As New York eagerly awaits the announcement of its three downstate casino licensees, the stakes have never been higher. Among the key contenders for one of these coveted licenses is Bally's Corporation, which, if successful, could end up paying Donald Trump a massive $115 million windfall.
This lucrative deal is tied to Bally's plan to open a casino at Ferry Point, a public golf course in the Bronx once managed by the Trump Organization.
The Deal Behind Trump's Potential Payday
Trump first acquired the rights to manage Ferry Point Golf Course back in 2012. However, in 2022, Bally’s purchased the rights to operate the 18-hole course for $60 million. As part of a separate agreement, Bally’s has committed to paying Trump an additional $115 million if they win the bid to open a casino at the site.
Companies getting crazy and push for Casino in New York city
This nonrefundable payment is described as a “gaming event fee” and could result in a significant financial boost for the former president. The agreement was disclosed as part of an ongoing legal case where Trump faces allegations of inflating the value of his assets.
The Competition for New York’s First Full-Service Casino
With at least 11 bidders vying for the chance to build what would be New York's first full-service casino, the competition is fierce. This expansion is part of the state’s broader effort to revitalize its economy by tapping into the booming gaming industry.
For Trump, this deal represents a massive opportunity. As the bidding process unfolds, all eyes are on whether Bally’s will secure one of the licenses and make Trump a major winner in this high-stakes game.
