Rolling the dice: Who will win three coveted New York City-area full casino licenses? amNewYork
Licenses will be good for a minimum of 10 years and a maximum of 30 years. Without question, the three winning bids will have the potential to reshape the socioeconomic landscape of the New York City metro area. “Neither the arena nor the casino gambling are yet in the cards (in Irving), and it does not appear that the Texas Legislature, particularly the Texas Senate, is going to approve casino gambling this year. So, they’re just getting the conversation started that might go on for years,” Jillson said. Get top local stories in DFW delivered to you every morning with NBC DFW’s News Headlines newsletter.
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Resorts World’s expansion plan includes the creation of a new 50-acre park on the Aqueduct Racetrack site, as well as a 7,000 sq. Each project is to be reviewed by a local group — known as a Community Advisory Committee — which must sign off on it. Each committee consists of six people, with the governor, mayor, the local state senator, local state assembly member, the borough president and the local city council member each appointing a representative. Like an exclusive, high-stakes game of Texas Hold’em, the process has been reserved for the uber-wealthy — with an applicant needing more than $1 billion just to be in the running. The ante to merely apply is $1 million, with successful bidders required to pay $500 million upfront for the license and at least $500 million as part of a development plan.
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Las Vegas Sands wins key vote for Irving resort project, but casino dreams face uphill battle
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The commission approved the rezoning of two developments including the land of the former Texas Stadium. The mixed-use developments for a resort include restaurants, retail shops, pools, a hotel, and an arena. However, much of the debate centered around the possibility of a casino.
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Still, The Coney project has had a difficult time winning over local residents. In January, local Community Board 13 recommended denial of the application, with residents skeptical that Thor Equities would come through with its promises of $200 million in community investment. Rolled out last June, the plan also includes $250 million in community reinvestment to support businesses and groups in Midtown and nearby Hell’s Kitchen. Both Resorts World NYC and MGM Empire city are likely to have little community resistance, pundits say, and would be able to convert to a full casino relatively quickly. Furthermore, they have the infrastructure needed for expansion, with parking and access to highways.
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