Bally’s Buys Trump Bronx Golf Course, Hopes for New York Casino License

Bally's buys Trump Bronx golf course, hopes to get New York casino license

Bally's (NYSE: BALY ) is reportedly acquiring the Trump golf course at Ferry Point in the Bronx, New York, with hopes of eventually building a casino on the property. The links are currently owned by the Trump Organization, President Donald Trump's family company.

The New York Post reported earlier today that the Rhode Island-based regional casino operator is buying the Trump Organization's golf course lease in New York City. The deal is believed to be worth "tens of millions of dollars," The Post reported.

In 2015, the city and the Trump Organization agreed to extend the lease for 20 years. In 2021, former New York City Mayor Bill de Blasio, a Democrat, sought to terminate the agreement, citing the January 6, 2021, riots at the U.S. Capitol in Washington, DC. No criminal court has found the 45th president guilty of crimes related to Jan. 6, and in April 2022, a Manhattan Supreme Court judge ruled that de Blasio's decision to terminate the agreement was wrong.

If the Trump Organization still owned the lease, the end date on the New York City Comptroller's website would have shown as 2035, but the end date is now September 21, 2023, meaning the lease has actually changed hands. Bally's is not mentioned on this website.

The Bronx cheers as Trump’s name should be removed

While Bally's has not been confirmed as the new tenant, the bookmaker is widely expected to live up to previous speculation and remove Trump's name from the golf course.

That makes New York Comptroller Brad Lander (D) happy. Lander, described in some circles as one of the most left-leaning politicians in a city filled with so many politicians who can't contain his partisan views, told The Post he was glad Trump's name "is out there." City Park” is no longer defiled. "

The New York Parks Department was more tactful, noting that it supports transferring the lease to Bally's and hopes the gaming company will "provide New Yorkers with a quality golf experience."

Casino operators are expected to change the course's name to Bally's Links.

Golf is not Bally’s thing

Golf courses are not among Bally's core competencies. Instead, the company acquired the Trump Golf Links lease with one goal in mind: to build a casino-hotel on the property.

Rumors that Bally's is considering opening a casino hotel in New York date back to at least 2021, and it is one of nearly a dozen operators vying for one of the state's three casino licenses, which regulators expect to receive sometime next year. license.

How far Bally's will drop as a contender remains to be seen, but the current consensus is that MGM's Empire City Casino in Yonkers and Resorts World New York in Queens will receive casino approval, leaving only one available scramble.

Recent speculation suggests that Las Vegas Sands (Long Island) and Wynn Resorts (Manhattan) are frontrunners for additional approvals. Still, Bally's can join the conversation by promoting locations outside of Manhattan.