Bally’s Acquires Golf Course Amid Casino License Pursuit – Casino Reports
It seems Bally's Corporation is quite optimistic about its chances of landing one of the three downstate gaming licenses for New York. According to some unnamed sources, the gambling firm has struck a deal to purchase Trump Golf Links at Ferry Point in the Bronx, NY from the Trump Organization, as the company is hopeful to use the land as part of its potential casino project.
Currently, New York is in the process of awarding a total of three full-commercial casino licenses, and there have been 11 bids made to the Gaming Facility Location Board to review. One of those belongs to Bally's which proposed 10 acres to be used as a premium casino with the other seven being set aside for green space or housing for workers.
Last week, reports emerged that the casino operator is buying the Trump Organization's lease with NYC pertaining to the golf course. It is believed that the deal was worth at least several billion American dollars. Trump Org. and NYC agreed to extend the lease by 20 years, but now the NYC Comptroller's website says the end date is September 21, 2023, meaning that the lease was transferred.
However, if the rumours turn out to be correct, Bally's is not going to continue the golf operations at the property. Instead, the operator plans on turning the Trump Golf Links into a casino and hotel complex. The company is one of the dozen others eyeing one of the three commercial casino licenses, but the deal is far from sealed as the competition is quite fierce.
It remains to be seen whether Bally's is among the candidates for one of the three available licenses for the downstate region. However, two of those permits are almost nailed on Empire City Casino in Yonkers and Resorts World New York City in Queens due to already being functional gaming amenities in the state and it would be quicker to expand and produce benefits for the state.
This essentially leaves the candidates scrapping for the third license. Still, according to Wells Fargo analyst Daniel Politzer, Las Vegas Sands is a favourite for the last one. The company wants to build an integrated casino resort at Nassau County on Long Island. He explained that this was due to the scale of its project, track record, and ability to collaborate well with local communities.
Community Support is a Major Factor
Per requirements by the Empire State, community backing should also be at hand for a bid to be considered. Just recently, a group of companies received a boost for their Coney Island project. Formed by Thor Equities, the Chickasaw Nation, Legends Hospitality and Saratoga Casino Holding, the group shared that over 10,000 Brooklyn residents have signed a petition to support it.
According to The Coney group, its gaming project would potentially generate 4,000 permanent gambling and hospitality jobs. Also, the group promises that there will be a local hiring preference, powered by local recruiting and job fairs within the Coney Island community. But it remains to be seen whether it is enough for the Empire State to place its bets on it.
Source: Schriber, Todd “Bally's Buys Trump Bronx Golf Course, Hopes for New York Casino License” Casino.org, September 8, 2023