NY officially solicits bids for full-fledged casino with license fee set at $500M

NY officially solicits bids for full-fledged casino with license fee set at $500M

New York’s bid to award as much as three licenses for full-fledged casinos superior on Tuesday after officers unanimously voted to formally solicit purposes, with an asking value of $500 million for every license.

The state Gaming Facility Location Board voted to open up the appliance course of for a full-fledged casino, which might permit dwell desk video games and create extra tax income for the state.

The board will evaluate every utility and contemplate a number of components, together with what number of jobs a potential operator plans to create, how a lot income a casino expects to herald, and a dedication to contract with minority and women-owned enterprise enterprises. Jobs generated by casinos should additionally pay a residing wage.

Functions should even be reviewed and accepted by a group advisory committee. Every utility fee prices $1 million, in accordance with the board’s web site.

The plan to deliver extra full-scale casinos goes again a decade, when New Yorkers voted to approve the authorization of upwards of seven business casinos throughout the state. 4 of these licenses have since been accepted.

The most recent spherical of solicitation for licenses has generated curiosity from Thor Equities, which has partnered with Saratoga Casino Holdings, the Chickasaw Nation and Legends with intentions of constructing a gaming advanced in Coney Island. Instantly following the state’s launch of the appliance, the group launched a joint assertion saying that the neighborhood has “been waiting for a year-round economy that creates not just jobs — but careers.”

“We look forward to submitting our bid and setting a new standard in economic revitalization and resiliency for New York,” the group wrote in its assertion.

However the group is not the one one trying to construct a casino in New York Metropolis. In October, SL Inexperienced Realty Corp. — an actual property funding belief — revealed its plans to hunt a license for a full-fledged casino in Instances Sq. in partnership with Caesars Leisure.

Resorts World New York Metropolis in Queens and Empire Metropolis Casino in Yonkers have expressed curiosity in constructing a casino, as beforehand reported by Gothamist, whereas Wynn Resorts and the Associated Firms are contemplating a bid to construct one at Hudson Yards in Manhattan. New York Mets proprietor Steve Cohen has additionally expressed curiosity in constructing a casino subsequent to the crew’s house stadium of Citi Subject.

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