Bally’s Kim Claims NYC Casino Development Bid Is Overlooked Due to Trump

Bally’s Corporation Chairman Soo Kim firmly believes that his company’s application for a casino licence in downstate New York is being unfairly affected by President Donald Trump’s perceived involvement. As Bally’s seeks to establish a casino resort in the Bronx, Kim points out the complexities arising from casino development and Trump’s historical ties to the area’s golf links.

Bally’s Ambitious Plans

• Location: Proposed construction at Ferry Point Park in the Bronx.
• Size: A multibillion-dollar project with a 500-kilometre square casino space.
• Gaming Options: 5,100 gaming positions including slots and table games.
• Accommodations: A planned 500-room hotel to support casino operations.
• Facilities: Additional amenities will include a 2,000-seat event centre and full-service spa, alongside expansive parking for 4,700 vehicles.

In 2023, Bally’s secured the lease for the golf course at Ferry Point Park from the Trump Organization in a deal estimated at $60 million. Notably, this deal involves a clause that could see Trump receiving an extra $115 million should Bally’s be granted permission to build a casino in this location.

Governmental Roadblocks

New York state lawmakers have recently enabled legislation that allows parkland to be repurposed for other developments, paving the way for competitor Steve Cohen’s casino plans at Citi Field. In contrast, Kim argues that his appeal for similar treatment has not been met with the same enthusiasm.

Approval from the city is essential for Bally’s to proceed with their casino project. However, a recent failure to secure a vote from the City Council on the Bally’s proposal has left Kim frustrated. He believes that political bias linked to Trump’s ties is a significant hindrance. Kim expressed disappointment in the council’s decisions, stating:

“They’re saying, ‘If Bally’s wins, Trump benefits.’ That’s ludicrous. Without a council vote, our project cannot move forward.”

Time is Running Out

The deadline for submissions for bids to secure one of the three available downstate New York gaming concessions, which include sports betting and table games, is set for June 28. The clock is ticking as the City Council’s legislative session continues until September. There must be urgency in Bally’s dealings to ensure they do not lose out on a potentially lucrative opportunity.

Conclusion

Soo Kim’s insistence on the challenges facing Bally’s is emblematic of the current competitive landscape for casino projects in New York City. As Bally’s continues to push for approval amid political hurdles and community dynamics, the outcome and its implications for the Bronx community and greater New York will remain a hot topic in discussions surrounding gaming and local authorities. The intricacies of gaming approvals in New York City underline the intersection of politics and corporate ambitions in the entertainment sector.