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NY pols push casino plan to aid MTA as congestion toll mayhem reigns

Speeding up the choice course of for the metro space’s three casino licenses might generate billions of {dollars} in much-needed income for the MTA after Gov. Kathy Hochul stalled the congestion toll, state pols say.

“We have to bring the casino deals to fruition — the MTA needs the money,” stated state Assembly Racing and Wagering Committee co-Chairman Gary Pretlow (D-Mount Vernon), who not too long ago co-sponsored a invoice to arrange a sooner timetable for the award of the licenses.

“The governor could open the bidding process right now, and that could help the MTA,” Pretlow instructed The Post.

Speeding up the selection process for the metro area's three casino licenses could generate billions of dollars in revenue, state pols say.
Speeding up the choice course of for the metro space’s three casino licenses might generate billions of {dollars} in income, state pols say.
Aerial Mike – inventory.adobe.com

Hochul created chaos final week when she all of the sudden put the kibosh on beginning Midtown Manhattan’s new minimal $15 car congestion toll June 30.

She claimed it was coming at a nasty time for economically strapped drivers, whereas the transit company and its supporters blasted her for pulling the rug out from beneath them out of nowhere — and throwing essential mass-transit tasks depending on the anticipated $1 billion a 12 months in tolls into upheaval.

State pols say Hochul can now clear up the mess by shortly signing the invoice simply handed by each the Senate and Assembly to velocity up the awarding of the casino licenses.

The invoice requires bidders to submit their casino plans by the top of August 2024. Currently, there’s no deadline. Final choice wouldn’t doubtless be made till Dec. 31, 2025.

Governor Kathy Hochul speaks during the Empire AI Consortium.
Gov. Hochul stalled on beginning Midtown Manhattan’s new minimal $15 car congestion toll on June 30.
Erik Pendzich/Shutterstock

The successful bidders are anticipated to cough up a minimal of $500 million apiece for a state gaming license — nevertheless it may very well be rather more, a lawmaker stated.

“We could end up getting $2.5 billion to $3 billion just from the casino licenses,” stated state Sen. Joe Addabbo (D-Queens), who co-chairs the racing, gaming and wagering committee with Pretlow and sponsored of the invoice within the state senate.

He stated Albany can resolve to redirect the cash into the Metropolitan Transportation Authority’s capital program as an alternative of the working price range to make up for the lack of revenues from the scuttled congestion toll to enter Midtown.

first renderings of the proposed Coney Island Casino, "The Coney."
“We have to bring the casino deals to fruition — the MTA needs the money,” stated state Assembly Racing and Wagering Committee co-Chairman Gary Pretlow
State Sen. Joe Addabbo said Albany can decide to redirect the money into the Metropolitan Transportation Authority's capital program instead of the operating budget to make up for the loss of revenues.
State Sen. Joe Addabbo stated Albany can resolve to redirect the cash into the Metropolitan Transportation Authority’s capital program as an alternative of the working price range to make up for the lack of revenues.
Christopher Sadowski

“The legislation brings clarity to the process,” a casino-industry supply added of the invoice. “The state gaming commission has been kicking the can down the road.”

But most of the present proposals nonetheless have sticky points that want time to work by way of.

Mets proprietor Steve Cohen’s plan with Hard Rock to land one of many licenses and construct an $8 billion casino/leisure complicated subsequent to CitiField requires a state legislation for the correct to accomplish that.

The heaps across the ballpark are actually thought of parkland, and the legislature has to cross a invoice to reclassify the property for business use.

Mets owner Steve Cohen.
Mets proprietor Steve Cohen plans to land one of many licenses and construct an $8 billion casino/leisure complicated subsequent to CitiField.
Charles Wenzelberg / New York Post

State Sen. Jessica Ramos, who represents the Queens communities across the ballpark, presently opposes the laws and the challenge.

Other casino bidders are grappling with land-use points or group opposition, too, together with the Related Companies/Wynn challenge in Hudson Yards in Manhattan, the SL Green/Caesars Entertainment plan for Times Square and the Thor Equities and companions proposal for Coney Island in Brooklyn.

A Hochul spokesman instructed The Post that the governor will evaluate the timetable laws.

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