New York City Casino Bids Lower With Caesars in Times Square and Larry Silverstein's Avenir Involved
In the bustling city of New York, the race for casino licenses in downstate New York is heating up. With Wynn Resorts withdrawing from the race in May 2025, only one bid remains for a casino license in Manhattan.
The bid for Manhattan comes from the Soloviev Group and Mohegan, the commercial gaming entity of the Mohegan Tribe in Connecticut. Known as the Freedom Plaza project, this $11 billion venture includes an impressive casino, two hotel and residential towers, and a "Museum of Democracy" near the United Nations Headquarters.
The Freedom Plaza project, if approved, is expected to bring significant cultural, infrastructural benefits, and increased support in public polls. However, the casino aspect of the project remains controversial among local residents.
The project aims to create thousands of union jobs and generate revenues funding hundreds of millions in community benefits. It is also expected to attract more tourists, fitting for New York City's position as the global capital. Michael Hershman, CEO of Soloviev, believes the project will be a fitting addition to the city.
The state of New York can grant three downstate gaming licenses. MGM Resorts and Genting are suspected to be frontrunners for two of the three licenses due to their longstanding commitment in New York. Bally's is still in contention for a casino in the Bronx.
The New York Gaming Facility Location Board will evaluate a casino for a license only after the project secures a three-fifths majority from its Community Advisory Committees (CAC). On September 18, 2025, the CAC for Caesars Palace Times Square and The Avenir in downstate New York voted against their respective projects. The CAC for the Freedom Plaza project has yet to cast its votes.
Meanwhile, a consortium led by Saratoga Casino Holdings and the Chickasaw Nation targets Coney Island for a casino project. Hard Rock remains in the running for a casino in Queens at the New York Mets ballpark.
As the race for casino licenses in downstate New York continues, the Freedom Plaza project stands as a significant contender. With its ambitious plans and potential benefits, it will be interesting to see how the project unfolds in the coming months.
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