Bally’s New York Casino Rezoning Clears State Legislature
Summary
Bally’s Corp has successfully passed critical rezoning legislation through the New York State Senate and Assembly, taking a significant step towards realising its Bronx casino project. The operator is now awaiting the Governor’s signature to meet the 27 June bidding deadline for one of the three available downstate licenses.
Key Points
- The New York State Senate passed the rezoning legislation with a 55-4 vote.
- Bally’s is proposing a $4 billion casino-resort on the Bally’s Links golf course in Ferry Point.
- The proposal has faced criticism due to its connection with Donald Trump, but legislation moved quickly through the council and state legislature.
- As the 27 June bid deadline approaches, Bally’s and others are preparing their submissions amid a competitive field.
- Bally’s must also navigate financing challenges, with significant debt and upfront costs associated with the proposal.
Why should I read this?
If you’re keen on the evolving landscape of casino ventures and the implications of such developments in New York, this article is a must-read! With Bally’s inching closer to its ambitious plans, it sheds light on potential future shifts in the gaming industry that could affect everything from local economies to the regulatory scene. Don’t miss out on this rollercoaster ride of legislative dramas!