Bally’s Corporation intends to convert the Trump Golf Links’ 17 acres to a casino hotel. But the gaming operator doesn’t have much time left.
The land is in the Bronx, New York, at Ferry Point. Former U.S. President Donald Trump’s family runs the Trump Organization, which agreed with Bally’s to change the land’s ownership to the Rhode Island gaming operator. But the New York City Parks Department is hesitant on transferring the license to Bally’s.
Reports indicated that such a transfer lasts for 40 days. This puts Bally’s in a tough spot since the law requires operators interested in the three New York gaming licenses to present their proposals in six weeks to the state’s regulators.
The Trump Organization currently holds a Ferry Point land license that is valid for an extra 12 years. But, Bally’s requires a 70-year or more agreement to get a New York casino license. The New York Post reports that Las Vegas Sands got a 99-year Nassau Coliseum lease in Uniondale.
Does the Anti-Trump Drive Have a Significant Impact?
President Trump (R) is a renowned high-end realtor in New York. But many local voters and politicians criticize him. For instance, Bill de Blasio, a former Democrat New York Mayor, tried to terminate Trump Golf Links’ contract with New York City. Accusing the President of participating in the January 6, 2021, U.S. Capitol Building incident.
A court favored The Trump Organization in its ruling hence preserving the golf course. Bally’s Corporation declared it wants to build a casino in the Bronx. Besides, the Parks Department isn’t accustomed to prolong 70-year leases.
Still, slow-moving bureaucracy is delaying the casino operator’s plans. Bally’s Corporation intends to put the Ferry Point land into non-park use. Thus, there has to be legislation to change the land’s designation first.
The New York Legislature might have limited determination to pass such a regulation. Senator Jessica Ramos (D- Queens) stated recently that she won’t propose a constitutional amendment to alter the land near Citi Field’s designation.
Steven Cohen, New York Mets’ owner, intends to transform it into a casino hotel. The legislative session will end on June 8 hence leaving Bally’s with limited time to win politicians’ support to change the Ferry Point land’s designation.
What’s Next for the Casino Operator?
Bally’s Corporation isn’t done with seeking support in New York. It disclosed that it wants to remove the Trump name from the property once it acquires a casino license. Still, it has another plan in case it loses the Bronx bid.
The Post reports that the operator is pondering acquiring land adjacent to Citi Field since it lacks the park’s designation. But, it is uncertain whether it will partner with Cohen, as reports claim he would opt to collaborate with Hard Rock International. Bally’s has to get Cohen’s support first to avoid getting strong opposition from him if it selects this option.
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