ABS Partners Real Estate Reports on NYC’s $17.5B Casino Approvals, Including Bally’s Bronx and Metropolitan Park Projects
NEW YORK — The New York State Gaming Facility Board has approved three New York City casino proposals totaling approximately $17.5 billion in development value, according to ABS Partners Real Estate. The approvals include the Metropolitan Park project in Queens, Bally’s Bronx development on the former Trump Golf Links site, and an expansion at Resorts World New York City in Jamaica.
Three Casino Projects Receive State Approval
The board, chaired by former New York City Housing Commissioner Vicki Been, includes members Terryl Brown, Marion Phillips III, Cindy Estrada, and Greg Reimers. The group approved Metropolitan Park, Bally’s Bronx, and Resorts World New York City for recommendation to the New York State Gaming Commission, which is expected to formally vote on licenses by December 31, 2025.
Metropolitan Park and Bally’s Bronx Advance on Similar Timelines
The Metropolitan Park project, valued at about $8 billion, is planned for 50 acres of parking lots adjacent to Citi Field in Flushing Meadows-Corona Park, Queens. Developed by New York Mets owner Steve Cohen and Hard Rock Entertainment, construction is expected to begin in January 2026, with completion projected for 2030.
The Bally’s Bronx project, estimated at $4 billion, will be built on the former Trump Golf Links property in Ferry Point Park. Bally’s purchased the operating license for the site in September 2023 for $60 million. The project is expected to follow a similar construction timeline as Metropolitan Park. Proposed gaming tax rates include 30% on slot machine games and 10% on table games and other gaming sources.
Resorts World Expansion in Queens
Resorts World New York City, operated by Malaysian conglomerate Genting, plans to expand its existing facility at Aqueduct Racetrack. The proposed $5.5 billion hotel-casino will reportedly be built over three to four years, with live table games expected to be introduced as soon as June 29, 2026.
Projected Economic Impact
According to the Gaming Facility Board’s selection document, the combined downstate casino market could reach approximately $5.5 billion in gross gaming revenue by 2033. Incremental gaming tax revenue is projected to reach about $1 billion annually by 2036, totaling roughly $7 billion from 2027 to 2036, in addition to $1.5 billion in licensing fees.
ABS Partners Real Estate Commentary
ABS Partners Real Estate reported the approvals as part of its coverage of major development announcements in the New York metropolitan area. The firm noted that Bally’s Bronx and Metropolitan Park are expected to proceed on similar timelines and represent significant hospitality and mixed-use development activity within the city.
Next Steps
The New York State Gaming Commission is expected to decide on the licenses by the end of 2025. Construction on the approved sites is anticipated to begin in 2026, marking a new phase of large-scale hospitality and entertainment development across New York City’s outer boroughs.