Two state lawmakers, Senator Joseph Addabbo and Assemblyman Gary Pretlow, are advocating for a bill that would accelerate the timeline for awarding casino licenses in the New York City area. The proposed law would require bids to be submitted by July 31 of this year, with the gaming commission approving three casino licenses by March 31 of the following year. This is in response to the current timetable, which sets the awarding of licenses on December 31, 2025, sparking criticism from industry insiders.
A more extended timeline is seen as beneficial for bidders facing political hurdles or ongoing zoning and land-use issues. Some of the bidders experiencing challenges include Mets owner Steve Cohen, who plans to build an $8 billion casino near Citi Field in Queens, and the Related Companies/Caesars with a proposed $12 billion complex in Hudson Yards in Manhattan. Shortening the timeline could give an advantage to existing slots parlors like Resorts World and MGM Empire City, who are looking to expand their offerings to include live card table games.
Both Addabbo and Pretlow claim they are not trying to influence the outcome to favor any specific bidder but rather aiming to speed up the process to create jobs and generate revenue for the state. They point out that the delays are causing a hold on approximately 5,000 jobs. Each winning bidder would be required to pay the state an upfront license fee of at least $500 million. The proposed bill gives the winning bidder two years to address any legal or land-use issues before obtaining a license.
Concerns have been raised about hurdles facing major bidders, such as the need for legislative approval for Steve Cohen’s proposed casino near Citi Field in Queens. State Sen. Jessica Ramos, representing the area where the casino would be located, has not supported the project so far. Assemblyman Pretlow, who represents a district near the Yonkers racino, is frustrated with the slow-moving process, emphasizing the potential loss of revenue for the state. Governor Kathy Hochul, responsible for overseeing the gaming commission, has not made a clear decision on whether to speed up the licensing process.
Various other casino plans are in the works, including SL Green/Caesars/Roc Nation in Times Square, Bally’s in The Bronx, Silverstein Properties in Hell’s Kitchen, and the Thor Equity consortium along the Coney Island boardwalk. The proposed bill to fast-track casino licenses will be reviewed by Governor Hochul, who is up for re-election in 2026. The lawmakers hope that by expediting the licensing process, they can create economic opportunities, jobs, and additional revenue for the state.
