A high-stakes competition to determine who will be awarded one of three coveted casino licenses in New York City could potentially net former President Donald Trump a $115 million payout. This windfall is tied to Bally’s Corp., which aims to open a casino on a city-owned golf course that was previously managed by Trump’s company.
In 2023, Bally’s paid Trump $60 million for the rights to operate the public 18-hole course on the Bronx shoreline, near the East River and Long Island Sound. Shortly after taking over, Bally’s removed the prominent “Trump Links” signage and rebranded the course as Bally’s Golf Links at Ferry Point.
However, a little-known side agreement stipulates that Bally’s will pay Trump an additional $115 million if the company secures a casino license for the site. This arrangement was disclosed in court documents during a trial where New York state alleged that Trump had misrepresented the value of his assets on financial statements provided to banks. The document referred to the $115 million payment as a “gaming event fee.”
Bally’s has not responded to requests for comment.
Trump’s financial interest in Bally’s project adds an unpredictable element to New York’s casino licensing process, which has attracted at least 11 competitors vying to build the city’s first full-service casino. Major contenders include Caesars Palace, which plans to set up in Times Square; the owner of Saks Fifth Avenue, proposing a casino atop the luxury department store in Manhattan; and Steve Cohen, the New York Mets owner, who wants a casino near Citi Field in Queens. Other proposals include casinos in Coney Island, at the former New York Islanders arena in Long Island, and in new Manhattan skyscrapers.
Two additional bidders aim to expand existing operations: MGM Resorts plans a major upgrade of its Empire City racino in Yonkers, and Genting hopes to invest billions in expanding its Resorts World racino near Aqueduct Raceway in Queens. These venues currently offer only slot machines and select machine-based games.
It remains unclear how Trump’s connection to one of the bidders might influence the selection process. Applications for casino licenses are due by late June and will be reviewed by community advisory committees appointed by the governor, mayor, and other state and local officials. These committees will assess local support or opposition before the proposals are sent to the state gaming board, which aims to announce the license winners by year’s end.
Applicants must also secure zoning or land-use approvals, depending on the project’s location. Bally’s plan would require state legislation to permit casino development on public parkland.
Given Trump’s controversial reputation in New York, his involvement could either hinder Bally’s bid or be leveraged as a bargaining tool. New York Governor Kathy Hochul has previously clashed with Trump over issues like immigration, subway funding, and a Manhattan tolling program. Additionally, Trump’s administration had sought to revive a halted natural gas pipeline project through New York, which could further complicate matters.
Mayor Eric Adams is also under scrutiny to demonstrate political independence after the Justice Department dropped a corruption case against him, allowing him to support Trump’s immigration policies.
Trump initially acquired the rights to manage Ferry Point in 2012, with the city investing over $120 million to develop the Jack Nicklaus-designed course on a former landfill. The project aimed to create an East Coast counterpart to Pebble Beach in California, though it never hosted major tournaments as planned.