- Bally's owes Trump $115M 'gaming event fee' if awarded NYC casino license
- 11 competitors including Caesars and Mets-linked proposal vie for 3 licenses
- Approval requires overcoming political opposition and parkland legislation hurdle
- Existing racinos seek $4B+ expansions to offer full table games
The battle for New York City's first full-scale casinos has become a financial cliffhanger for Donald Trump, with state regulators weighing a $115 million payout clause tied to his former Bronx golf course. Recent court filings revealed Bally's Corp. committed to the extraordinary payment as part of their 2023 takeover of Trump Links, now rebranded as Bally's Golf Links at Ferry Point. This arrangement surfaces amid Trump's ongoing legal battles over asset valuations, adding complexity to one of America's most competitive gaming license competitions.
Industry analysts note the Ferry Point proposal faces unique challenges. Unlike competing bids in Manhattan and Queens, Bally's would need legislative approval to build on public parkland - a process that could extend timelines by 12-18 months. Meanwhile, MGM's Empire City and Genting's Resorts World currently operate limited gaming facilities in Yonkers and Queens respectively, handling over $2 billion annually in machine-based wagers. Both seek full casino status to compete with Connecticut's Foxwoods and Mohegan Sun.
The selection process introduces political wildcards. Governor Hochul's administration has clashed repeatedly with Trump over infrastructure and environmental policies, while Mayor Adams navigates scrutiny over federal investigations. A recent Siena College poll shows 62% of New York voters oppose Trump-linked business deals, creating potential headwinds for Bally's community review phase. However, the project promises 3,200 union construction jobs and $500 million in annual tax revenue - figures that could sway pragmatic lawmakers.
Comparatively, Bally's financial commitment appears aggressive next to rival proposals. Caesars' $2 billion Times Square plan leverages existing tourist traffic, while the Saks Fifth Avenue rooftop casino targets luxury spenders. The Mets-adjacent proposal in Willets Point benefits from $8 billion in nearby redevelopment projects. Experts suggest the selection committee might prioritize ready-to-build locations over complex land-use changes, potentially favoring MGM and Genting's upgrade plans.
New York's gaming law mandates a 30-day public comment period after license applications close June 27. The six-member review board will evaluate economic impact (40% weight), local support (25%), and diversity commitments (15%), with final decisions expected by December 31. As Trump's legal team negotiates separate fraud penalties, this casino contingency payment could become crucial liquidity - provided Bally's clears both regulatory and political roughs.
