The Final Stage of the Battle for New York City Casino Licenses

A state board is expected to approve licenses for up to three full-fledged casinos on Monday, marking the end of the protracted campaign to bring casino gambling to New York City after more than ten years.

The meeting of the New York Gaming Facility Location Board is scheduled at 10 a.m. to make its recommendations at the Graduate Center of the City University of New York in Manhattan.

According to conventional thinking, the board will probably suggest that all three of the remaining competitors be granted licenses because the state needs money and the licensing fees would generate over $1.5 billion.

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The state’s gaming commission will vote on the recommendations made by the five-person Location Board at the end of the month. The commission is supposed to abide by the board’s recommendations unless there is an extraordinary and unforeseen event.

For almost ten years, gambling corporations have been itching to enter the largest unexplored casino market in the country.

A constitutional amendment permitting up to seven casinos in the state, with up to three set aside for the New York City region, was approved by voters in New York State in 2013. A year’s notice was given to the four upstate casinos. It’s New York City’s turn now.

Former Governor Andrew M. Cuomo supported the growth of casino gambling, claiming that it would promote economic growth and that New York might as well get a portion of the taxes that New Yorkers were earning elsewhere.

The state’s demanding public assessment process had eight contenders. Four eventually advanced past that point, but one gave up too soon. Bally’s, Hard Rock Hotel & Casino, and Resorts World New York City were the three remaining bidders for the three licenses.

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