Author Topic: will there be a hotel instead of a racetrack at Yonkers?  (Read 3474 times)

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augustaandy

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will there be a hotel instead of a racetrack at Yonkers?
« on: January 03, 2023, 11:10:16 PM »
New York state charging $500 million fee for city casino license

https://nypost.com/2023/01/03/new-york-charging-500-million-fee-for-nyc-casino-license/

The operators awarded licenses to run any of the three New York City-area casinos will have to pay the state at least a $500 million fee for the chance at rolling the dice, according to new rules approved by a state siting board Tuesday.

The New York Gaming Facility Board released the request for applications, which includes a rating system that will determine the winners of the bids for the casino licenses — including the $500 million license fee, paid within 30 days of the award of the license.

But the license fee can turn into a more pricey bidding war — separating well-resourced contenders from pretenders.

“An applicant may propose to pay a higher license fee,” the siting board said.

The initial casino licenses will run from 10 years to 30 years based on the investment of the winning bidder, and revenue to the state weighs heavily in the rating of the bidder’s proposals.

The category of “economic activity and business development factors” will account for 70 percent of the score of the proposals. That includes capital investment, “maximizing state and local revenues,” providing the most jobs and creating the “highest caliber” casino with an array of amenities.

SEE ALSO
Real estate giant SL Green Realty Corporation and Caesars Entertainment are floating plans for a Times Square casino.
EDITORIAL
Insane plan for a Times Square casino shows how crooked the whole ‘gaming in NYC’ game is
Workforce development and diversity will account for a combined 20% of the overall score and local siting issues that include mitigating impacts on surrounding neighborhoods accounts for the remaining 10%.

But first applicants must obtain any necessary local government zoning/land-use approvals and receive the blessing of a local community advisory committee — which includes locally elected representatives — before the siting board can even review a bidder’s application.

Because of the community review process, there’s no set deadline for when a decision will be made on the awarding of casino licenses, according to the siting board. But insiders expect the awards to be made by year’s end.

A consortium proposing a casino for Coney Island immediately released a statement Tuesday saying it will submit a bid for one of the licenses. The group includes Thor Equities, Saratoga Casino Holdings, The Chicksaw Nation and Legends — the entertainment firm co-owned by the Yankees.

The group plans to submit a comprehensive casino, hotel and entertainment proposal for Coney Island — fueled by private, not taxpayer, investment — to provide an economic boost for southern Brooklyn by creating permanent local jobs for residents.

“For more than a generation, Coney Island has been waiting for a year-round economy that creates not just jobs — but careers. Our partnership is unique, combining unrivaled gaming expertise, an unsurpassed track record in entertainment, and a commitment to serving the local community like no other. We look forward to submitting our bid and setting a new standard in economic revitalization and resiliency for New York,” the Coney Island consortium said in a statement.

The owners of the existing slots parlors at the Aqueduct race track in Ozone Park, Queens and Yonkers race track — Genting/ Resorts World and MGM’s Empire City — are expected to submit bids to expand their offerings to include table games.

Meanwhile, Mets owner Steve Cohen is eyeing a casino near the team’s Citi Field in Willets Point, Queens. A 25,000-seat professional soccer stadium is also planned in the vicinity.

Others planning bids to operate a casino include the Steve Ross-Related Companies/Wynn Resorts partnership for Hudson Yards and the landlord SL Green/Caesars Entertainment team in Times Square.

Locked in with pace

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #1 on: January 04, 2023, 07:18:00 AM »
500 million reasons to have a hotel there. This is going to be interesting

Yonkers1A

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #2 on: January 04, 2023, 07:21:21 AM »
Let’s hope that toilet Jonkers Racetrack gets bulldozed.

Bernie Madoff

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #3 on: January 04, 2023, 08:01:59 AM »
Let’s hope that toilet Jonkers Racetrack gets bulldozed.



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The Exporter

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #4 on: January 04, 2023, 08:52:44 AM »
There are 3 licenses up for grabs. Common sense says The Big A and Yonkers are front runners. But, you never know. Saratoga Harness was looked like a sure thing in the last round of casino licenses. But, the democratic political power found a big shit hole to fill in Schenectady. The benchmarks that were set for that round went out the window and political cronyism prevailed.
 There were 3 dynamite sites in Orange County that checked all the boxes but, reviving the Borsch Belt was the ultimate plan. How is that working out.
 So, you never know which way the political wind blow.

Yonkers1A

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #5 on: January 04, 2023, 10:58:26 AM »
There are 3 licenses up for grabs. Common sense says The Big A and Yonkers are front runners. But, you never know. Saratoga Harness was looked like a sure thing in the last round of casino licenses. But, the democratic political power found a big shit hole to fill in Schenectady. The benchmarks that were set for that round went out the window and political cronyism prevailed.
 There were 3 dynamite sites in Orange County that checked all the boxes but, reviving the Borsch Belt was the ultimate plan. How is that working out.
 So, you never know which way the political wind blow.

Exactly, who makes the largest political donation. Gural leaned that quick when he didn’t get the original Tioga Downs license.


Superfecta

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #6 on: January 04, 2023, 11:42:29 AM »
There are 3 licenses up for grabs. Common sense says The Big A and Yonkers are front runners. But, you never know. Saratoga Harness was looked like a sure thing in the last round of casino licenses. But, the democratic political power found a big shit hole to fill in Schenectady. The benchmarks that were set for that round went out the window and political cronyism prevailed.
 There were 3 dynamite sites in Orange County that checked all the boxes but, reviving the Borsch Belt was the ultimate plan. How is that working out.
 So, you never know which way the political wind blow.

The Big A, Yonkers and Hudson Yards group. They seem determined to get a casino in Manhattan and Times Square will be too difficult. Coney Island is Atlantic City 40 years later.
The Harriman site in Orange County made the most sense with a train station right there. Where were the other 2 sites in Orange County ?
BTW, the Resort World slot parlor and sports bar just opened last week in Newburgh.

panhunter

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #7 on: May 25, 2023, 02:40:40 PM »
I remember when they were racing 4 claimers before the casino windfall made them all rich! Place should have been a landfill years ago!

rainman2

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #8 on: June 07, 2023, 09:30:26 PM »
New York state charging $500 million fee for city casino license

https://nypost.com/2023/01/03/new-york-charging-500-million-fee-for-nyc-casino-license/

The operators awarded licenses to run any of the three New York City-area casinos will have to pay the state at least a $500 million fee for the chance at rolling the dice, according to new rules approved by a state siting board Tuesday.

The New York Gaming Facility Board released the request for applications, which includes a rating system that will determine the winners of the bids for the casino licenses — including the $500 million license fee, paid within 30 days of the award of the license.

But the license fee can turn into a more pricey bidding war — separating well-resourced contenders from pretenders.

“An applicant may propose to pay a higher license fee,” the siting board said.

The initial casino licenses will run from 10 years to 30 years based on the investment of the winning bidder, and revenue to the state weighs heavily in the rating of the bidder’s proposals.

The category of “economic activity and business development factors” will account for 70 percent of the score of the proposals. That includes capital investment, “maximizing state and local revenues,” providing the most jobs and creating the “highest caliber” casino with an array of amenities.

SEE ALSO
Real estate giant SL Green Realty Corporation and Caesars Entertainment are floating plans for a Times Square casino.
EDITORIAL
Insane plan for a Times Square casino shows how crooked the whole ‘gaming in NYC’ game is
Workforce development and diversity will account for a combined 20% of the overall score and local siting issues that include mitigating impacts on surrounding neighborhoods accounts for the remaining 10%.

But first applicants must obtain any necessary local government zoning/land-use approvals and receive the blessing of a local community advisory committee — which includes locally elected representatives — before the siting board can even review a bidder’s application.

Because of the community review process, there’s no set deadline for when a decision will be made on the awarding of casino licenses, according to the siting board. But insiders expect the awards to be made by year’s end.

A consortium proposing a casino for Coney Island immediately released a statement Tuesday saying it will submit a bid for one of the licenses. The group includes Thor Equities, Saratoga Casino Holdings, The Chicksaw Nation and Legends — the entertainment firm co-owned by the Yankees.

The group plans to submit a comprehensive casino, hotel and entertainment proposal for Coney Island — fueled by private, not taxpayer, investment — to provide an economic boost for southern Brooklyn by creating permanent local jobs for residents.

“For more than a generation, Coney Island has been waiting for a year-round economy that creates not just jobs — but careers. Our partnership is unique, combining unrivaled gaming expertise, an unsurpassed track record in entertainment, and a commitment to serving the local community like no other. We look forward to submitting our bid and setting a new standard in economic revitalization and resiliency for New York,” the Coney Island consortium said in a statement.

The owners of the existing slots parlors at the Aqueduct race track in Ozone Park, Queens and Yonkers race track — Genting/ Resorts World and MGM’s Empire City — are expected to submit bids to expand their offerings to include table games.

Meanwhile, Mets owner Steve Cohen is eyeing a casino near the team’s Citi Field in Willets Point, Queens. A 25,000-seat professional soccer stadium is also planned in the vicinity.

Others planning bids to operate a casino include the Steve Ross-Related Companies/Wynn Resorts partnership for Hudson Yards and the landlord SL Green/Caesars Entertainment team in Times Square.

Look how The State of New York got all those $ 500 million fees from Draft Kings, et al.  Deja vu all over again?

Generation XYZ

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #9 on: June 07, 2023, 09:31:50 PM »
Yeah and it doesnt stop there.
Pay to Play, Play to Win!

rainman2

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #10 on: June 07, 2023, 09:34:22 PM »
Yeah and it doesnt stop there.

And which part of New York State will reap all the rewards?  Answer NYC! 

Generation XYZ

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Re: will there be a hotel instead of a racetrack at Yonkers?
« Reply #11 on: June 08, 2023, 07:00:00 PM »
Eastern NY will reap the benefits, along with Saratoga.
Pay to Play, Play to Win!

 

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