Billionaire Steve Cohen is no stranger to the state of New York; he is a hedge fund billionaire and the current owner of the New York Mets. However, he still needs to be approved for one of the three New York City-area casino licenses, despite having the funds to build an epic casino.
NYC’s three additional casino licenses have drawn 11 proposals from real-estate developers, gambling companies, and other entrepreneurs. To receive a casino license from the state, recipients will have to win over local politicians and state gaming regulators.
Two of the NYC casino proposals, Cohen’s and Bally’s, will have to go even further and get approval from the City Council and state Legislature, as there are land laws where both bidders are looking to build.
Cohen told media sources that he wants to build a $8 billion-dollar casino on the parking lot adjacent to Citi Field in Queens. Bally’s is proposing a casino at the Bronx golf course, which it took over from the Trump Organization last September.
Bidders for the three additional casino licenses are expected to submit their plans in the next few months. Those plans will then be reviewed by advisory committees appointed by the Governor, mayor, and other local politicians. The casino licenses are expected to be issued in early 2025.
Gambling Options In New York
There are currently four commercial casinos in upstate New York, with an additional three licenses to be issued in 2025 for the New York City area. For most New Yorkers, the only way to gamble on sports or classic casino games is with NY 18+ online casinos.
18+ casinos operate online, allowing US players to fund their accounts with multiple traditional and non-traditional banking options. The most popular way to fund your online casino account is with digital currencies such as Bitcoin, Ethereum, Litecoin, and more. Visa, MasterCard, wire transfers, and other methods are also accepted at the most trusted online casinos.
What Is The Legal Gambling Age In New York?
According to the National Library of Medicine, the legal casino gambling age for the state of New York is 18 years of age. This age limit is set for casino locations and slot machines; however, players over 18 can also bet on the lottery and pari-mutuel betting.