By
Amelia Walker
Senior Content Writer Updated: 04 October 2024
Amelia Walker Senior Content Writer
Amelia Walker is a Senior Content Writer at Betting.US. She has a law degree and deep knowledge of the gambling laws in the United States. Her mission is to keep players informed about responsible gambling, while her passion for sports helps her create useful guides. Amelia has over a decade of experience in betting, which has positioned her as a trusted voice among our readers.
The competition for the three downstate casino licenses is getting more heated by the second. The licenses are expected to be awarded by the end of 2025, bringing about thousands of new job opportunities and significant urban development. But who are the leading contenders putting forward multi-million and multi-billion dollar bids? Stay tuned to find out.
A total of 11 proposals were submitted, but a few stand out. Steven Cohen, the owner of the New York Mets, has proposed an $8 billion development at Willets Point, near Citi Field. The hedge-fund manager has partnered with Hard Rock International to create a major entertainment hub, including a Hard Rock Casino, a soccer stadium for NYCFC, and more.
| Proposal | Location | Key Features | Investment |
|---|---|---|---|
| Willets Point (Steve Cohen) | Queens (near Citi Field) | Hard Rock casino, soccer stadium, 20 acres of parkland | $8 billion |
| Caesars Palace Times Square | Times Square, Manhattan | Casino, 950-room hotel, entertainment venue | $15 million community investment |
| Resorts World NYC | Aqueduct, Queens | Expansion to include full-scale table games | $5 billion |
| Hudson Yards (Wynn Resorts/Related Companies) | Hudson Yards, Manhattan | Luxury casino, adding to the high-end Hudson Yards district | $12 billion |
| East River Project (Soloviev Group) | East River, Manhattan | Casino, 1,300 apartments (40% affordable housing) | $18 billion |
Another very interesting proposal is the one from Caesars Entertainment and Jay-Z’s Roc Nation. The plan features a casino at 1515 Broadway in the heart of Times Square, a 950-room hotel, etc. Roc Nation has pledged to invest significantly in the local community, starting with $15 million in grants to support Hell’s Kitchen. The proposals from the Related Companies Wynn Resorts and Soloviev Group are also rather impressive.
…Our vision is to give back to New York and ensure that the Broadway community, Hell’s Kitchen, and the surrounding businesses and areas all benefit. And not just for a minute, but for the long term.
– said Jay-Z, founder and owner of Roc Nation.
Regardless of which three projects manage to win the NYC licenses, they’ll certainly face lots of challenges along the way. After all, we’re talking about extremely ambitious plans involving millions and billions of dollars. For example, Steve Cohen’s Willets Point proposal requires rezoning of the current parkland, which is a major legal and bureaucratic hurdle.
Similarly, many of the Manhattan-based proposals, like Soloviev Group’s East River project and Hudson Yards, are facing pushback from local communities concerned about increased traffic and disruption in densely populated areas. The opportunities could also positively impact the communities by creating new job opportunities and attracting investments.
The following months will be absolutely crucial not only for the proposed gambling projects but also for NYC and its neighborhoods. Regardless of who wins, we remain hopeful that this will bring about job creation, economic development, and new public spaces.
We’re still quite far from deciding on the city’s downstate casino licenses. Our gambling experts will monitor the situation, so stay tuned as this high-stakes race unfolds. We’ll keep you posted on all future updates.
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