ALBANY, N.Y. — A high-stakes competition to determine the future of casino development in New York City could yield a substantial financial benefit for former President Donald Trump, with potential earnings of $115 million on the line.
Trump stands to profit significantly if state authorities award one of three available gaming licenses to Bally’s Corp., which aims to establish a casino at a city-owned golf course previously operated by Trump’s organization.
In 2023, Bally’s secured the rights to operate the public 18-hole course on the Bronx shoreline for $60 million, strategically located near the East River and Long Island Sound. The iconic “Trump Links” sign has since been removed and the course has been rebranded as Bally’s Golf Links at Ferry Point.
In a notable side agreement, Bally’s committed to an additional $115 million payment to Trump if granted the casino license, which is described as a nonrefundable “gaming event fee.”
This agreement was publicly revealed during a trial concerning allegations that Trump misrepresented the value of his assets on financial documents provided to banks. Bally’s did not respond to requests for further information.
Trump’s involvement in Bally’s project introduces an unpredictable factor into New York’s ongoing casino licensing process. At least 11 bidders are competing to establish the first full-service casino in New York City and its surrounding areas.
Notable contenders include Caesars Palace, which is proposing a Times Square casino; a group planning to build a casino atop Saks Fifth Avenue; and Steve Cohen, owner of the New York Mets, who has plans for a casino adjacent to the baseball team’s stadium in Queens.
Additional bidders, such as MGM Resorts, aim to upgrade existing facilities, while Genting is exploring a multibillion-dollar expansion of its Resorts World racino in Queens. These venues are currently limited to slot machines and certain other games due to existing regulations.
The impact of Trump’s association with Bally’s on the selection process remains uncertain. Applications for casino licenses are due to a state board by late June, which will first review community feedback through advisory committees appointed by state and local officials. The gaming board anticipates awarding licenses by year-end.
Successful applicants will also need to navigate zoning or land-use approvals depending on the project specifics. Bally’s plans may require legislative support to build on public parkland.
While the federal government is not involved in the casino license selection, Trump’s contentious relationship with many New York officials potentially poses a challenge for Bally’s bid. Furthermore, Trump’s financial interests may become leverage in negotiations.
New York Governor Kathy Hochul’s previous disagreements with Trump’s administration over issues such as immigration policy, subway funding, and energy projects could impact Bally’s prospects. Simultaneously, Mayor Eric Adams faces scrutiny to demonstrate political independence amid ongoing investigations.
Trump originally acquired management rights for Ferry Point in 2012, when the city invested over $120 million to transform the former landfill into a premier golf course designed by Jack Nicklaus, aimed at hosting major championships that ultimately did not occur.
