By New York Post (U.S.) | Created at 2024-11-26 00:19:24 | Updated at 2024-11-27 18:45:19
1 day ago
Gov. Kathy Hochul vetoed a bill Monday that would have pushed up a deadline for bids to open a casino in or around New York City.
“Changing the timeline …. would likely have the impact of helping certain bidders and hurting others,” Hochul said in her veto message.
“I cannot support a bill that aims to change the rules in the middle of the process.”
The measure — passed by lawmakers in June — would have required the bidders to submit their proposals for review in August of this year, even if they hadn’t yet obtained necessary local zoning or other approvals.
Hochul didn’t take action on the bill even as the new deadline passed, effectively a pocket veto of the bill which came as the state Gaming Commission is expected to approve up to three downstate casino licenses by the end of 2025.
Some industry sources say the more drawn-out timetable benefits bidders facing political resistance or ongoing zoning or land-use issues.
At the same time, sources said the earlier timeline to submit proposals would potentially hurt Mets billionaire owner Steve Cohen’s plan to build an $8 billion casino-entertainment complex next to CitiField in Queens or the Wynn/Related Companies proposal to build a $12 billion gaming complex in Hudson Yards, among others.
In her veto message, Hochul said the casino selection process was agreed to with lawmakers as part of the 2022 state budget.
“As part of the process, applicants are required to work with local governments so that their projects fall within the respective zoning laws of the municipalities,” she said. “Potential applicants have been continuously working toward ensuring that their projects are compliant.”
State Sen. Joe Addabbo (D-Queens), who championed the bill along with Assemblyman Gary Pretlow (D-Mount Vernon), called out Hochul for accusing lawmakers of making changes in the middle of the lengthy proposal process.
Hochul is under fire for initiating a “pause” on a hugely unpopular $15 toll to enter Midtown Manhattan over summer, then resurrecting it at $9 only days after this year’s elections when fellow Democrats would no longer face it as a campaign issue.
“The governor changed congestion pricing in the middle of the process,” said Addabbo, chairman of the Senate Committee on Racing, Gaming and Wagering.
“I was trying to improve the process.”
He said potential bidders with serious legal or land use issues should be weeded out sooner rather than drag out the process.
“If you can’t figure out the land use issues in two years maybe a casino shouldn’t be there,” Addabbo said.
The state will get a minimum of $500 million from each bidder awarded a casino license, with proceeds going to the Metropolitan Transportation Authority. But Addabbo estimated it could be $750 million per license, or $2.25 billion.
Addabbo noted that after licences are awarded it could take three years to build new casinos. The exceptions are the slots parlors — Resorts World at Aqueduct raceway and MGM Empire City at Yonkers raceway. They could expand to offer table games within months if awarded a full casino license.
Under the state’s Gaming Facility Location Board timeline, applications for casino bids are due June 27, 2025. Community Advisory Committees consisted of elected officials from the affected areas would then review the bid or bids and vote on whether to approve or reject them.
The board would vote on which casino projects to recommend to the state Gaming Commission, which must then give final approval by year’s end.
