The never-ending saga of when New York's three downstate casino locations and licensees will be announced is anyone's guess, but when it finally happens, one of the big winners could be the President of the United States.
Key takeaways
- Bally’s promised to pay Trump $115 million if Bally’s were to get a license to open a casino at a public golf course on the Bronx shoreline
- Trump first acquired the rights to manage Ferry Point back in 2012
- There are at least 11 bidders competing for the right to build
The Associated Press reported Wednesday that should one of those sites be Bally's Corporation, it could result in a $115 million jackpot for President Donald Trump.
Bally's would like to open and operate a casino at a city-owned golf course that used to be run by the Trump Organization. Two years ago, Bally’s paid Trump $60 million for the rights to operate the 18-hole public course on the Bronx shoreline, where the East River meets the Long Island Sound.
Trump links
The "Trump Links" sign that was in place was taken down and was replaced and renamed Bally’s Golf Links at Ferry Point. In a separate deal, Bally’s also promised to pay Trump another $115 million if Bally’s were to get a license to open a casino on that site.
Donald Trump, whose Trump Organization runs more than 12 golf courses around the world, first acquired the rights to manage Ferry Point back in 2012.
That letter detailing the deal, describing the nonrefundable $115 million payment as a “gaming event fee,” was disclosed as part of an evidence exhibit in a trial over New York state’s allegation that Trump habitually lied about the worth of his assets in financial statements given to banks.
Who is bidding?
Currently, there are at least 11 bidders that are competing for the right to build what would be the first, full-service casino in the city and its nearby suburbs.
They include Caesars Palace who wants to build a casino in Times Square; Hudson's Bay Company, who owns Saks Fifth Avenue wants to put a casino atop their luxury department store in Manhattan; New York Mets owner Steve Cohen is hoping for a casino outside the team’s home stadium - Citi Field - in Queens.
These two gambling facilities are limited to slot machines and other certain machine-run games: MGM Resorts wants an upgrade to its existing Empire City “racino,” located at Yonkers Raceway harness racing track. Gaming company Genting wants to do a multibillion-dollar expansion of its Resorts World racino adjacent to the Aqueduct horse track in Queens.
Both of these companies also have a New York online casino.
Other proposals include casinos near the Coney Island Boardwalk, out of the Nassau Coliseum (former home of the NHL's New York Islanders) in Long Island or in actual skyscrapers that are yet to be built in Manhattan.
Applications for all bidders are to be submitted to the state board by the end of June for the next step in the process.
Stay tuned.
