Bally’s New York Casino Rezoning Clears State Legislature
Summary
Bally’s New York casino proposal gains crucial approval as the New York State Senate and Assembly pass rezoning legislation, allowing the company to move closer to securing one of the three available downstate gaming licences. The proposed $4 billion casino-resort aims to be situated at the Bally’s Links golf course in Ferry Point, reflecting a significant advance in the licensing process.
Key Points
- Bally’s secured essential legislative votes with Senate Bill S7049A passing 55-4 and Assembly Bill 7514 passing 132-2.
- The rezoning is critical for Bally’s bid for a downstate casino licence due by 27 June.
- The proposed site has garnered some criticism due to its previous ownership by the Trump Organisation but faces no significant hindrances now.
- Market competition is significant, with at least eight bids for the limited licences, including two existing racinos already prepared to submit bids.
- The approval process will continue, with attention on the environmental reviews and the state application submission deadline looming.
Why should I read this?
If you’re interested in the evolving landscape of gaming legislation in New York, this article breaks down Bally’s fast-tracked progress towards establishing a major casino-resort. It’s a crucial moment in the state’s gaming expansion efforts, and understanding the implications of these developments could keep you ahead in discussions about the future of gambling in the region.