NYC Approves Three Massive Online Casino Projects After Fierce Competition
New York City has approved three major online casino projects after a lengthy selection process. The state’s college board granted licences to Bally’s, Steve Cohen’s Metropolitan Park, and Genting Group, marking a significant expansion of gambling in the city. Shares in Bally’s surged by 11.5% following the announcement.
The New York Gaming Facility Location Board revealed its decisions in late 2025 with little disruption, aside from a brief protest. All three remaining contenders secured licences, ending months of speculation. Manhattan was left without a casino, while Brooklyn’s Coney Island proposal failed due to strong local resistance.
Steve Cohen’s $8 billion casino near Citi Field in Queens overcame a late legal challenge from U.S. Open organisers. The project will join Genting Group’s $5.6 billion expansion of its existing Aqueduct Racetrack online casino, also in Queens. Meanwhile, Bally’s won approval for a $4 billion resort on a former Bronx golf course, which includes a $115 million bonus for the company’s president upon full licensing.
The three online casinos will bring billions in investment to Queens and the Bronx. Bally’s stock jump reflects investor confidence in the project’s potential. With no further legal hurdles, construction is expected to move forward in the coming months.
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