The future of legislation aimed at expediting the bidding process for three casino licenses in the New York City area is uncertain. Less than three weeks remain in August, making the bill's goal of opening the window for proposals by the end of this month seem improbable.

Even more concerning for the proposal is the fact that Governor Kathy Hochul (D-NY) has not given the bill her official support. Gaming businesses would have had until the end of July to submit applications for the three downstate permits if Sen. Joseph Addabbo (D-Queens) and Assemblyman Gary Pretlow (D-Mount Vernon) had not introduced bills in their respective chambers in May. The deadline was rescheduled for August 31st, although if it had been accepted, the winning bidders could have been chosen by the middle of 2025.

The writing is on the wall, according to industry insiders and New York political observers, even though Hochul hasn't stated outright that she won't sign the law. There isn't enough time for gaming operators to prepare plans for what would presumably be some of the most expensive casino hotels in US history, even if the Addabbo/Pretlow legislation was enacted soon.

Unsettling Prognosis for Accelerating NYC Casino Bids

It now seems improbable that Hochul would take action on the bill before the end of this month, even as Pretlow admitted to Newsday.

The CEO of the Soloviev Group, Michael Hershman, repeated a well-worn theme when he told Newsday that the expedited licensing law is currently a "moot point." The Soloviev Group and the massive tribal casino operator Mohegan are collaborating on a planned gaming establishment next to the UN headquarters on Manhattan's East Side.

Since the New York Gaming Facility Location Board is currently targeting June 27, 2025 as the deadline for applications, competitors would probably applaud an early beginning of the bidding window. Immediately following that, "Community Advisory Committees (CACs) will form and begin their statutory work."

"The Board expects to make decisions by December 1, 2025, followed by Commission licensure by December 31, 2025. This ensures that New York State will collect the already-booked casino license fee(s) ahead of schedule,” according to the board.

If that timeframe is followed, 2026 would be the earliest possible year to break ground on new gambling establishments; however, it would take a few years before they are completely functioning.

Why It Makes Sense to Process Casino Licenses in NYC Quickly

New York is losing out on millions of dollars in application fees and $500 million for each winning bidder—a sum that some analysts predict might reach $1 billion per license—by not acting quickly to expedite the licensing process.

If the three downstate casino licenses are finally approved by the end of 2025, MGM Resorts International's Empire City Casino in Yonkers and Genting's Resorts World New York in Queens might get an advantage over a third competitor, provided that those locations are chosen for two of the licenses.

Both of those establishments are among the highest-grossing regional casinos in the nation and are now solely offering slots. If Genting and MGM receive standard casino licenses, as the operators have promised, they will likely be able to add some table games and other amenities without having to significantly interrupt daily operations.