Introduction to Bally’s Casino Bid
The Bally’s Community Advisory Council (CAC) voted Monday morning to approve the gaming company’s application to build a $4 billion casino, hotel and entertainment complex in Ferry Point Park. The 5-1 approval was one of many hurdles Bally’s needed to clear in its bid for one of up to three New York City-area casino licenses expected to be awarded by the state by the end of 2025. If it receives a license, Bally’s Bronx will likely become the largest private development project in borough history.
The Approval Process
The CAC considered testimony from two public hearings and written comments from hundreds of residents. For Bally’s to continue through the process, a two-thirds majority approval vote by the group of elected officials’ appointees was required. Danielle Volpe, who was appointed by Republican Council Member Kristy Marmorato representing the East Bronx, was the only member to vote against the project. The Bronx Times reached out to Marmorato for comment and has not yet received a response.
Concerns and Promises
In explaining her vote, Volpe said she was “deeply concerned” about the company’s financial stability and that the project would bring “traffic, crime, and instability” to the borough. “What is being offered to us through this casino proposal is not worth the burden it would place on the Bronx,” she said. Volpe said her vote reflected the will of local residents. “This proposal is unresponsive, dismissive, and disconnected from the surrounding community,” she said.
CAC Chair Lisa Sorin voted to approve but said she was committed to honoring the community’s concerns by holding Bally’s accountable for its promises. At the meeting, the committee stated that the company increased its prior financial commitment to a Community Benefits Fund from approximately $27 million to $32 million per year upon the facility’s opening. The fund will create a long-term revenue stream for specific local organizations, including youth, sports, arts and senior groups.
Response from Bally’s
Following the vote, Bally’s Chair Soo Kim shook hands with a few attendees who watched the proceedings. Addressing the media, Kim said that the work has just begun. “We’re just happy to get to the stage where we’re actually now at the starting blocks.” Kim said his company listened carefully to both sides and were “mindful” about concerns regarding traffic, public safety, environmental impact and more. “All these concerns, we’ve met in spades,” he said. Bally’s was committed to ongoing investment in the Bronx, “not a one-time giveaway,” said Kim. “This a continuous engine that allows the Bronx to be more self-sufficient.”
Bidding Wars
In a statement, Borough President Vanessa Gibson, who appointed Sorin to the CAC, praised the vote and said Bally’s “represents a significant economic opportunity.” “We have consistently stated that the Bronx should have an equal opportunity to compete in this process for a downstate license from the beginning,” she said. The competition for New York City-area casino licenses has recently intensified as the field of options has narrowed. As of today, three proposed casino projects have been approved by their CACs, and four have been ruled out.
Long Road to Approval
As Bally’s proceeded through approvals over the past year, it appeared that residents in the immediate neighborhood largely opposed the project, while others in the borough were generally more open to it. The same dynamic played out in the CAC vote by its six members: Sorin, appointed by Gibson; Volpe, appointed by Marmorato; Alex Porco, appointed by Sen. Nathalia Fernandez; Matt McKay, appointed by Assembly Member Michael Benedetto; and Paul Philps, appointed by Mayor Eric Adams. In the Bally’s decision — as with the recent vote on the Just Home supportive housing proposal — Marmorato stood alone among her colleagues, saying her opposition reflected the will of her constituents.
Conclusion
The approval of Bally’s casino bid by the Community Advisory Council marks a significant step forward in the company’s quest for a New York City-area casino license. While concerns about the project’s impact on the community remain, Bally’s has committed to addressing these concerns through increased investment in the Community Benefits Fund and other initiatives. As the process moves forward, it will be important to continue monitoring the project’s progress and ensuring that the company follows through on its promises.
FAQs
Q: What is the proposed location of the Bally’s casino?
A: The proposed location of the Bally’s casino is in Ferry Point Park.
Q: How much will the casino project cost?
A: The casino project is expected to cost $4 billion.
Q: What is the Community Benefits Fund?
A: The Community Benefits Fund is a long-term revenue stream for specific local organizations, including youth, sports, arts and senior groups.
Q: How much has Bally’s committed to the Community Benefits Fund?
A: Bally’s has committed to $32 million per year to the Community Benefits Fund.
Q: What are the next steps in the approval process?
A: The next steps in the approval process will involve further review and consideration by state officials, with a decision expected by the end of 2025.
