{"id":322296,"date":"2024-06-11T16:27:51","date_gmt":"2024-06-11T21:27:51","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=322296"},"modified":"2024-06-12T10:24:04","modified_gmt":"2024-06-12T15:24:04","slug":"ballys-sounds-positive-tone-on-bronx-casino-prospects","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/","title":{"rendered":"Bally\u2019s Sounds Positive Tone on Bronx Casino Prospects"},"content":{"rendered":"

Although it still needs some help from some politicians, Bally\u2019s (NYSE: BALY) is bullish on its prospects to land a permit to develop a casino hotel in the Bronx, NY.<\/p>\n

\"Bally's
Bally’s Links in the Bronx, NY. The gaming company is hopeful about its chances to bring a casino to the property. (Image: NY1<\/em>)<\/figcaption><\/figure>\n

Last year, the Rhode Island-based regional casino operator acquired the lease rights to the golf course formerly known as Trump Golf Links at Ferry Point in the Bronx with hopes of eventually bringing an integrated resort to the property. The gaming company reportedly paid the Trump Organization<\/a> \u2014 the former president\u2019s business empire \u2014 $60 million to acquire those rights.<\/p>\n

In an attempt to gain favor with the city, Bally\u2019s stripped the Trump name from the property, renaming it \u201cBally Links.\u201d<\/strong><\/p>\n

In a recent interview with News 12<\/em>, Bally\u2019s Chairman Soo Kim said his company is planning what would be \u201cthe largest private investment in the Bronx.\u201d However, the land on which the operator is hoping to build a gaming venue is designated as parkland, and that classification can only be altered legislatively. Assemblyman Michael Benedetto (D-The Bronx) represents the district and hasn\u2019t proposed such a bill.<\/a><\/p>\n

I am still listening to my constituents and hearing their opinions … on the particular issue and weighing which way we should go on that,\u201d Benedetto told News 12<\/em>.<\/p><\/blockquote>\n

New York\u2019s 2024 legislative session ended last week.<\/p>\n

Bally\u2019s Has Time to Build Support for Bronx Casino<\/h2>\n

While there was a late-session push to expedite the downstate casino approval process, a bill didn\u2019t make its way to Gov. Kathy Hochul\u2019s (D) desk.<\/p>\n

\n

That means it\u2019s likely New York regulators won\u2019t make any decisions on the winners of the three New York City-area casino permits until late 2025 or early 2026. It\u2019s possible that the longer timeline could help contenders such as Bally\u2019s build support and push lawmakers to draft legislation to alter parkland designation.<\/p>\n<\/div>\n

New York Mets owner Steve Cohen and Hard Rock International face a similar issue in Queens where State Sen. Jessica Ramos (D-Queens)<\/a> recently said she won\u2019t support parkland alienation legislation for Willets Point.<\/p>\n

Kim, whose hedge fund is the largest Bally\u2019s shareholder and who is attempting to acquire the gaming company, said in the media interview that the operator is excited about its prospects in the Bronx and realizes that the process takes time.<\/p>\n

Bronx Casino Far from Done Deal<\/h2>\n

Assessing exactly where Bally\u2019s ranks among the 11 bidders for the trio of downstate casino permits is difficult, but consensus has held that MGM Resorts International\u2019s Empire City in Yonkers and Resorts World New York in Queens are almost guaranteed to win two of those permits.<\/p>\n

There\u2019s been chatter suggesting that Las Vegas Sands (Nassau County) and Wynn Resorts (Hudson Yards) are among the more credible contenders for the third permit.<\/strong><\/p>\n

Additionally, some investors are concerned that Bally\u2019s is juggling too many issues at the moment, including the aforementioned takeover bid and bringing its permanent Chicago casino<\/a> across the finish line. At least one Bally\u2019s shareholder has suggested the company should scrap its New York plans in an effort to save cash.<\/p>\n","protected":false},"excerpt":{"rendered":"

Although it still needs some help from some politicians, Bally\u2019s (NYSE: BALY) is bullish on its prospects to land a permit to develop a casino hotel in the Bronx, NY. Last year, the Rhode Island-based regional casino operator acquired the lease rights to the golf course formerly known as Trump Golf Links at Ferry Point […]<\/p>\n","protected":false},"author":46,"featured_media":306533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,61,86438,13592],"tags":[81897,81901,86457,81895],"acf":[],"yoast_head":"\nBally\u2019s Sounds Positive Tone on Bronx Casino Prospects<\/title>\n<meta name=\"description\" content=\"Bally\u2019s Sounds Positive Tone on Bronx Casino Prospects.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bally\u2019s Sounds Positive Tone on Bronx Casino Prospects\" \/>\n<meta property=\"og:description\" content=\"Bally\u2019s Sounds Positive Tone on Bronx Casino Prospects.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-11T21:27:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-12T15:24:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/01\/BL3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/\",\"url\":\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/\",\"name\":\"Bally\u2019s Sounds Positive Tone on Bronx Casino Prospects\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/01\/BL3.jpg\",\"datePublished\":\"2024-06-11T21:27:51+00:00\",\"dateModified\":\"2024-06-12T15:24:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Bally\u2019s Sounds Positive Tone on Bronx Casino Prospects.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/ballys-sounds-positive-tone-on-bronx-casino-prospects\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/01\/BL3.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/01\/BL3.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Bally's Links in the Bronx, NY. 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