Bally's Remains the Last Proponent Presenting Casino Plans to Local Advisory Panel in New York City
In a presentation last Friday, Bally's unveiled its ambitious plans for a large-scale integrated casino resort in the Bronx, New York City. The proposed project, valued at $4 billion, aims to transform approximately 16 acres of former parking lots and a golf practice area at Bally’s Golf Links at Ferry Point.
The proposed resort includes a 500,000-square-foot casino with about 3,500 gaming machines and 250 table games, a 500-room upscale hotel, and a 2,000-person event center. Bally's describes this development as the Bronx’s “single largest private development” and a “once-in-a-generation” investment.
The project is expected to bring nearly 9.2 million annual visitors at full operation and generate over $1 billion in gross annual gaming revenue and $1.5 billion in total annual revenues. Moreover, it is projected to generate more than $1.2 billion in net economic output each year.
Bally's emphasised the project's potential for community benefits, aiming to redevelop a former landfill area into a vibrant economic engine that would stimulate local growth. The vision is to create a thriving destination that would boost the local economy and create jobs.
Mayor Eric Adams supports the project, having vetoed the City Council's prior rejection of the zoning change needed for construction. Despite the politically controversial veto, Adams emphasised the potential for significant economic boosts and job creation in the Bronx.
Bally's is the eighth applicant for a downstate New York casino license, competing with several other major applicants. The project is seen as a major contender, aided by Mayor Adams’ veto that revived its chances in the selection process. However, some critics question the fairness and potential political influences surrounding the decision.
The state is expected to award up to three downstate casino licenses by the end of 2025, heightening the competitive stakes among these significant proposals. Other notable competitors include The Coney in Brooklyn, Resorts World New York City in Queens, Metropolitan Park in Queens, and MGM Empire City in Yonkers.
Bally's pledged a fully unionized labor force and promised that a Bronx-based community fund will receive $10 million annually, based on 1% of gaming revenue. The project is also expected to provide 4,000 positions once fully operational, with 15,000 construction jobs during the building phase.
The presentation was led by Bally's Chairman Soo Kim, with Chris Altruda from Casino Reports providing the details. If approved, the project will mark a significant expansion for Bally's and a transformative development for the Bronx. The decision remains pending with the New York State Gaming Commission.
