The Big Gamble: Inside The Battle to Operate A Casino In New York City
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New York has begun the formal process to license up to three casinos in and around the city's five boroughs. The state already has four casinos, but those are all a few hours away upstate. There is a minimum licensing fee of $500 million and a competitive licensing process with only three spots available.
Robert Goldstein, who replaced Adelson as CEO of Las Vegas Sands in 2021, said they "remain a believer" in the New York market. MGM owns the Empire City racino in Yonkers and several properties in Las Angeles. Hard Rock, which is owned by the Seminole Tribe in Hollywood, is also pursuing the Big Apple. Steven Cohen, the billionaire hedge fund founder and the owner of the NY Mets, has been discussing the possibility to develop a casino with Hard Rancher near CitiField in Queens. New Yorkers want to see a new casino. The New Jersey Public Affairs Group says Empire and Resorts World are the front runners for two of three new licenses.
