NYC approves three new casino licenses, sparking investor excitement and neighborhood changes
New York City has approved three new casino licenses, marking a major expansion of gambling in the region. The projects will be built in Queens, the Bronx, and near Citi Field, while Manhattan and Brooklyn were left without approvals. Share prices for Bally’s surged after the decision was announced.
The state awarded licenses to three proposals without controversy, as all remaining contenders secured approval. One of the winning bids came from Steve Cohen’s Metropolitan Park casino, set to rise near Citi Field. The development will feature a glassy Hard Rock-branded tower, outdoor parklets, and concert halls. Earlier, the project faced legal challenges from U.S. Open organizers, but the lawsuit was ultimately dismissed.
The three approved casinos will bring major changes to their respective neighborhoods. Bally’s shares climbed by 11.5 percent following the announcement, reflecting investor confidence in the projects. Construction timelines and final certifications for the Bronx and Queens sites remain uncertain.
