Images courtesy of Bally’s Bronx
Bally’s Corporation has officially purchased the Bronx parkland where it will build one of New York City’s three new casinos after the company secured a gaming license in December. As first reported by the Commercial Observer, the company last week purchased the 16-acre parcel at 450 Hutchinson Parkway in Throggs Neck—formerly leased to Donald Trump—from the city for $156.6 million. The proposal survived a City Council vote that initially denied a crucial rezoning, a decision later overridden by a veto from former Mayor Eric Adams, keeping the project alive.
Bally’s plans to build a three-million-square-foot gaming complex featuring a 500,000-square-foot casino, a 500-room hotel with a spa and meeting space, a 2,000-seat entertainment venue, and two parking garages accommodating up to 4,660 vehicles, as 6sqft previously reported.
The parcel was formerly Golf Links at Ferry Point Park and was previously leased to the Trump Organization. In 2023, Bally’s Corporation bought out the organization’s 20-year lease for an undisclosed amount, according to The Real Deal. Under the agreement, Trump is set to receive a $115 million payout now that Bally’s has secured its gaming license.
In December, Bally’s proposal received a downstate gaming license along with three other plans, marking the end of a lengthy approval process that saw many prominent developers and architects and their extravagant plans rise and fall.
Other approved proposals include New York Mets owner Steve Cohen’s “Metropolitan Park” across from Citi Field, and Resorts World NYC at the Aqueduct Racetrack in Jamaica, Queens.
The three winning plans were chosen from a large field of high-profile bids from some of the city’s most influential developers. Competing bids included Bjarke Ingels-designed Freedom Plaza near the U.N., “The Avenir” across from the Javits Center, a Jay-Z-backed casino in Times Square, a proposal in Coney Island called “The Coney,” and MGM Empire City in Yonkers.
As part of the approval process, each company has agreed to allow an independent monitor to ensure their facilities honor the commitments made to their respective communities. The three winning bids must also pay a $500 million license fee up front as well as annual slot-machine and table-game license fees and taxes on their gaming revenue.
Bally’s has committed $4 billion to the project, a factor that notably limits the length of its license. Unlike the other approved casino proposals, Bally’s gaming license is valid for only 15 years, as reported by The Real Deal.
While Bally’s proposal ultimately secured a license, its fate was not always certain. In July, the Bronx casino survived a City Council vote that denied a critical rezoning, a decision that threatened to halt the project. Following former Mayor Eric Adams’ veto, the proposal was kept alive and went on to become one of the three final contenders.
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