Three casino licenses approved for NYC area; here’s what we know

New York State's fiscal year 2023 budget has been signed into law. Up to three full casino licenses for New York City are on the way. The Class III licenses would allow poker, table games, slot machines and retail sports betting.

The 2023 budget accelerates the process to issue casino licenses. The bidding process for the licenses would have begun in 20 23.

NYSGC will appoint a six-member site review board to decide the location of the casinos. Board has to issue a request for applications within 90 days of appointing the majority of its members.

Mayor Eric Adams wants to secure at least two licenses for casinos in the five boroughs. He hopes it will boost the economy and tourism in NYC.

There has been buzz about prospective locations for the new casinos in New York City. Water Club in Kips Bay, Times Square and on top of Saks Fifth Avenue in midtown are suggested locations. Belmont Park in Long Island and Citi Field in Queens are also mentioned.

There were three casino licenses approved for NYC area. Staten Island has not been ruled out. The gaming commission and review board will determine the location/sites selected.

Gambling industry giants, such as Las Vegas Sands, Bally's and Wynn have expressed interest in buying into what Politico describes as the largest untapped casino market in the U.S. Hard Rock Hotel slated to open this month in Times Square is not one of the sites under consideration.

MGM's Empire City Casino in Yonkers and Genting-owned Resorts World Casino at the Aqueduct in Queens are well-established Class II casinos. If they were to become full casinos, they would not need to build from the ground up.

The board will consider the following criteria when awarding the licenses: Providing the highest number of quality jobs in the gaming facility, working in partnership with local government and businesses in vicinity of selected locations, including hotels, restaurants and event venues.

Providing the highest number of quality jobs in the gaming facility. Working in partnership with local government and businesses in vicinity of selected locations.