MGM withdrew from New York’s downstate casino licensing process, citing a decline in the expected economic return from its proposed Empire City renovation and expansion. Three applicants remain, with the Gaming Facility Location Board due to recommend licences by 1 December; state regulators may award up to three by year-end.
MGM’s exit leaves three applicants competing for up to three downstate casino licences.
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New York’s Gaming Commission approved casino licences for Bally’s Bronx, Hard Rock’s Metropolitan Park and Resorts World New York City after a Monday meeting. Each bidder must pay a $500 million licensing fee and commit at least $500 million to capital investment; Resorts World expects to begin offering live table games as early as March 2026.
New York state is expected to issue final approvals for downstate casino bids by the end of 2025, before mayor-elect Zohran Mamdani takes office on 1 January 2026. Mamdani has said he is generally opposed to the casino plan, but acknowledged that the state controls the licensing process; city officials appoint one member to each bid’s six-member Community Advisory Committee.
Resorts World New York City, Bally’s Bronx and Steve Cohen’s Metropolitan Park submitted supplemental applications for downstate New York casino licences on 15 October, according to the report. The Gaming Facility Location Board expects the state to name winning bidders by year-end, and state law allows up to three licences. Resorts World outlined a $7.5 billion proposal, while the other bids were valued at $4 billion and $8 billion.
MGM withdrew its Empire City Casino bid in Yonkers, leaving three proposals for New York’s downstate casino licences: Resorts World in Queens, Hard Rock and Steve Cohen at Willets Point, and Bally’s in the Bronx. State Senator Joseph Addabbo urged the New York Gaming Facility Location Board to move quickly on awarding the licences.
New York’s Gaming Facility Location Board began its final assessment of four proposals for three downstate casino licences. Each licence carries a one-time fee of $500m; the board will recommend proposals to the New York State Gaming Commission, which is expected to decide by 1 December.