New York regulators will announce the winners of up to three downstate New York casino licenses in the next two months, capping a multi-year effort for what is one of the most coveted opportunities in gambling industry history. After MGM Resorts unexpectedly dropped what seemed like a sure bet for a license, the fate of the three remaining finalists remains uncertain.
Key Takeaways
- Final three NYC casino contenders: Resorts World, Hard Rock Metropolitan Park, and Bally’s Bronx submitted final proposals for up to three downstate New York casino licenses, following MGM’s unexpected withdrawal.
- Resorts World leads in scale, revenue: Plans for a 5.6M sq. ft. casino with 6,000 slots and 800 table games, projecting up to $4B annual gross gaming revenue by 2031 and offering the highest tax rates among applicants.
- Hard Rock & Bally’s focus on development, community impact: Hard Rock aims for an $8.1B casino-entertainment district near Citi Field, generating roughly $4B annual revenue, while Bally’s plans a $4B resort in the Bronx, with 3,500 slots and 250 table games, projecting $370M in annual tax revenue.
Resorts World New York City as well as the proposed Bally’s project in The Bronx and Hard Rock casino in Queens submitted additional paperwork this week reaffirming their interest in a license. It remains to be seen how many will earn a license that could make their properties among the highest-grossing casinos in the nation.
Here’s the final pitch from the three remaining candidates.
Resorts World
Along with MGM’s Empire City Casino in Yonkers, Resorts World’s existing racino near JFK Airport in Queens seemed like the safest bet to earn a license. With just slots and electronic table game variations, and without a sportsbook or poker room, Resorts World’s location has still made it the nation’s highest-grossing casino, ahead of every property along the Las Vegas Strip.
MGM dropping out so late in the process, citing increased geographic competition from the final bidders, has led to speculation that Resorts World could reconsider its proposed $7.5-billion investment when submitting its bid. An executive summary filed this week indicates Resorts World expects to continue the push for a full-scale casino license, arguing it will generate the highest gross gaming revenue regardless of competition.
Resorts World expects the full casino property will generate as much as $4 billion in annual gross gaming revenue by 2031 if it is the only casino to earn a bid. It wrote to the license determination board that it would still generate more than $3 billion in annual GGR even if all three licenses are awarded.
Resorts World NYC plans to offer 6,000 slot machines and 800 table games across a 500,000 square-foot casino if awarded a full casino license, per its application; these totals would all be significantly larger than any existing casino along the Las Vegas Strip
— Ryan Butler (@ButlerBets) October 17, 2025
Upon completion, the property would span 5.6 million square feet across 73 acres, including a 500,000-square-foot casino, nearly three times the size of the MGM Grand in Las Vegas. The property would have 6,000 slot machines and 800 table games, both more than any offered along the Strip.
The company would also voluntarily pay an extra $100 million on top of the required $500 million for a license, per its most recent application documents. Resorts World would pay a 56% tax on slots and 30% on table games, both the highest totals of the remaining applicants.
Resorts World expects to open the revamped casino property in 2026. In filings, the company said this gave it another advantage over the two other applicants, which would need years to build their properties from the ground up.
Hard Rock Metropolitan Park
The project led by the Seminole Tribe of Florida and New York Mets Owner Steve Cohen would “transform” empty parking lots near the team’s Citi Field into a full-scale casino, hotel, park, and entertainment district.
The $8.1-billion project expects to generate $33.5 billion in tax revenue over an anticipated 30-year license. The license duration could be a key factor in Hard Rock’s interest; MGM cited its inability to secure a 30-year term from the state as a key determinant in its withdrawal.
The company estimates nearly $4 billion in annual revenue by the third year of operations after the project is completed, which would generate more than $850 million in taxes each year.
Hard Rock offers a 25% tax rate on slots and 10% on table games. It plans for 5,000 slot machines and roughly 400 table games across nearly 300,000 square feet of gaming space. The latest summary documents also include plans for a nearly 20,000 square-foot Hard Rock retail sportsbook.
The company’s application includes sweeping plans for a revitalization of 50 acres of land surrounding the baseball stadium. Plans call for a 1,000-room hotel, entertainment venues, food halls, and a public plaza.
Though the first bet wouldn’t be placed for several years, the application stressed the project is “shovel ready.” Financing, planning, and leases have already been completed, allowing construction to begin as early as January 2026.
Bally’s Bronx
After it was initially rejected by an area zoning board, Bally’s is the most surprising of the three candidates to advance to the final stage. The bid was revived by New York City Mayor Eric Adams’ veto of the community board rejection, but still seemed to face long odds against the MGM bid in Yonkers less than 10 miles away.
After MGM dropped its bid, Yonkers Mayor Mike Spano asked New York Gov. Kathy Hochul to investigate the licensing process. President Donald Trump’s business organization will receive more than $100 million if Bally’s wins one of the bids.
The overall bid projects more than $4 billion to turn part of the property surrounding a golf course in the Bronx’s Ferry Point into a full-scale resort casino with a hotel, conference rooms, restaurants, and events space. The company will also revamp the adjacent golf course.
Bally’s would install 3,500 slot machines and 250 table games. The latest documentation did not publicly disclose a proposed tax on the games.
The company projects $370 million in annual state and local tax revenues upon completion.
