New York City Casino Bidders Fueled Record Lobbying Spend in 2024
The casino firms competing for the three downstate New York gaming licenses to be granted this year invested millions in lobbyists who lobbied city officials on their behalf.
The Lobbying Bureau Annual Report was recently released by the New York City Council Clerk’s Office. The 66-page report details the amount of money spent on lobbyists in the city during the previous year.
The year 2024 was unprecedented, with total lobbying in New York City hitting a record high exceeding $138.3 million. The remarkable expenditures, rising by over $7 million compared to the previous year, were driven by the gaming sector and individuals eager to participate in New York City's upcoming casino market.
Six of the ten largest expenditures were associated with casino firms and individuals such as billionaire Steve Cohen.
Cohen is aiming to establish a multibillion-dollar Hard Rock hotel and casino at his Mets MLB ballpark in Queens through a partnership with Hard Rock International. Cohen's organizations invested more in lobbying New York City than any other group last year. Cohen’s Queens Future, LLC, distributed $1,862,534.67 among 14 lobbying firms.
Cohen's lobbying funds seem to have been effective, as a city council committee will discuss an essential land-use modification required for a casino project at Willets Point tomorrow, Thursday, March 6.
Casino Expenditure
The NYC report indicated that 636 lobbyists submitted statements for 2024. Those advocates represented 2,267 clients. Lobbyists spent $208,100 on registration fees with the city.
Together with Queens Future, five additional clients vying for one of the three casino licenses were listed among the top 10 lobbying expenditures.
Malaysia’s Genting Group secured the second position with $990K. The company aims to transform its Resorts World New York City racino in Queens, close to JFK International Airport, into an extensive casino featuring slot machines, live dealer games, and sports wagering.
The third was Bally’s Corporation, which has suggested a combined resort casino project in the Bronx close to the Bally’s Golf Links at Ferry Point, which it oversees for the city.
Coming in fourth in casino lobbying was East River Realty Company, LLC, which aims to acquire a casino license on Manhattan’s East Side, just south of the United Nations Headquarters. East River Realty, in partnership with the Soloviev Group and their gaming associate, Mohegan, invested $613K in lobbying efforts.
TSG Coney Island Entertainment Holdco, LLC, affiliated with Thor Equities, Saratoga Casino Holdings, the Chickasaw Nation, and Legends, is pursuing a gaming concession for the development of a casino resort in Coney Island. The LLC incurred expenses of $488,377 for the endeavor.
Wynn Resorts, a competing developer of casinos in New York City, invested $411,009 in lobbying for its casino plan at Hudson Yards.
The report from NYC detailed that the primary targets for lobbyists were council members and their aides, Mayor Eric Adams and his team, the planning department, along with community boards.
Preferred Abstains from Lobbying
MGM Resorts is viewed as the top contender for one of the concessions. Since 2019, MGM has been running the Empire City Casino at Yonkers Raceway.
MGM did not appear in the 2024 city lobbying report. Other casino companies anticipated to participate in the bidding, which were not significant spenders on lobbying last year, consist of Las Vegas Sands and Caesars Entertainment.
MGM has unveiled plans to spend $5 billion to transform the racino that now features slot-like video lottery machines and electronic games into a fully developed casino that appears to be taken from the Las Vegas Strip and situated just north of Manhattan.
