New York City's Thrill Ride: Can It Handle Three More Casinos?
A recent decision by the New York State Gaming Facility Location Board has sent shockwaves through the city, sparking both excitement and trepidation about the future of casino gaming in the five boroughs. With three new casinos on the horizon - Bally’s Bronx at Ferry Point, Hard Rock Metropolitan Park near Citi Field, and Resorts World New York City - the board's confidence that New York City can support a robust downstate gaming industry is being put to the test.
Critics argue that the region may be over-saturating itself with new casinos, potentially leading to a cannibalization of profits among existing operators. "We've now created the Van Wyck Expressway Casino Belt, with casinos running from the Bronx-Whitestone Bridge to Kennedy Airport," said Bennett Liebman, Government Lawyer in Residence at Albany Law School. He warned that this concentration of gaming facilities could lead to a decline in economic development and tax revenue.
On the other hand, proponents of the new casinos argue that each project is distinct enough to attract unique customer bases. Bally’s Bronx, for instance, boasts a golf course, while Hard Rock Metropolitan Park will anchor a strong entertainment district with its proximity to Citi Field, the Billie Jean King Tennis Center, and a planned soccer stadium.
While some experts agree that New York City's large market size can support multiple casinos, they also caution that existing operators may struggle to adapt. Anthony Lucas, professor of casino management at the University of Nevada, Las Vegas, noted that other cities in the US have successfully supported more than three casinos. However, he warned that new entrants like Hard Rock Metropolitan Park could "displace almost 16,000 renters" and exacerbate issues of displacement and gentrification.
The board's evaluation predicts that the three facilities will collectively generate nearly $13 billion in taxes within the first decade of operation, with a total downstate casino market reaching approximately $5.5 billion in gross gaming revenue by 2033. While this may seem like a welcome injection of funds, opponents argue that the costs will be borne disproportionately by vulnerable communities.
As the Gaming Commission reviews the board's recommendation, one thing is certain - New York City's casino landscape has never been more complex and contentious. Will the city's reputation as a hub for entertainment and tourism continue to thrive, or will the proliferation of new casinos lead to a dilution of its unique character? Only time will tell.
A recent decision by the New York State Gaming Facility Location Board has sent shockwaves through the city, sparking both excitement and trepidation about the future of casino gaming in the five boroughs. With three new casinos on the horizon - Bally’s Bronx at Ferry Point, Hard Rock Metropolitan Park near Citi Field, and Resorts World New York City - the board's confidence that New York City can support a robust downstate gaming industry is being put to the test.
Critics argue that the region may be over-saturating itself with new casinos, potentially leading to a cannibalization of profits among existing operators. "We've now created the Van Wyck Expressway Casino Belt, with casinos running from the Bronx-Whitestone Bridge to Kennedy Airport," said Bennett Liebman, Government Lawyer in Residence at Albany Law School. He warned that this concentration of gaming facilities could lead to a decline in economic development and tax revenue.
On the other hand, proponents of the new casinos argue that each project is distinct enough to attract unique customer bases. Bally’s Bronx, for instance, boasts a golf course, while Hard Rock Metropolitan Park will anchor a strong entertainment district with its proximity to Citi Field, the Billie Jean King Tennis Center, and a planned soccer stadium.
While some experts agree that New York City's large market size can support multiple casinos, they also caution that existing operators may struggle to adapt. Anthony Lucas, professor of casino management at the University of Nevada, Las Vegas, noted that other cities in the US have successfully supported more than three casinos. However, he warned that new entrants like Hard Rock Metropolitan Park could "displace almost 16,000 renters" and exacerbate issues of displacement and gentrification.
The board's evaluation predicts that the three facilities will collectively generate nearly $13 billion in taxes within the first decade of operation, with a total downstate casino market reaching approximately $5.5 billion in gross gaming revenue by 2033. While this may seem like a welcome injection of funds, opponents argue that the costs will be borne disproportionately by vulnerable communities.
As the Gaming Commission reviews the board's recommendation, one thing is certain - New York City's casino landscape has never been more complex and contentious. Will the city's reputation as a hub for entertainment and tourism continue to thrive, or will the proliferation of new casinos lead to a dilution of its unique character? Only time will tell.
it sounds like a recipe for disaster to me - we already have so many options here and i'm worried that these new ones are gonna cannibalize profits from the existing ones 
plus, what about all those ppl who arent making bank? shouldn't we be focusing on gentrification instead of lining the pockets of big casino corps? 
i mean, 16k renters displaced is no joke 
... like what if Hard Rock displaces a bunch of low-income families? 
And isn't it a bit too much gaming for 1 city? 
Still, I guess if they can make it work, it could be a big boost to the economy 
. Interesting how it's all about balancing progress with social responsibility 
... I've seen how gentrification can happen and it's scary to think those 16,000 renters might get priced out 
... that $13 billion in taxes sounds great on paper, but what about all the extra traffic and construction? NYC is a unique place, let's hope these casinos don't alter its magic 
My friends who work at the existing casinos are kinda worried though, they're like "will we get pushed out?" 
We should keep an eye on this though, it could be a game changer for the city 
I mean think about it, you got 2 sports teams + Citi Field = already crazy busy. Then add 2 more casinos and a golf course 
to the mix? It's like trying to fit too many puzzle pieces into one spot... it's gonna get messy! Plus, I'm worried about gentrification & displacement of renters 
, but at the same time, i can see why some ppl are worried about gentrification and displacement, we gotta make sure that the benefits of these casinos r shared by everyone, not just the people who already have power