Bally’s Corp (NYSE:BALY) saw its stock climb more than 9% in early Monday trading after securing one of the highly contested casino licenses designated for the New York City metropolitan area.

The New York State Gaming Commission’s facility location board approved Bally’s plan to develop and operate a casino at a Bronx golf course property formerly built by President Donald Trump.

Two other bidders also received licenses: New York Mets owner Steve Cohen, partnering with Hard Rock International on an $8 billion resort next to Citi Field in Queens, and Genting Group’s Resorts World, which will expand its existing gaming complex beside the Aqueduct racetrack.

These selections move New York State closer to finalizing a 10-year effort to award up to three downstate casino licenses. Formal issuance of the licenses is expected by the end of 2025.

Competition for the approvals was intense, drawing interest from major real estate developers and investors. In total, eight bids were submitted, including proposals for three different Manhattan locations.

Bally’s Corp stock price

This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Some portions of this content may have been generated or assisted by artificial intelligence (AI) tools and been reviewed for accuracy and quality by our editorial team.