New York Gaming Update - April 2024

The state Gaming Commission indicated last month that it likely won’t start accepting applications in the high-stakes casino bidding war until the City Council approves a land use change necessary to build a casino in the five boroughs. The state commission previously said it would also not begin considering those applications until state-appointed advisory committees meet to evaluate the bids. This pivot means casino licenses won’t be awarded for many more months, if not longer — much to the dismay of gaming applicants.

In 2022, the New York State Legislature passed a law to expedite the process with the hope that the bidding would have started last year. At the very least, the regulatory body suggested it will not open the bidding process until the approval of a citywide zoning change, which could happen in the coming weeks. The Commission could wait on accepting applications until some bids obtain additional zoning approvals — like state legislation or city zoning modifications — specific to their projects. “The Board is cognizant of the many factors relating to the zoning requirement, including New York City’s proposed text amendment relating to gaming facilities and of the many zoning-related questions posed by applicants during the first two rounds of questions,” reads a statement from the Gaming Commission, referencing the powerful Gaming Facility Location Board, which will ultimately award the licenses. “The updated timeline, expected to be finalized soon, will consider these and other factors.” Each project must first get sign-off from ad hoc casino boards appointed by state and city leaders for their applications to be considered. None of those boards have even been set up yet. “The Gaming Facility Location Board will provide applicants a reasonable amount of time to obtain zoning approval for their proposed projects – a statutory requirement for Board consideration,” the gaming commission said in a statement to POLITICO.