After many years of lobbying and politicking, as well as millions of dollars already spent, this week the state of New York finally licensed three new large-scale casino resorts for the downstate area around New York City. Bally’s Bronx, Metropolitan Park and the existing limited casino Resorts World New York have all been granted a license to operate full scale Las Vegas-style gambling resorts in the state. So what’s the deal for prospective gamblers, and what happens next?
This article will look at the three successful applicants, who is behind them, and what they’re going to offer visitors as well as New Yorkers who live nearby. It will also discuss the application process, now that the dust has settled, and then a look at the future of the market and when doors are expected to open. This is what you need to know about the three upcoming New York casino resorts.
The Three Winners Announced – Who’s Running the Show?
On Monday, the New York Gaming Commission met for the final time in 2025 and officially approved the three licenses. The winning bidders had navigated a narrowing field that started out with a dozen competitive entries in mid 2023. The winning bidders are:
- Bally’s Bronx, on the former Trump Golf Links in at Ferry Point
- New York Mets owner Steve Cohen and Hard Rock’s Metropolitan Park near Citi Field baseball stadium in Queens
- Malaysian-based Genting Group’s Resorts World New York City, which has existing but limited gambling via horse racing and bingo machines
While these casinos can’t match the slot collection of a top online casino like Jackpot City, the new venues will have thousands of slot games and hundreds of table games between them. As well as all sorts of other amenities, from hotels to spas to concert venues.
Resorts World New York City was considered a favorite to gain a license from the start. However, that was cast into doubt when the operator was fined millions in Nevada for allowing money laundering to take place under its nose at its Las Vegas casino resort. Joint favorite, Las Vegas based MGM’s bid to extend its limited gambling resort in Queens, also failed when it dropped out of the final four.
Bally’s bid was the outsider, but it was favored by outgoing New York Mayor Eric Adams who twice used his political clout to save the project when it stumbled at the local approval level.
Bally’s bid is also notable as the Rhode Island-based operator now owes President Donald Trump’s Trump Organization $115 million. It purchased the former Trump Link’s golf course as a prospective site for its casino and the deal included a bigger pay-out for Trump if Bally’s received a casino license.
What Will These Casino Resorts Look Like?
The most impressive (and expensive) of the three winning casino projects will be probably be Metropolitan Park. The $5.3 billion venue is backed by local billionaire Cohen who is one of the richest men in the world. Which should be useful, seeing as the license fee alone is $500 million.
Metropolitan Park will repurpose 50 acres of parking lots at the Citi Field stadium, building a huge Hard Rock Hotel and Casino, alongside restaurants, bars, shops, a music venue and a food hall.
The project will also 25 acres of public green space, a revamped Metro station and 23,000 jobs across construction and permanent operation. It aims to create a year round sports and entertainment destination, Cohen has repeatedly said.
Bally’s $4 billion Bronx casino resort will be the largest single private investment in the borough’s history. Bally’s ambitious project has included tens of millions in community benefits, including public transit upgrades, public parkland and even a community housing block.
Bally’s is heavily leveraged (read, in debt) and is banking on this and it’s upcoming $1.8 billion downtown Chicago casino to pay off big time.
Resorts World, despite already having a casino (ish) resort venue, plans to expand its 72-acre site. And its planning to spend $5.5 billion turning into a full Las Vegas-style venue.
The Application Process in Retrospect and Completion Timeline
The process actually began in 2013, when voters authorised the state to allow four upstate casinos and three downstate. The latter licenses were put on hold for a decade, in order to give the smaller, less urban upstate casinos time to build up a customer base before facing significant competition.
Twelve years later, there are now three approved casinos ready to start construction. Notable companies and projects that dropped out along the way included:
- Las Vegas Sands’ bid to return to US operations with a casino resort on Long Island
- Caesars Entertainment and Jay-Z’s plan to build a casino in Times Square
- Billionaire real estate Larry Silverstein’s proposal for a new skyscraper casino
- Las Vegas-based Wynn Resorts’ ambitious plan to transform the Hudson Yards railway site
The three winning operators, Bally’s, Cohen and Hard Rock and Resorts World, will be expecting to bring in billions a year once fully operational. Market analysts predict it could rival Las Vegas in size in a few years, as well as putting the nail in the coffin of Atlantic City’s casinos.
The first project to open will be the first phase of Resorts World’s upgrade, which should open in late 2026. The other two casinos won’t be opening anything until at least late 2027.
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