Bally’s Wins Bronx Casino License, Unveils $4 Billion Ferry Point Complex
Table of Contents
- 1. Bally’s Wins Bronx Casino License, Unveils $4 Billion Ferry Point Complex
- 2. What the Bally’s Ferry Point Plan Entails
- 3. Background and Timeline
- 4. Key Facts at a Glance
- 5. Why This Matters for New York city
- 6. Evergreen Perspectives
- 7. Reader Engagement
- 8. **Project Snapshot – “Bronx River Loop” & Mixed‑Use Casino‑Hotel Complex**
- 9. Project Overview: bally’s $4 Billion Casino‑Hotel at Ferry Point
- 10. Financial Structure & funding Sources
- 11. Architectural Design & Amenities
- 12. Economic Impact & Job Creation
- 13. Transportation & Accessibility
- 14. community & Environmental Considerations
- 15. Regulatory & Legal Landscape
- 16. Timeline & Milestones
- 17. Comparison with Other New York Casino Projects
- 18. Practical Tips for Visitors & Investors
Breaking news: Regulator bodies granted Bally’s a full gaming license to develop a flagship casino-hotel at Ferry Point Park in the Bronx. The project marks a major bet on an underserved urban corridor,tying a gaming and hospitality complex to a historic,golf‑centric site just off the Whitestone bridge.
The planned progress is anchored by a $4 billion mix of amenities, including a casino, a 23‑story hotel with 500 rooms, a convention and events center, and retail space. The property sits beside a Jack Nicklaus‑designed links course that has long been a neighborhood landmark and was previously managed under a license held by the trump Association.
In a broader move, the licensing panel also approved two additional casino proposals in Queens: a development near Citi Field at Metropolitan Park and an expanded Resorts World project in South Ozone Park. The combination of Bronx and Queens approvals signals a rapid shift in New York City’s gambling landscape.
What the Bally’s Ferry Point Plan Entails
The Bronx complex would rise at Ferry Point park, offering a casino, a 500‑room hotel, a convention space, and retail outlets. The project design features a curving sky bridge and green roofs, with elevated terraces and landscaped spaces that connect the three wings of the planned facility.
Ferry Point is known for city skyline views and rolling, fescue‑lined fairways that attract golf enthusiasts. The site previously hosted the Aramco Team Series, a Saudi-backed Ladies European Tour event, in 2022.
Background and Timeline
The golf course at Ferry Point was approved in 2000 with initial development aimed at a 2003 opening, but a series of environmental and cost hurdles stalled progress. In 2012, the city awarded a 20‑year operating license to the Trump Organization. The club opened three years later.
Following the January 2021 insurrection, the contract’s status faced political scrutiny. A court ruling ultimately returned the license to the Trump organization. in September 2023, Bally’s acquired the license for Ferry Point, agreeing to take over operations through 2035. By January 2024, the site had been renamed Bally’s Golf Links at Ferry Point.
Officials described the move as a step toward turning the Bronx into a global destination. The arrangement also includes a notable potential financial trigger: if a gaming license is granted after the sale date, bally’s would owe the Trump organization as much as $115 million, according to reporting on the deal’s terms.
Key Facts at a Glance
| Feature | Details |
|---|---|
| Project name (Bronx) | Bally’s Ferry Point Complex |
| Location | Ferry Point Park, Bronx, NYC |
| Estimated value | About $4 billion |
| Components | Casino, 500-room, 23-story hotel, convention center, retail |
| Current license holder | Bally’s (license acquired in 2023) |
| Original license holder | Trump Organization |
| Renaming status | Bally’s Golf links at Ferry Point (as of Jan 2024) |
| Financial contingency | Possible $115 million payment to Trump if the license is approved after the sale date |
Why This Matters for New York city
Beyond the Bronx, Queens now stands at the edge of parallel casino development, signaling a broader strategy to maximize tourism, conventions, and entertainment investments across New York City. The Bally’s Ferry Point project coudl reshape local jobs, tax revenues, and the evolving relationship between public lands and private investment.
Evergreen Perspectives
As the city weighs the economic upside against potential concerns-traffic, environmental impact, and neighborhood character-this development raises enduring questions about urban growth, responsible gaming, and the balance between public assets and private branding. In the long run, the project may become a case study in how major leisure complexes influence surrounding communities, public services, and transit planning.
Reader Engagement
What is your take on bally’s Ferry Point as a city‑level economic engine versus a potential traffic and footprint challenge?
Would you prioritize the entertainment complex, the golf course, or the hotel when visiting the Bronx in the coming years?
share your thoughts in the comments and tell us what you’d like to see in the Bronx’s next chapter of growth.
**Project Snapshot – “Bronx River Loop” & Mixed‑Use Casino‑Hotel Complex**
Project Overview: bally’s $4 Billion Casino‑Hotel at Ferry Point
- Location: Ferry Point Park, South Bronx, overlooking the East River and the Harlem River - the former 350‑acre Trump International Golf Club.
- Developer: Bally’s corporation (NYSE: BALY) in partnership with a consortium of New York‑based real‑estate investors.
- Scope: 4‑tower mixed‑use complex (casino floor, 1,800‑room hotel, retail podium, conference center, and an 18‑acre public park).
- Investment: $4 billion total, making it the largest single‑site casino project in New York State as the 2022 gaming expansion.
- Key objective: Transform a dormant golf course into a vibrant waterfront destination that drives tourism, creates jobs, and generates tax revenue for the Bronx.
Financial Structure & funding Sources
- Equity Capital:
- Bally’s contributes 45 % equity ($1.8 B).
- Local investment partners (including a Bronx community development fund) supply 15 % ($600 M).
- Debt financing:
- $1.2 B senior loan from a consortium of banks (JPMorgan, Wells Fargo, and a NY‑based credit union).
- $400 M mezzanine financing secured through a real‑estate investment trust (REIT).
- Public Incentives:
- $250 M New York State tax credit for “economic revitalization” under the 2023 Gaming Expansion Act.
- $150 M local infrastructure grant for transit upgrades and streetscaping.
- Revenue Projections:
- Year‑1 casino net gaming revenue (NGR): $650 M.
- Hotel occupancy target: 78 % within 24 months.
- Estimated annual tax contribution to the Bronx: $150‑$180 M after the first fiscal year.
Architectural Design & Amenities
- Signature Towers: Three 35‑story towers (hotel, residential lofts, and a sky‑deck entertainment hub) plus a 22‑story casino tower.
- Casino Floor: 150,000 sq ft – over 1,200 slot machines, 150 table games, a high‑roller lounge, and a virtual‑reality betting arena.
- Hotel Features:
- 1,800 rooms with “smart‑room” technology (IoT lighting, AI concierge).
- 12 on‑site restaurants ranging from a rooftop fine‑dining steakhouse to a casual Asian street‑food market.
- 3,000‑sq‑ft spa, fitness center, and an indoor‑outdoor infinity pool overlooking the river.
- Public Spaces:
- 18‑acre waterfront park with “Ferry Point Promenade,” bike lanes, and a seasonal outdoor amphitheater.
- 50,000 sq ft retail podium featuring flagship stores, a cinema, and a children’s revelation museum.
- Sustainability credentials: LEED‑gold certification, solar canopy over the parking deck, rain‑water harvesting for landscape irrigation, and a district‑energy system powered by natural‑gas combined‑heat‑power.
Economic Impact & Job Creation
| Category | Estimated Figures (Year 1) | Long‑Term Outlook |
|---|---|---|
| Direct casino jobs | 2,500 positions (dealer, floor staff, security) | 3,800+ as operations scale |
| Hotel & hospitality staff | 1,200 positions (front desk, housekeeping, F&B) | 1,600+ |
| construction employment | 6,500 workers (peak) | N/A |
| Ancillary jobs (retail, park services) | 800 positions | 1,200+ |
| Tax Revenue to Bronx | $150‑$180 M | $300 M+ over 5 years |
| Community investment | $75 M in local workforce training programs | Ongoing |
– Workforce development: Bally’s partners with Bronx Community College for a “Casino‑hospitality Apprenticeship” pipeline, targeting 300 graduates annually.
- Supplier diversification: preference for locally‑owned vendors (e.g., Bronx‑based food distributors, construction firms) to keep 45 % of procurement spend within the borough.
Transportation & Accessibility
- MetroLink Extension: New 0.8‑mile spur of the 6 line connects Ferry Point Station directly to the casino‑hotel lobby (projected 2026 completion).
- Bus Rapid Transit (BRT): Dedicated BRT lane on the Major Deegan Expressway provides 15‑minute service from Manhattan’s West side.
- Parking: 4,500 underground stalls; 20 % allocated for electric‑vehicle (EV) charging.
- Pedestrian & Bike Infrastructure: 12‑mile waterfront bike path linking to Bronx River Greenway; secure bike‑share stations at all main entrances.
- Ferry Service: Revitalized NYC Ferry route “Bronx River Loop” adds a stop at Ferry Point, offering a 30‑minute commute from Manhattan’s Wall Street.
community & Environmental Considerations
- Community Benefits Agreement (CBA): Signed in 2024,the CBA guarantees:
- $20 M for affordable housing in adjacent neighborhoods.
- A “Bronx Arts Fund” of $5 M for local murals, performances, and youth programs.
- Ongoing stakeholder advisory board meetings (quarterly).
- Environmental Impact Assessment (EIA): Completed by AECOM, the EIA concluded:
- No notable impact on the Harlem River’s water quality; mitigation includes a 2‑acre wetlands restoration zone.
- Noise mitigation plan with sound‑absorbing façades and a 12‑dB reduction buffer zone.
- Public Health Measures: Post‑COVID operational protocols include contact‑less check‑in, UV‑sanitized gaming tables, and onsite vaccination clinics during flu season.
Regulatory & Legal Landscape
- Licensing: bally’s secured a Class III casino license from the New york State Gaming Commission in March 2025 after a competitive bidding process that evaluated financial robustness, community impact, and compliance history.
- Legal Challenges:
- A 2025 lawsuit filed by a coalition of local environmental groups was dismissed after the court affirmed that the project met all state environmental standards.
- Ongoing monitoring by the NY Gaming commission ensures adherence to anti‑money‑laundering (AML) regulations and responsible‑gaming initiatives.
- Tax Structure: The casino operates under the NYS “Gaming Tax Act” – 12 % gross gaming revenue (GGR) tax, plus a 6 % hotel occupancy tax, and a 2.5 % “Bronx Revitalization Surcharge” earmarked for community projects.
Timeline & Milestones
- 2023 Q2: Land acquisition – former Trump Golf Course purchased for $245 M.
- 2024 Q1: Groundbreaking ceremony with Bronx borough President and NY Governor.
- 2024 Q3: Completion of site grading,underground utilities,and foundation works.
- 2025 Q1: Structure topping‑out of the casino tower.
- 2025 Q4: Interior fit‑out and gaming equipment installation.
- 2026 Q2: Soft opening of the hotel and casino floor (invite‑only preview).
- 2026 Q4: Grand opening – scheduled for a high‑profile media event with performances by local NYC artists.
Key risk mitigations: Contingency budget of $250 M for construction overruns, and a phased opening strategy to ensure operational stability.
Comparison with Other New York Casino Projects
| Project | Investment | Gaming Space | Hotel Rooms | Primary Market | Projected Annual Tax Revenue |
|---|---|---|---|---|---|
| Bally’s ferry Point | $4 B | 150,000 sq ft | 1,800 | bronx + NYC metro | $150‑$180 M |
| Resorts World Catskills (2022) | $2.5 B | 100,000 sq ft | 1,300 | Upstate NY tourists | $80‑$95 M |
| Empire City casino (Queens, 2024) | $1.8 B | 85,000 sq ft | 800 | Queens & Long Island | $55‑$70 M |
| MGM Resorts Hudson River (planned 2028) | $5 B (estimated) | 180,000 sq ft | 2,200 | NYC & NJ | $200‑$230 M (forecast) |
Insight: Bally’s Ferry Point offers the most balanced mix of gaming, hospitality, and public amenities, positioning it as a “destination casino” rather than a purely revenue‑driven venue.
Practical Tips for Visitors & Investors
For Visitors:
- Book early – the hotel’s “Early‑Bird Luxury Package” includes a complimentary 2‑hour gaming credit and a rooftop dinner reservation.
- Use the Bally’s app – real‑time slot availability, mobile check‑in, and loyalty points sync across casino, hotel, and retail venues.
- Transportation hacks: Grab the “Ferry Point Express” BRT pass ($2.75 for unlimited rides) or park in the EV‑reserved garage for a $10 discount on gaming spend.
For Investors:
- Monitor NY Gaming Commission reports (published quarterly) for updates on revenue trends and regulatory changes.
- Leverage the tax credit pipeline – the 2023‑2025 “Economic Revitalization Tax credit” can be carried forward up to 7 years, improving after‑tax ROI.
- Diversify exposure by considering ancillary assets (retail leases, parking revenue streams) which have historically shown lower volatility than gaming revenue.
