Willets Point area of Queens.
These four projects advanced past local reviews and are now vying for up to three available licenses, with today’s deadline for final tax and application details submission.
The 4 p.m. deadline requires each bidder to submit their supplemental application materials, including their proposed tax rate, to the New York State Gaming Facility Location Board for final consideration.
The tax-rate proposal is a crucial part of the “blind bidding” process, where:
By September 30, all finalists completed major entitlement steps, such as:
The Board will evaluate bids using the following benchmarks:
The Board’s timeline includes:
Each licensee will:
This final round of bidding emphasizes:
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