The New York State Gaming Commission is treading carefully as it reviews bids for the highly anticipated casino licenses in New York City, following recent scandals involving two major casino operators in Las Vegas.
The betting watchdog has flagged concerns about Wynn Resorts and Resorts World Las Vegas, citing instances of non-compliance with gaming regulations and allegations of misconduct at both properties.
Wynn Resorts, which operates high-end casinos in Las Vegas and Macau, faced heavy scrutiny in 2018 after allegations of sexual misconduct against founder and former CEO Steve Wynn surfaced. The scandal rocked the company and ultimately led to Wynn’s resignation, but not before tarnishing the company’s reputation.
Resorts World Las Vegas, a new resort on the Las Vegas Strip that opened in June 2021, also came under fire recently for failing to disclose a key concession agreement with the government of the Bahamas. The omission raised concerns about the operator’s transparency and willingness to follow regulatory protocols.
These incidents have put a spotlight on the need for rigorous oversight of the casino industry, especially as New York prepares to award licenses for up to three casinos in the city. The bids for these licenses are expected to be highly competitive, with major players like MGM Resorts, Caesars Entertainment, and Las Vegas Sands vying for a piece of the lucrative market.
The Gaming Commission is taking a cautious approach to vetting the potential operators, conducting thorough background checks and scrutinizing their compliance records. The recent scandals in Las Vegas serve as a reminder of the risks associated with gambling and the importance of holding operators accountable for their actions.
While the commission has not ruled out any bidders based solely on these concerns, it is clear that operators with a history of regulatory issues will face heightened scrutiny in the evaluation process. The ultimate goal is to ensure that the chosen operators have the integrity and responsibility to operate a successful and sustainable casino in the heart of New York City.
As the deadline for submitting bids approaches, all eyes will be on the gaming commission to see how they navigate the complex landscape of the casino industry and make decisions that prioritize the interests of New York residents and the integrity of the gaming industry as a whole. Only time will tell which operators will come out on top in the fiercely competitive race for the coveted NYC casino licenses.