Trump out
Giant stone letters spelling Trump Links are to be erased from the New York City countryside, much to the delight of one particular New York City Parks official.
NYC Department of Parks and Recreation Comptroller Brad Lander expressed his joy after Bally’s Corporation and the real estate arm of ex-President Donald Trump’s business empire agreed on a deal. Bally’s will buy the lease for Trump Golf Links at Ferry Point.
In a statement, Lander said:
I am delighted that Trump’s name will no longer deface city parkland.”
Lander’s office was involved in approving the deal in which the Trump Organization transferred its 10+ year lease on the Bronx golf course to Bally’s. He conveyed his belief that the deal signals the end of the Trump Links name, while his office said it expects a smooth transition to the new owner.
Bally’s bets big
In February, sources revealed Bally’s had reached a deal with the Trump Organization to acquire its lease for 17 of the 300 acres of Trump Links. Instead, Bally’s has taken the entire property off Trump’s hands, including the golf links.
Bally’s may now be a strong candidate for one of three NY casino licenses
The Rhode Island-based firm has plans for the development of a Bronx casino on the land, reportedly committing $2.5bn towards the project. The confirmed Trump Links deal means Bally’s may now be a strong candidate for one of three NY casino licenses to be announced in November.
It’s been widely reported that Genting Group’s Resorts World New York City and Yonkers’ Empire City Casino in Queens practically have their NY casino licenses in the bag because they have existing infrastructure downstate. Now Bally’s also has that existing infrastructure.
Final stretch
While Bally’s may have gotten the drop on other NYC casino bids for now, the final stretch may hold more surprises from the competitors.
NYC casino bidders include Caesars Entertainment-SLG’s bid for Times Square, Wynn Resorts-Related Companies pitch for Hudson Yards, New York Mets owner Steven Cohen’s proposed site near Citi Park, the Soloviev Group’s Midtown East bid, Thor Equities Group’s Coney Island pitch, and Saks Fifth Avenue’s casino bid for East 49th and East 50th.