New York proposes changing zoning laws to accommodate casinos
Mayor Eric Adams (D-N.Y.) wants to change some New York City zoning laws to accommodate the proposed casino-hotel.
Under reforms proposed by the Adams administration, malls could be located in the city's manufacturing districts and virtually any business district with no restrictions on size.
The city is proposing changes to citywide zoning regulations to allow gaming establishments to be licensed in certain commercial zones (Section 32-10) and manufacturing zones (Section 42-10) in the zoning regulations. This amendment would allow gaming facilities that obtain a state permit and be developed through a new state-determined site selection process without regard to potential conflicts with zoning resolutions,” according to a recent filing with the New York City Department of City Planning.
The proposal needs at least ten more steps to take effect. But it reaffirms Adams's commitment to bringing casinos to America's largest city.
Adams’ plan could simplify bidding
While New York's plan to add three more casino hotels to the state has attracted gaming industry big names, the process has been widely criticized as inefficient, slow-moving and potentially corrupt. The winning bidder is expected to be announced next year. However, no date has been set yet, with some analysts suggesting the process could drag out into 2025.
Adams' attempt to change zoning laws could streamline the process. Some bidders are already facing red tape over the designated land on which they hope to build the casino, assuming they are selected as successful bidders. At least one — Las Vegas Sands — avoided the five boroughs and focused instead on Nassau County.
MGM Resorts International's Empire City Casino in Yonkers and Resorts World New York in Queens are still widely expected to be among the three successful bidders. This is due to the established business in New York. But there have been contrary speculations recently.
Resorts World New York was the top-grossing U.S. gaming destination outside Nevada in the third quarter, while Empire City ranked eighth, according to the American Gaming Association (AGA).
Adams' plan may help, but other problems remain
Adams's efforts to bring needed efficiencies to the casino bidding process are notable, signaling the mayor's awareness that New York's tax base is under pressure as residents flee the high-crime, high-tax city.
However, bookmakers must overcome other hurdles to obtain one of the state licenses. This includes obtaining approval from two-thirds of the city's advisory committee in areas where it wishes to take action.
As opponents of Coney Island have made clear, as well as Sands Corp.'s efforts in Nassau County and Caesars Entertainment's Times Square casino plan, that may be difficult to achieve.
Read also:
- Football 101: What is relegation in football?
- Analysts say IGT collapse is symptom of speculation, not fundamental erosion
- Toronto casino fraud scheme leads to five arrests
- New Mexico governor calls for changes to horse racing rules after horse death
Source: www.casino.org
