Bally’s proposal to build a casino in New York City might earn Donald Trump $115 million thanks to a seamless transaction related to his old golf property.
A high-stakes sweepstakes to choose who would develop a casino in New York City might end in a $115 million prize for President Donald Trump.
The Republican stands to benefit greatly if state regulators grant one of three available gambling licenses to Bally’s Corp., which wants to establish a casino on a city-owned golf course that was formerly operated by Trump’s firm.
Bally’s paid Trump $60 million in 2023 for the right to manage the public 18-hole course on the Bronx’s waterfront, between the East River and Long Island Sound.
The gambling corporation quickly took down the large “Trump Links” sign, which was previously nearly hard to miss for cars crossing Whitestone Bridge, and renamed the course Bally’s Golf Links at Ferry Point.
Also Read: Ceos at Century Casino Are Pleased With the First Quarter
However, in a little-noticed side arrangement, Bally’s offered to pay Trump an additional $115 million if it received a license to establish a casino on-site.
Meanwhile, New York City Mayor Eric Adams has faced enormous pressure to demonstrate his political independence after the Justice Department tried to dismiss his corruption investigation so he could cooperate with the Trump administration’s immigration agenda.
Trump, whose Trump Organization manages over a dozen golf courses across the world, initially purchased the rights to operate Ferry Point in 2012.
The city spent more than $120 million to develop the Jack Nicklaus-designed course on an abandoned landfill, with the goal of creating an East Coast replica of California’s famous Pebble Beach Links and hosting major championships that never occurred.
Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/
