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Bally's Casino in New York Could Provide Windfall to President Trump

Ziv Chen

Last Updated: April 4, 2025 2:57 PM EDT • 1 min 58 sec read.

Bally's Casino in New York Could Provide Windfall to President Trump
Pictured: President Donald Trump during the Division I Men's Wrestling Championship held at Wells Fargo Center. Photo by Eric Hartline via Imagn Images.

President Donald Trump could receive a significant financial windfall - up to $115 million - if Bally's Corporation secures one of three full-scale casino licenses currently up for grabs in New York City.

NBC affiliate NBC 4 New York reports that the potential payout stems from a side agreement linked to Bally's bid to develop a casino at the city-owned Ferry Point golf course in the Bronx, a site formerly operated by the Trump Organization.

In 2023, Bally's paid $60 million to take over operations of the 18-hole public course near the East River and Long Island Sound intersection. The deal included rebranding the site, removing the prominent "Trump Links" signage, and renaming the property "Bally's Golf Links at Ferry Point." 

However, a separate contractual clause uncovered during a legal dispute between President Trump and the New York Attorney General over alleged asset inflation revealed that Bally's also agreed to pay an additional $115 million if the company wins a casino license for that site.

The payment, characterized in documents as a "gaming event fee," would be nonrefundable and contingent upon Bally's obtaining one of the coveted gaming licenses. 

The bidding war for New York City's casino licenses has attracted considerable attention. At least 11 groups have expressed interest, including Mets owner Steve Cohen, who is pursuing a casino project adjacent to Citi Field in Queens. The new brick-and-mortar operations will be highly sought after in a state with no real-money online casino market.

Meanwhile, two existing venues operating as "racinos" - limited to slot machines and electronic table games - aim to convert into full-service casinos. MGM Resorts seeks to upgrade its Empire City facility in Yonkers, while Genting proposes a multibillion-dollar expansion of its Resorts World complex in Queens.

Casino proposal review process underway

Each proposal must go through a two-stage approval process. First, local advisory boards consisting of appointees from the governor, mayor, and state and local officials will evaluate community feedback and political considerations. 

The final decision rests with the New York State Gaming Commission, which aims to issue licenses by year's end. Formal applications are due by late June.

Bally's plan faces additional hurdles beyond the competition and local opposition. Since the Ferry Point site is classified as public parkland, any casino development would require legislative approval to rezone the area for commercial gambling. This necessitates action by the state Legislature, a politically sensitive process given the scrutiny surrounding parkland use and urban development.

As a private citizen at the time, President Trump took control of Ferry Point's operations in 2012, when the city sought a private operator to manage the high-profile course. The course, built on top of a previous dump site, cost more than $120 million in taxpayer funds and was intended to host high-profile golf tournaments. Although its vision was ambitious, the course never reached the level of prestige or event bookings that city planners had hoped for.

The New York gaming landscape could see significant changes in the future, with a ban on sweepstakes casinos under consideration by lawmakers.

Written By:
Ziv Chen
Ziv has over two decades of experience in the igaming and sports betting industry, having served in senior marketing and business development positions with both B2C and B2B companies, including Playtech and Microgaming. In 2019, Ziv decided to pursue his passion for writing and became a fulltime industry journalist, covering casino, sports, and gambling business news. He’s specialties include casino games and technology, US state gambling regulation, company performance, as well as gambling affiliates and marketing. As a Pitt graduate, Ziv is a diehard fan of all Pittsburgh sports teams, with the Steelers at the top of the list. In his free time, he enjoys reading crime fiction, biographies (mainly of sports personalities, but not only) and American history. Ziv’s Favorite quote: “We're going to pursue perfection, knowing full well we won't catch it, but we're going to relentlessly chase it," Mike Tomlin, Pittsburgh Steelers Head Coach.