New York City Plans to Revise Zoning Regulations to Favor Casino Development
Under the proposal, gambling establishments would only be permitted in certain commercial and industrial districts. However, the plan requires approval from community boards, the offices of borough presidents, and the Planning Commission itself. The final decision will rest with the New York City Council.
Dan Garodnick, director of the Department of City Planning (DCP), commented on the initiative, stating, "As the state considers proposals for casinos in lower Manhattan, it’s important that we create a level playing field for applicants in New York City. This will allow them to compete for this opportunity." Garodnick added that the amendment "will help avoid duplicating the state's rigorous licensing process" while also "creating a rational basis for discussion."
In New York State, the review process for three casino licenses is still ongoing. If the amendments are approved, potential casinos in the newly designated areas will only need approval from the state and its Public Advisory Committee, eliminating the lengthy unified land use review process for each application.
The new zoning rules are expected to benefit operators vying for casino licenses, including Thor Equities' proposal for Coney Island in Brooklyn and a joint bid from SL Green Realty, Roc Nation, and Caesars Entertainment for Times Square. However, projects like a casino near Citi Field in Queens or Bally’s in the Bronx may face additional hurdles, as they would require special permits for gaming facilities in park zones.
Meanwhile, in Vietnam, plans are underway to build a $2.2 billion casino resort.
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