Bally's $4 billion proposal to build a casino in the Bronx moved forward this week after securing a pivotal community advisory committee vote. The Rhode Island-based company won approval 5-1, ensuring that the project will advance to the final round of New York's competitive casino licensing process.
Key Takeaways
- Bally's Bronx casino proposal advanced with a 5-1 community committee vote, making it the first new bid to reach the final licensing stage.
- The $4 billion project overcame political hurdles, including City Council opposition and controversy tied to a Trump family payout.
- Bally's boosted its community benefits pledge to $15 million annually, which helped secure local support.
The committee's decision positions Bally's alongside two racetrack-casinos, MGM Empire City in Yonkers and Resorts World in Queens, as contenders for one of three state licenses expected to be awarded by year's end.
Bally's plans to build its casino at the former Trump Links golf course at Ferry Point Park. It would feature a 500-room hotel and 500,000 square feet of gaming space. The project faced obstacles earlier this year when the City Council blocked required land-use approvals, only for Mayor Eric Adams to revive it by issuing a rare veto in August.
Further controversy emerged after reports revealed that the Trump family business would receive $115 million if the site were developed into a casino. Despite that, Bally's managed to sway local leaders by raising its community benefits package to at least $15 million annually, up from $12.5 million, and committing to partner with the city Parks Department on improvements to Ferry Point Park.
Committee members in favor of the project emphasized job creation and economic opportunities in the Bronx, New York's poorest borough. The lone dissenter, Danielle Volpe, who was appointed by Councilwoman Kristy Marmorato, cited traffic concerns and the loss of public parkland as reasons for her opposition.
Cohen's Queens Casino plan heads to vote
Bally's advancement now sets the stage for Steve Cohen's $8.1 billion Queens casino project, which is preparing for its community advisory committee vote. The New York Mets owner, along with Hard Rock Entertainment, is pitching Metropolitan Park, a large-scale casino and hotel complex on Citi Field's 50-acre parking lot.
With limited neighborhood opposition, the bid is expected to pass its review and enter the final round, where analysts see it as a leading contender for one of the three licenses.
Metropolitan Park's projected economic impact far surpasses Bally's Bronx bid. By its third year, the project is forecasted to generate $3.9 billion in gaming revenue and $850 million in tax contributions for the city and state, more than double Bally's projected $357 million.
The project nearly collapsed earlier this year when state Sen. Jessica Ramos refused to sponsor legislation to allow redevelopment of the parking lot, which is legally designated as parkland. The effort was revived when Sen. John Liu agreed to sponsor the bill in exchange for Cohen's commitment to consider building an elevated park linking Citi Field to Downtown Flushing.
This political compromise revived the bid and positioned it to advance smoothly in Tuesday's vote.
