This week, global gambling and entertainment company Hard Rock informed that it has three potential sites for a US$2 billion casino property in New York City. This April the Seminole tribe-owned corporation will open a US$400 to US$500 million gaming property in Manhattan, however, it did not provide specific information on the potential locations.
The company is already operating in the Empire State, as it has Hard Rock Café near Times Square in NYC. But its plan for the casino could have an effect on its hotel plans in the Big Apple. It must be mentioned that in order to deploy its casino plan, it needs all regulatory approval from the state, as well as beating the competition to it.
Awaiting More Details
This week, Hard Rock’s Chairperson Jim Allen revealed that the corporation has come up with three potential casino sites for its gaming property in New York City. However, he explained that the soon-to-open 446-room Hard Rock Hotel New York will is not included in the equation, as the property needs to be large enough to be able to cope with the current market.
He further commented that the company is happy with its hotel on 48th Street, but according to them, it is not big enough for gaming. And regarding the potential casino locations, he said that the company awaits on the governor and the committee to start off a Request for Proposals. Then, the firm will see what language is in the bill, and determine the acceptable location.
Hard Rock has partial ownership in the Meadowlands racetrack in New Jersey, just outside of NYC, and has a plan of building a casino property there. However, Mr. Allen indicated that its plan to have one in NYC does not necessarily mean that the NJ one will be scrapped. He also expects the NY property to bring US$2 billion in annual gaming revenue.
The Chairperson explained that a Big Apple or Northern New Jersey property could draw away crowds from the company’s Atlantic City casino. But he also added that such a setup could also help the AC one by funnelling gamblers who patronize a New York-area facility to Atlantic City for special events, such as the concert of the legendary Andrea Bocelli this June.
Thee Licenses Up for Grabs
Currently, the New York State Gaming Commission is looking to award three commercial casino licenses in downstate New York. In December last year, the regulator started its Request for Information to learn who would be interested in operating such property. According to the commission, it received 30 responses, eight of which came from casino operators.
One of the Candidates
One of the companies that want to get its hands on one of the three licenses is MGM Resorts, which operates Empire City Casino in Yonkers. The corporation would like to expand it into a full-scale one, and it has already received support from local lawmakers and communities. Plus, it would be able to quickly deploy the expansion.
Source: Parry, Wayne “Hard Rock has 3 potential sites for a New York City casino”, Niagara Falls Review, February 17, 2022
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