The battle for commercial gaming licenses in downstate New York is getting more and more competitive. Soloviev Group which has previously expressed interest in bringing a casino to Manhattan, NYC, announced this week that leading land-based operator Mohegan Gaming has joined its project. The two share similar values which makes them a great fit for the bid.
Last year, the Empire State fast-tracked the issuance of the three available casino licenses in the downstate region. Fast-forwarding to this January, the Gaming Facility Location Board, which is responsible for reviewing possible locations announced the start of the Request for Applications which allows interested parties to submit their bid for consideration.
Partnering for the
Ray Pineault, CEO and President of Mohegan Gaming noted that the company is popular for its broad range of unique experiences and exceptional services for its millions of patrons. He continued by saying that the firm’s rich Mohegan heritage lays the foundations of how it operates its business and guides it towards commitment to employees, guests, partners, and communities.
Soloviev Group’s project is titled Freedom Plaza which is set to feature the first museum dedicated to the celebration of freedom and democracy. The site is also taken into consideration by local communities as it will come with a massive green area, a premium entertainment venue, a Ferris Wheel, a 1,000+ premier hotel, and two residential towers, which will help the city’s shortage of housing.
The current immediate surrounding area of the proposed site is massively undeveloped in terms of real estate, hence allowing an opportunity for access without undue disruption. Other pluses are the connection to the Franklin D. Roosevelt East River Drive and numerous bus stops, the project will also be a short walk from the 34th Street ferry and the Grand Central Station.
In addition to that, another important aspect of the project would be the fact that it would create thousands of well-paid jobs in the construction process and after opening and bring millions in tax revenue for the state. The two companies are hopeful that the coalition of the Soloviev and Mohegan brands will provide a compelling bid in their pursuit of a license.
Easier Said than Done
Despite their appealing proposal, the two parties will still have to overcome plenty of competition for a downstate license. In January 2023, leading integrated resort company, Las Vegas Sands also expressed interest in joining the NY gambling landscape. The company’s bid would pursue the development of a multi-billion-dollar hospitality, and entertainment project on Long Island, NY.
Another candidate is Saks Fifth Avenue, which recently submitted a bid to be in contention for one of the available licenses. For its project, the department store would convert its upper floor into a casino and attract visitors and tourists from all around the world. It has already invested significant time and energy into a strategic plan to most effectively and positively bolster the experience for guests.
Source: “Mohegan Named Casino Operator for Soloviev Group’s NYC Casino Bid” PR Newswire, January 31, 2023