How New York City Bidders Are Spending Millions to Secure Casino Licenses in 2024

The race for casino licenses in New York City has sparked intense lobbying efforts among bidders. The high-stakes pursuit of the three coveted downstate New York casino licenses has ignited an intense lobbying war, as operators invest heavily to secure the legal right to operate. As competition for these specific casino licenses intensifies, billionaire Steve Cohen has emerged as a dominant force, standing out as the largest spender on lobbyists in New York City for 2024.

Cohen, owner of the MLB New York Mets, aims to establish a casino resort at Willets Park in Queens, where his team plays. According to the recent Lobbying Bureau Annual Report published by the New York City Council Clerk’s Office, the total lobbying expenditure in the city reached an incredible $138.3 million last year. This marks a record high, surpassing the previous year’s spending by over $7 million, primarily driven by the gaming industry and aspirations to enter NYC’s emerging casino market.

Key Highlights from the Lobbying Expenditure

• Top Spender: Steve Cohen’s entities, particularly Queens Future, LLC, spent a remarkable $1,862,534.67 across 14 lobbying firms, exceeding any other organization in NYC.
• Collaborative Efforts: Cohen is teaming up with Hard Rock International to create a multibillion-dollar hotel and casino situated at the Mets’ ballpark.
• Critical Land-Use Change: A city council committee is scheduled to deliberate on essential land-use modifications necessary for permitting casino development in Willets Point.

Overview of Casino Lobbying Activities

The lobbying report indicates that a total of 636 lobbyists filed statements representing 2,267 clients. These lobbyists contributed $208,100 in registration fees to the city, signaling a robust effort in the pursuit of gaming licenses.

Apart from Cohen, several other prominent clients aiming to secure one of the three gaming licenses have also emerged as substantial spenders:

• Genting Group: Coming in second place, this Malaysia-based company invested $990,000 in lobbying efforts to transform its Resorts World New York City into a comprehensive casino featuring slot machines, live dealer table games, and sports betting.
• Bally’s Corporation: Proposing an integrated resort casino near the Bally’s Golf Links in the Bronx, Bally’s ranked third.
• East River Realty Company, LLC: Seeking a license near the United Nations, this entity spent $613,000 in its lobbying campaign.
• TSG Coney Island Entertainment Holdco, LLC: This group pursued a casino resort project in Coney Island, spending $488,377.
• Wynn Resorts: They allocated $411,009 in their efforts to advance their casino proposal at Hudson Yards.

Lobbyists and Targeted Politicians

The report highlights that major lobbying targets included NYC council members, their support staff, the office of Mayor Eric Adams, the city’s planning department, and community boards. This reflects the strategic approach these casino companies are taking to ensure their interests are represented at all governmental levels.

MGM Resorts and Its Silence on Lobbying

Despite being considered a frontrunner for a gaming concession, MGM Resorts was notably absent from the 2024 city lobbying report. Having operated the Empire City Casino at Yonkers Raceway since 2019, MGM has ambitious plans to invest $5 billion in transitioning the current racino into a full-service casino that reflects the vibrancy of the Las Vegas Strip, located just north of Manhattan.

Conclusion

The immense lobbying activity surrounding the New York City casino bid reflects the competitive landscape of the burgeoning gaming industry in the region. With significant investments from key players like Steve Cohen and Genting Group, the pressure is on city officials to make informed decisions regarding the future of sports betting and casino development in New York. As the landscape evolves, the repercussions of these lobbying efforts will shape not only the economic environment but also the recreational options available to New Yorkers.