GGRAsia – Decision on downstate NY licences in late 2025: Commission

Decision on downstate NY licences in late 2025: Commission

Mar 27, 2024 Newsdesk Latest News, Top of the deck, World

A decision on whether to award up to three commercial casino licences on offer for downstate New York (pictured), in the United States, will in likehood not be made until “late 2025”. That is according to remarks by Robert Williams, executive director of the New York State Gaming Commission, during a public meeting on Monday.

Mr Williams said it would take until mid-2025 to clear regulatory hurdles, including zoning and environmental reviews, before a decision could be made.

The state’s gaming commission launched in January 2023 a request for applications (RFA) process for three casino licences in downstate New York. It outlined a US$1-billion minimum requirement for the licence fee and capital investment, with US$500 million payable within 30 days as the licence fee.

The relevant casino permits will be for a period of between 10 years and up to 30 years, depending on the size of investment pledged.

Large gaming operators with Asia venues are among those that have expressed interest previously in a bid for a New York downstate licence.

They include Malaysia’s Genting group; MGM Resorts International, which controls Macau operator MGM China Holdings Ltd; Wynn Resorts Ltd, parent of Wynn Macau Ltd; Las Vegas Sands Corp, with operations in Macau and Singapore; and Mohegan Gaming & Entertainment, which in November opened a tourism complex with foreigner-only casino at Incheon, South Korea.

Any would-be bidder for a downstate licence in New York would be “considered compliant with zoning” if they had been licensed “through the state process,” observed Mr Williams, adding that procedures had “formally commenced on November 27, 2023”.

He said, according to a transcript of the meeting: “I’ve been informally advised that navigating the New York City Uniform Land Use Review Procedure process will extend through the second quarter of 2025.”

Aside from zoning and community requirements, Mr Williams said there was a “third requirement” that would implicate extended timelines, namely the environmental review process.

“I believe that all parties considering making an application understand that they will be required to navigate an environmental review process,” he stated.

The executive said the environmental review and zoning processes “are unlikely to conclude before the first quarter of 2025,” resulting in a “commission licence consideration before the end of 2025”.

The Gaming Facility Location Board – responsible for selecting up to three additional casino applicants for the commission’s consideration – “is likely to meet in the couple next coming weeks to formally consider the timeline,” said Mr Williams.

He added that the commission’s staff “believes the timeline accommodates existing statutory requirements” for environmental reviews and allows sufficient time for local zoning approvals, “which will enable the best, most comprehensive plans for commercial casino development”.