A five-member board will now have to select which of the four downstate casino proposals will be granted a gaming license.
In order to review the last casino applications for extremely profitable state licenses, the state’s Gaming Facility Location Board convened for the first time on Wednesday. This board, which has experience in housing, banking, and economic development, will make the ultimate recommendations for license recipients.
The state Gaming Commission then ratifies that judgment.
Following months of public hearings on each proposal, the board is not anticipated to accept any further public input during the behind-closed-door discussions.
“What is the overall financial picture?’ is one of the topics we need to consider. Based on a dynamic financial analysis of their anticipated interactions, what sort of revenue will they be bringing into the state? The chair of the board, Vicki Been, stated.
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During the de Blasio administration, Been served as deputy mayor.
According to her, each application would be assessed by the board using stringent standards. The primary determinant is the amount of money and economic growth that the casino would produce.
“How feasible is their plan for what they will build, and how soon will they be able to build that and be operational?” she inquired.
Only four applications advanced to the final round after a lengthy procedure that lasted for years.
These include MGM Empire City in Yonkers and Resorts World in Queens, both of which have video slot machines already. Mets owner Steve Cohen’s Bally’s in the Bronx and Metropolitan Park in Queens are both being considered.
The board can grant up to three licenses.
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