New York's Gaming Facility Location Board (NYGFLB) recently released answers to questions from downstate casino license bidders, suggesting potential advantages for Genting and MGM Resorts International.

Key points from the NYGFLB's second round of answers:

• Speed to market is one of many consideration factors
• $500 million minimum capital investment required before operations
• Gaming tax rates: 25% on slot machine revenue, 10% on table games
• $1 million application fee and $500 million licensing fee required

Genting and MGM's current advantages:

• Both operate existing venues (Resorts World New York and Empire City Casino)
• Already generate significant revenue as slots-only facilities
• Have infrastructure and operations in place
• Can meet capital requirements (Genting pledged $5 billion for Queens property)

The bidding process timeline:

• Submission deadline: June 2025
• NYGFLB will make recommendations
• Final decision rests with NY State Gaming Commission
• Three downstate licenses to be awarded

Both Genting and MGM are well-positioned with their existing properties, though regulators haven't officially confirmed any advantages for current operators. Nine other bidders are competing, effectively vying for what many believe to be one remaining license, as Genting and MGM are widely considered frontrunners for two permits.

The conversion of these properties to full-scale casinos could significantly increase revenue and tax receipts for New York State, given their already strong performance as VLT-only venues.

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