Asian casino giants join bidding war for downstate NY licences
Three well-known casino operators with roots in Asia have entered the race for one of three commercial casino licences in downstate New York. A total of eight bidders, including Genting Group, MGM Resorts, and Mohegan Gaming, submitted proposals by the official deadline, hoping to win approval from state and local regulators.
Genting proposes $5.6B upgrade in Queens
Malaysia-based Genting Group, which already operates Resorts World New York City in Queens, has submitted a bid to expand the existing property into a full-scale integrated resort, as per GGR Asia.
According to Genting, its 5.6 million-square-foot project will feature a 500,000-square-foot gaming floor with 6,000 slot machines and 800 table games. The group also plans to add 2,000 hotel rooms, a 7,000-seat entertainment venue, over 30 food and beverage outlets, large-scale meeting facilities, and more than 10 acres of public green space.
The company said the expansion would support an estimated 5,000 union construction jobs and attract visitors from across the tri-state area and beyond, including the 63 million annual passengers passing through nearby JFK Airport.
MGM plans Yonkers expansion
MGM Resorts International, which owns the Empire City Casino in Yonkers, submitted a bid to convert its current electronic gaming facility into a full casino. The company has proposed a US$2.3-billion investment to upgrade the venue with new gaming options, hotel space, and entertainment facilities.
MGM is also the parent company of Macau-based operator MGM China Holdings Ltd. Its proposal focuses on revitalising the Yonkers property to offer a broader range of amenities and create thousands of local jobs.
Mohegan eyes Manhattan casino
Mohegan Tribal Gaming Authority, known globally as Mohegan Gaming, has proposed building a brand-new casino in Manhattan.
The group developed Inspire Entertainment Resort in Incheon, South Korea, which includes a foreigner-only casino. Although that project is now managed by lender Bain Capital, Mohegan remains active in international casino development and sees New York as a major strategic market.
Bally’s targets the Bronx
U.S.-based Bally’s Corporation, which is also involved in a rescue bid for The Star Entertainment Group in Australia, has submitted plans for a new casino in the Bronx.
Details of Bally’s project remain limited, but the company confirmed its participation and intent to meet the state’s capital and licence fee requirements.
High stakes and stringent terms
The New York Gaming Commission began accepting applications in January 2023, setting a minimum of US$1 billion in total investment per project. Of that, US$500 million must be paid upfront as a licence fee within 30 days of approval.
Successful bidders will be awarded casino licences valid for 10 to 30 years, depending on the level of investment. The Gaming Facility Location Board and other local authorities will now evaluate all proposals.
Major operators exit the race
Notably, some major global casino brands have withdrawn from the competition. Wynn Resorts, which owns Wynn Macau Ltd, announced in May it would not bid for a New York licence. Similarly, Las Vegas Sands, parent of Sands China Ltd, exited the process in April.
Final decisions on the winning bids are expected to be announced after a thorough review and community consultations.
