Casino plans for Mets ballpark and golf course Trump once ran among 3 awarded NYC gambling licenses

FILE - In this photo provided by the Office of the Mayor of New York, Mayor Eric Adams, third left, participates in the ribbon cutting ceremony and sign unveiling of Bally Links, formerly Trump Links, at Ferry Point in the Bronx borough of New York, Thursday, Jan. 11, 2024. Photo by Michael Appleton /APArticle contentNEW YORK (AP) — The New York Mets’ ballpark in Queens. A Bronx golf course once operated by President Donald Trump ‘s company. A slot parlor on a horse racing track near John F.

Kennedy International Airport.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe three disparate sites, located far from the tourist hub of Manhattan, will become the future homes of New York City’s first Las Vegas-style resort casinos.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe state Gaming Commission on Monday awarded the three projects licenses to operate in the lucrative metropolitan-area market during a meeting at a riverside park in upper Manhattan.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe panel approved the licenses with the condition that the companies appoint an outside monitor to ensure they’re complying with state law and meeting the many promises and local investments they made to communities.Article contentBrian O’Dwyer, the commission’s chair, said the state looked forward to casino projects’ promises of jobs, infrastructure investments and gaming revenue realized.Article contentA handful of protestors opposed to billionaire Mets owner Steve Cohen’s casino plan stood up and shouted: “You picked a billionaire over New Yorkers! Shame on you!” as they walked out of the meeting.Article contentDemocratic New York Gov. Kathy Hochul has praised the projects, saying they could unlock billions for the state’s transit system and create jobs. Opponents complain that easy access to casinos will only increase gambling addiction.Article contentThe projects bested several other proposals that fell by the wayside during the high stakes competition.Article contentArticle contentAmong them were three casinos proposed for Manhattan that were rejected by local boards, including a Caesars Palace in the heart of Times Square backed by rapper Jay-Z. A plan for a resort on Coney Island’s iconic boardwalk in Brooklyn was also defeated by local opposition, and MGM abruptly pulled out of the once-crowded sweepstakes, despite local support.Article contentThe state gaming commission was authorized to license up to three casinos in the New York City area after voters approved a referendum in 2013 opening the door to casino gambling statewide.Article contentFour full casinos, all upstate, now offer table games. The state also runs nine gambling halls without live table games, many of them also miles away from Manhattan.Article contentMonday’s decision, in some ways, was largely a formality. Millions of dollars in gambling revenues are already factored into the state budget.Article contentA state panel charged with vetting the proposals for the commission also recommended awarding a license to all three remaining proposals earlier this month.Article contentThe Gaming Facility Location Board, in its written decision, argued that the region’s dense and relatively affluent population, combined with high tourism, would be able to support all three plans, despite their relative proximity to each other.Trending The Federal Reserve’s rate cut was a clear signal to investors Investor Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News Stellantis hires 1,000 workers in Windsor as Brampton dispute continues Autos McKinsey plots thousands of layoffs in consulting slowdown Work Article contentThe panel said its consultants conservatively estimated the casinos would generate a combined $7 billion in gambling tax revenues from 2027 to 2036, plus $1.5 billion in licensing fees and nearly $6 billion in state and local taxes.Article contentMonday’s decision also means Trump likely stands to claim a substantial prize. When Bally’s purchased operating rights for the city-owned Ferry Point golf course from the Trump Organization in 2023, it agreed to pony up an additional $115 million if it won a casino license.Article contentThe Trump Organization hasn’t commented on the expected windfall.Article content___Article contentFollow Philip Marcelo at https://x.com/philmarceloArticle contentShare this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.

The Federal Reserve’s rate cut was a clear signal to investors Investor Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News Stellantis hires 1,000 workers in Windsor as Brampton dispute continues Autos McKinsey plots thousands of layoffs in consulting slowdown Work