Bally's pursues a New York license and has plans for a resort at Trump Links

Industry News

Bally's pursues a New York license and has plans for a resort at Trump Links

Another American company has its sights set on the Empire State. Bally's Corporation has submitted their application for a casino license in the state of New York, describing their intentions to construct a resort on the site of the existing Trump Golf Links at Ferry Point.

Bally's hopes to get one of the three state casino licenses that have been made available by the New York State Gaming Commission. This would allow the company to convert a portion of the Bronx golf course into a gambling operation.

According to a story that was published in the New York Times, Bally's was able to reach an agreement with the Trump Organization to control 17 of the total 192 acres of the land in order to construct a casino that would cost $2.5 billion.

According to the conditions of the arrangement that has been published, Bally's would be permitted to remove the name "Trump Links" from the site if it were successful in both its application for a license and its casino project.

According to statements made by Soo Kim, Chair of Bally's Corporation, the corporation has "the ability to use our option at any point to make a payment and effectively step into their lease." These statements were made to the New York Times.

It has been said that Bally's is mulling about a potential new lease agreement for additional space on the Trump site. But, because the Trump Organization still has fewer than 20 years remaining on its present lease, New York City would need to give its blessing to any new building that would be built on the property.

The announcement that a leasing option has been examined for nine acres at Willets Point was another sign of a possible second casino offer that was made by the Bally's Chair. The operator has recently succeeded in securing essential backing from the city council for its $1.7 billion Chicago project.

There are a number of other companies in addition to Bally's that are vying for one of the three commercial casino licenses in New York. The license price for each of these licenses is expected to be $500 million, and there are a total of three licenses available.

Caesars Entertainment, in conjunction with SL Green and Roc Nation, has been working for the establishment of a casino in the Time Square area. In the meantime, Mohegan has formed a collaboration with Soloviev Group in order to compete for a position as a casino partnership at Freedom Plaza in New York.

MGM Resorts, Wynn Resorts, and Las Vegas Sands are all said to be interested in the New York State Gaming Commission contract; however, the NYSGC has not yet made a public announcement on the precise timing of the bidder selection process.