Roughly a decade ago, voters in New York approved a constitutional amendment providing for up to seven casino licenses throughout the state, including three for downstate facilities. Each license comes with a $500 million price tag. In 2022, New York authorized the licenses in its state budget, and the New York State Gaming Commission has until the end of the year to award them.
But before that can happen, each Community Advisory Committee (CAC) responsible for approving or rejecting the proposed developments has until September 30 to render a decision.
The field narrowed to six applicants on Wednesday after CACs in Manhattan voted against Caesars Palace Times Square, projected to cost $5.4 billion, and The Avenir (French for “future”), a $7 billion project.
