New York’s Casino Race Narrows

New York has opened the door to full-scale casinos in the five boroughs. Since the State Legislature announced they would award three downstate casino licenses, an array of millionaires, celebrities, and political insiders have been staking bets in what’s seen as a high stakes gamble for New York City's future.

Last week, four of the bids for a casino license in Manhattan were voted down: Caesars Palace in Times Square, The Avenir in Hudson Yards in midtown west, The Coney in Coney Island, Brooklyn, and the Freedom Plaza near the United Nations.

But there are still players at the table, as four proposals remain in the race for the three gaming licenses.

According to Mark Conrad, a professor of law and ethics at Fordham University’s Gabelli School of Business where he is director of the sports business concentration. He said casino operators have likely wanted to enter the New York City market for a while given the density, population, and economic possibilities of the area.

Conrad observed that although the rise of digital sports betting has resulted in a higher tolerance for gambling, there has been strong community opposition to casino bids.

“There may be a disconnect between the ease of a mobile bet for sports and the traditional casino gambling that you find in the Las Vegases or Atlantic Cities of the world,” he said.

Historically, only certain kinds of gambling were allowed in New York State: race track betting, state-run lotteries and casinos belonging to Native American nations. That changed in 2013, when voters approved a ballot measure amending the state constitution to expand gambling, allowing for the creation of up to seven commercial licenses for casinos in the state.

Since then, four commercial casinos have opened in upstate New York. In 2022, the state legislature approved a process for awarding three of those licenses to the downstate area to stimulate economic growth.

Still, Conrad said, a casino’s proximity to sporting venues could help its chances of moving forward. Two of the current bids are pitched as extensions of racetracks in Queens and Yonkers. Conrad said these bids likely have the best shot of getting approval from local community boards.

“I think that’s easiest in many ways to expand, because of the proximity and the fact that the public is quite used to that,” he said. “The third license is going to be the interesting one.”

In contention for that third license is a bid for Bally’s Bronx, pitched for Ferry Point. The other is a proposal led by Steve Cohen, owner of the New York Mets, for a casino next to Citi Field in Queens.

Both bids received approval from their local board this week and will advance to the next stage in the competition. State gambling regulators expect to make their final decision in December.

Developers are offering millions in community investment to win over the local officials that have been voting on their casino bids. Bally’s Bronx offered to set aside $10 million in community funds per year for a decade. This money would be controlled by the local government and is intended to be spent on supporting things like schools and nonprofits near the new casino sites.

Conrad said real estate developers often offer amenities to the surrounding community, but the scale of these offers is different.

“They’re trying to extoll a certain kind of soft diplomacy,” he said. “And it shows you the incredible stakes that these companies have, or think they have, in getting these licenses and what it could do for their bottom line.”

Conrad said the ethical lines are hazy. “If it's a politician that's directly getting money, you gotta wonder if that crosses the legal line,” he continued. “If it's some community activists, well, you know, is that the price of doing business or not?”

Despite the promise of community investment, New Yorkers have been widely opposed to local casinos. A poll released by Tulchin Research last month reported that 67% of Manhattan's midtown residents do not want a casino in their neighborhood. While both midtown casino bids were voted down in recent weeks, the future is still uncertain for other neighborhoods across the city.

Conrad said that concerns are valid. He noted casinos could exacerbate existing issues like overcrowding.

“If New Yorkers think that Times Square is crowded, one should go to Las Vegas and see how crowded those streets can be on any given night,” he said.

With millions of dollars in potential investment, and communities watching closely, the stakes remain high. New Yorkers are expected to learn the outcome by the end of the year, when state regulators announce which bids will move forward.

This interview ran on the What's What podcast from WFUV News on September 30, 2025.