Some local groups have spoken against bringing one to Times Square.
“We’re doing a New York project.”Ī common criticism from casino opponents is that gambling venues don’t generate consumer spending but merely siphon it from other establishments. “Everybody else is doing a Vegas project,” he said. The Real Deal took a look at the players going all-in. Some developers have put some cards on the table, while others have yet to show their hands. If the City Council member is not on board initially, a proposal may face trouble later on, given that it would likely need to go through the city’s land use review process.ĭetails on individual proposals are incomplete, given that the state has not yet released a request for applications. Manhattan is where the most money is, but has historically been a hard sell because few Manhattanites want a casino.Īpprovals hinge on local support. The remaining license does not have to go to the city, just downstate. Regulators may favor two sites that already have gambling - Aqueduct Racetrack and Yonkers Raceway - because the application provides a “speed to market” bonus, said James Featherstonhaugh of Saratoga Casino Holdings, which is working with Joe Sitt's Thor Equities on a Coney Island bid. Technically, three licenses are up for grabs, but only one is likely truly in play.
