NEW YORK / LONDON (IT BOLTWISE) – The New York Gaming Facility Location Board’s decision has thrown the gaming industry into turmoil. Billionaire Steve Cohen and major companies like Bally’s and Resorts World have won coveted casino licenses for New York City. This development could permanently change the city’s gambling scene and have a significant economic impact.
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The New York Gaming Facility Location Board recently announced its recommendations for issuing casino licenses in New York City. Winners include billionaire New York Mets owner Steve Cohen, as well as gambling giants Bally’s and Resorts World. This decision marks a significant step in a years-long battle for the coveted licenses, which was accompanied by heated arguments and protests.
Steve Cohen is planning an ambitious project in Queens in collaboration with Hard Rock International. The proposal calls for an investment of $8.1 billion to transform the site next to Citi Field into a comprehensive entertainment center. A casino, a hotel, a conference center and an extensive park are planned. This development could not only boost the local economy, but also increase the attractiveness of Queens as a tourist destination.
Bally’s also has big plans for the Bronx. The company is planning a $4 billion casino resort that will be built next to a golf course. The project includes a casino with 3,500 slot machines, 250 table games and a luxury hotel. This investment could generate significant tax revenue for the state and establish the Bronx as a location for major events.
Resorts World, which already operates a successful casino in Queens, plans to expand its offerings at the Aqueduct racetrack location. With an investment volume of 5.6 billion US dollars, the existing racino will be converted into a comprehensive resort. This development could further solidify Resorts World’s position as the leading casino in the United States.
However, the Gaming Facility Location Board’s decision has also created losers. Companies like MGM and Wynn Resorts have pulled out of the race after deeming economic conditions unfavorable. Despite these setbacks, New York City remains an attractive market for the gaming industry as the city is home to one of the largest and wealthiest populations in the country.
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