A recent report has revealed that New York is unlikely to award casino licenses for brand new casinos within the state until late 2025.
New York Unlikely To Award Casino Licenses
New York State Gaming Commission has made the approval of a zoning change across the city a priority, according to the latest report.
This decision may take several weeks, however, reviews under the state environmental section have to be completed by those applying with other land or zoning reviews.
Spokespeople from the Gaming Commission have commented on the latest from a recent review and what the next steps will be.
They said: “The Board is cognizant of the many factors relating to the zoning requirement, including New York City’s proposed text amendment relating to gaming facilities and of the many zoning-related questions posed by applicants during the first two rounds of questions,
“The updated timeline, expected to be finalized soon, will consider these and other factors.”
This comes at an interesting time for the casino industry, as several of the leading chains have shown an interest in earning a possible casino license in New York.
MGM International has been public with its plan to improve the Empire City Casino in NYC, amplifying it into a full-scale commercial casino.
A branch under this MGM chain is the video lottery in Yonkers, which is planning on implementing a re-brand and making Empire City progress – making live dealer table games, more slot machines and a high-rolling gaming area present.
Alongside this, MGM is also hoping to include a new BetMGM Sportsbook & Lounge into the refurbished building – in hopes of increasing the customer experience.
These plans may be slightly impacted by the latest reports from New York, however, MGM already own a casino license within the state and could get approval for these updates in the coming months.
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