Under recent rules approved Tuesday by the state health commission,
The New York Gaming Facility Board issued a request for proposals, which incorporates a rating system that can determine the winners of bids for casino licenses – including a $500 million license fee, paid inside 30 days of license granting.
However the licensing fee could turn into a more costly bidding war – separating well-endowed rivals from challengers.
“The applicant may offer to pay a higher license fee,” the positioning management said.
The initial casino licenses will run for 10 to 30 years depending on the winning bidder’s investment, and state revenue has a large impact on the bidder’s proposal evaluation.
The category “aspects of economic activity and business development” will account for 70 percent. scoring applications. This includes capital investment, “maximizing state and native revenue”, providing the best variety of jobs, and creating a “top caliber” casino with a range of amenities.
Together, workforce development and variety will account for 20% of the general rating, with local location issues, which include mitigating impacts on surrounding neighbourhoods, accounting for the remaining 10%.
But first-time applicants must obtain all essential local authority zoning/land-use permits and receive the blessing of the local people advisory committee – which incorporates locally elected representatives – before the positioning committee may even consider a bidder’s application.
On account of the community review process, there is no such thing as a set deadline by which a decision can be made on the licenses of the casinos, in response to the placement board. But insiders expect the prizes to be awarded by the tip of the 12 months.
The consortium proposing the Coney Island casino immediately issued a statement on Tuesday that it might bid for certainly one of the licenses. The group includes Thor Equities, Saratoga Casino Holdings, The Chicksaw Nation and Legends, an entertainment company co-owned by the Yankees.
The group plans to submit a comprehensive casino, hotel and entertainment proposal for Coney Island – driven by private, not taxpayer-funded investment – to offer an economic boost to South Brooklyn by creating everlasting local jobs for residents.
“For greater than a generation, Coney Island has been waiting for a year-round economy that creates not only jobs but careers. Our partnership is exclusive, combining unparalleled gaming expertise, unmatched achievements within the entertainment industry, and a commitment to serving the local people like no other. We look ahead to submitting our bid and setting a recent standard for New York City’s economic revitalization and resilience,” the Coney Island Consortium said in a statement.
Owners of the prevailing arcades on the Aqueduct racecourse in Ozone Park, Queens and Yonkers racecourses – Genting/Resorts World and MGM’s Empire City – are expected to bid to expand their table gaming offerings.
Meanwhile, Mets owner Steve Cohen is eyeing a casino near the Citi Field complex in Willets Point, Queens. A 25,000-seat skilled football stadium can also be planned nearby.
Others planning bids to operate the casino include the Steve Ross-Related Firms/Wynn Resorts partnership for Hudson Yards and team owner SL Green/Caesars Entertainment in Times Square.