Major Las Vegas Companies Want in on the NY Casino Action
More than six major gambling companies have shown interest in a New York City casino as the Request for Information process concludes.
The state of New York is preparing to provide three casino gaming licenses to companies for the New York City area, with a Request for Information process ending on December 10. Since that deadline, officials have revealed that major players in the casino industry are interested in obtaining the license. On the list includes Rush Street Gaming, Hard Rock Café, Las Vegas Sands, Wynn Resorts, Bally’s, and Genting.
Details of the RFI
When a company responds to such a request, it is not a bid for licensing. It is a step in the process that can lead to a bid for operation. The New York Gaming Commission has three licenses up for grabs and one could create a new venue in New York City or nearby counties within two years.
Within the responses, the majority of the information is redacted expect for the company and the contact information. A company can choose to have the information redacted until they are ready for it to go public.
Rush Street Gaming was not shy about its RFI and actually provided information as to why they should be given one of the licenses. Within a presentation, the company said that they are developers of destination casinos and are proud of how the company has been able to transform local communities.
The company continued by providing insight into its contributions in Schenectady, New York along with other major cities like Chicago and Philadelphia. Based on its RFI, Rush Street seems to be very serious about a NYC casino.
Genting is an investor within the Resorts World Casino in New York State along with a Queens racino that also responded to the request. Details were not provided though.
Among the respondents, there were those who did not want to create a conventional casino that presented an RFI as well as those who are in opposition to a casino in NYC. The Water Club was one such organization that responded, hoping to create a small casino, one that does not offer slot machines. Basically, the venue would be focused on table games like poker.
Some of the requests were in response to the licensing and wanting to know what the process involves and to show concern. Among the responses that are concerned include the Shinnecock tribe. The tribe is hoping to create a casino in Long Island and new venues would impede on revenues.
The New York Racing Association is also concerned and responded to the RFI. It is unclear as to what exactly the responses said as the information was blacked out. Even the Proctors Performing Arts Center in Schenectady sent a response, worrying about how a casino might have a cultural impact on the region.
Commercial casinos were first approved in 2013 and the upstate facilities were allowed to start up first. This was decided upon so these venues could build a client base first. Now it is time for the downstate portion of the legislation to begin and we have already seen many operators vying for licensing.
It will be interesting to see as this process continues which operators will move forward with presenting a bid for licensing and which might decide its not worth the effort. It is expected that two of the licenses will be given to existing venues in the area, allowing them to offer full scale gaming. So, it could be that every operator vying for a spot will be competing for just a single license.