This heading is both a bit sarcastic and a statement of fact that we will soon explore. Slots Play Casinos is not given to sarcasm. We try to report to our readers and to do everything we can to help our readers have a better and more enjoyable time at a casino. We are advocates of online casino gaming for the many reasons we have covered numerous times.
These include convenience, comfort, more games, no waiting, no travel costs, better payouts in blackjack and video poker, bonuses, higher return to player rates, and easier management of both time and money, among many others.
New York City is Embarking on a Huge Gamble
We here at Slots Play Casinos are also not given to political statements, but with the election as Mayor of the Democratic Socialist Zohran Mamdani, who has promised many things, and many freebies as well, the voters of New York City are rolling the dice politically.
This leads directly into the decision of the New York Gaming Facility Location Board on December 1st, to recommend that the New York State Gaming Commission approve permits for three land-based casinos to be built within New York City, two in Queens and one in the Bronx.
Aside from the obvious bureaucratic nightmare inherent in the location board’s name, the three casinos are expected to raise huge amounts of revenue and provide tens of thousands of jobs.
With the popularity of online casino gaming growing for all the reasons we have stated many times (convenience, comfort, more games, deposit bonuses, free spins, free play, no travel costs, and mobile gaming), it would seem to be a huge gamble that might not pay off in the long run or even in the short run.
Three casinos in New York City will all but eliminate the travel costs as a reason to play online. All other reasons to play casino games online will remain.
Who Will Build the Casinos?
Three companies will receive the okay to build if the Gaming Commission gives its approval as expected. They are:
- Bally’s
- Hard Rock Hotel and Casino
- Resorts World New York City
Ironically, if Bally’s gets the okay to build its casino at Ferry Point in the Bronx, the Trump organization would receive over $100,000,000 as a condition of the deal when it sold its interest in the land for development at Ferry Point to Bally’s.
Bally’s Statement and Expected Benefits to New York City
Here is part of the statement Bally’s issued pursuant to the casino deal:
“Our community first policy is a cornerstone of our identity. Bally’s Bronx will be no exception. This project is a once-in-a-lifetime opportunity for the Bronx. Beyond creating thousands of union jobs, the project will spur economic revitalization throughout the Bronx. This project provides jobs that will be more than 3x the average median income in the borough as a starting average salary.”
Here are the expected benefits to the city in general and the Bronx specifically:
- $625 million in total enumerated benefits.
- $75 million for traffic and transit improvements.
- Up to 9% Project Equity Ownership.
- $100 million for Parkland Improvements.
- 15,000 union construction jobs.
- 4,000 permanent union jobs.
- 4 billion dollars upfront investment.
It sounds great. Our caveat is that it might be money less well spent than advertised.
Hard Rock Casino and Hotel Statement
This is how Hard Rock describes the project: “After 16 community workshops and meeting with thousands of local residents, the two most frequently mentioned community needs are jobs and green space. It’s time 50 acres of asphalt at Citi Field turned green.
Hard Rock is planning to develop an Integrated Resort of the type that has been developed in the Far East. The Integrated Resort concept places the casino as one of many attractive elements in the resort. Here is what Hard Rock sees the project providing:
- A public park covering 20 acres. This is fully 40% of the 50 acres being developed.
- Athletic fields open to the public.
- Playgrounds.
- Gardens.
- Hotel with restaurants and bars.
- A music auditorium.
- A casino and sportsbook. As you can see, the casino is almost an afterthought.
- Ethnically authentic and inexpensive dining opportunities.
- Local vendors will be welcomed.
- An event space for local events.
- Biking paths.
- Improved public transportation.
- Thousands of union jobs with good salaries.
- Priority hiring for local people.
It is clear that the Hard Rock project involves much more than a casino. Hopefully, it will be worth the investment of several billion dollars.
Resorts World New York City Project
Resorts World already has a casino in South Queens. The new proposal would turn the casino into a huge Integrated Resort. The project calls for a 5-billion-dollar investment.
Here is what Resorts World sees happening:
- Expansion of the casino to cover 350,000 square feet.
- 1600 new hotel rooms.
- Another 350,000 square feet for conference and entertainment space.
- A concert hall to seat 7000 people.
- A sports academy.
- A health center.
- 10 acres of open space with walking trails.
- 10,000 union jobs. 5000 in construction and 5000 in gaming and hospitality.
These three projects involve billions of dollars of investment and promise tens of thousands of union jobs.
We wish the city well as it embarks on these projects. No one can see how Mayor Mamdani will respond to so much wealth being created and invested. Politically, this seems like a massive gamble on three fronts.
It also seems like a huge gamble from the gaming point of view. Aside from the casinos, there will be open spaces which are a good, restaurants and theaters which are a good, conference halls which are a good and so on. The question is whether land-based casino gaming can provide enough revenue at a time when mobile casino gaming has taken over the online casino market.
People will certainly come from the New York City area. But from how far away will people drive to get to the casino when they can also play at home? How will the Integrated Resorts be kept safe in an era where the leading politicians are calling for a very severely reduced police presence?
Here at Slots Play Casinos, we see the projects as having the potential for being a great thing for the city or for being a total bust. We hope it is the former, as New York City cannot well afford such a massive failure.
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