A Greater Atlantic City Chamber of Commerce forum Friday brought together four of the city’s top casino executives, and there was agreement that New York state is likely to approve up to three casino licenses in the greater New York City region almost as soon as a seven-year moratorium expires in December.
But there also was consensus on something else — that Atlantic City and its casino industry have sufficient time to react effectively.
“If we could wake up and Atlantic City was this perfect seaside community, we would weather those threats,” said Mark Giannantonio, president of Resorts, according to The Associated Press. “Make Atlantic City as great as it can be in the next two or three years. Look at what is right in front of you: cleanliness and safety issues.”
Giannantonio was joined on the panel by Joe Lupo of Hard Rock, Jacqueline Grace of Tropicana, and Paul Juliano of Bally’s.
But the assumption that the city will have “two or three years” to improve public perception may not be well-founded.
That’s because two of the casino licenses are expected to go to operators who can get up and running quickly.
Both Yonkers Raceway in Westchester County and Aqueduct Racetrack in Queens have accompanying large “slots parlors” called Empire City and Resorts World, respectively.
That means that the sites — each already with thousands of slot machines and with well-established gambling customer bases — hardly would be starting from scratch if the sites are upgraded to full-fledged casinos.
There would be some remodeling, of course, to make room for numerous gaming tables for so-called “live-dealer” games such as blackjack, poker, and roulette as well as sports betting kiosks.
But both sites have been mentioned as likely sites for two of these licenses for many years. Empire City and the Yonkers track have been owned by MGM Resorts International since 2019, and another gaming industry giant — Malaysia-based Genting — owns the Aqueduct track and slots parlor.
It’s reasonable to believe that both companies have already spent months, and more likely years, planning their strategies so that they can hit the ground running the moment the New York State Gaming Commission gives its formal approval.
That planning could allow each site to hold a grand opening as a full-fledged casino — even before expansion and further renovation down the road — within months, not years.
In December, MGM issued a statement: “Our response to the New York State Gaming Commission’s Request for Information regarding downstate full-scale casino licenses was, in short, ‘we’re ready to go.'”
The Genting statement at that time was similar: “We look forward to continuing to work with our partners at the Gaming Commission during this process, and, if granted a full casino license, we are uniquely positioned to provide elevated support to New York immediately.”
There is no clear frontrunner for the third and final license, which could lead to a casino in New York City, Westchester, Rockland, Nassau, Suffolk, or Putnam counties.
A number of Manhattan lawmakers have expressed opposition to a casino in that borough, and state Sen. Joseph Addabbo Jr. — whose district includes Aqueduct — said recently that he believes the casinos should be placed in areas more in need than Manhattan.
“Normally, we look for a site like this to give a jolt to an economically depressed area that needs some job growth,” Addabbo said on the Gamble On podcast. “I don’t think Manhattan needs an economic jolt, to be honest with you. It already has a tourism base going for it.”
Last year, rumors arose that Steve Cohen, the billionaire owner of the New York Mets, had discussions with the Las Vegas Sands gaming company to build a casino next to the Mets’ CitiField home. But that site is fewer than 10 miles from Aqueduct, and the issuance of two out of the three casino licenses in the same borough could be a longshot.
Hard Rock owner Jim Allen, a native of Atlantic County, seems to be covering all his bases. His company has an Atlantic City casino, and Allen said less than three weeks ago that Hard Rock is scouting three New York City sites for an expected casino license bid.
Allen also has a minority stake in the Meadowlands Racetrack and would have the inside track to a casino at that sports complex should a statewide ballot question ever be approved to permit casinos in the state beyond Atlantic City.
Each new New York casino license is expected to come with a $500 million one-time fee to the state — a manageable amount given the massive population of residents and visitors throughout the region.
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