Bally’s Corporation announced a community benefits package of over $600 million in conjunction with its proposed casino-hotel in Throggs Neck.
Photo courtesy Bally’s
Bally’s Corporation, which is seeking one of three downstate casino licenses to develop a massive hotel-casino complex in Ferry Point Park, announced what it called an “unprecedented” community benefits package totaling $625 million in jobs and investments for the Bronx.
The Bronx Times received exclusive details of the agreement, which comes just ahead of the Community Board 10 meeting on March 20, where members will vote on approval of the project.
The proposed $4 billion complex — which includes a 500-room hotel, fitness center and spa, 200,000-square-foot casino, 2,000-seat event center, shopping and dining — is the largest private investment in Bronx history, according to Bally’s. But the company says it is committed to more than just the new facility.
“Our goal is to create not just an integrated world-class entertainment destination but a long-term partner in the Bronx’s future, supporting local businesses, education, transportation solutions and workforce development,” said Bally’s Corporation Senior Vice President Christopher Jewett in a statement. “This project will ensure that the Bronx thrives economically and culturally, becoming a key hub for tourism and community enrichment.”
The community investments package was developed in collaboration with local elected officials and community leaders, including State Senator Nathalia Fernandez and Assembly Member Michael Benedetto, who represent East Bronx communities.
It will give Bronx residents the opportunity to buy equity interest in the project, starting at $250, with a projected community ownership stake of up to 9%. Bally’s announced a similar model for its Chicago casino in Dec. 2024.
Bally’s also committed to minimum donations of $10 million per year (at least 1% of net gaming revenue or 3% net profits) to local schools and PTA programs, NYCHA, youth sports, community housing, mental health and substance abuse funds and the BronxNet Fund.
The company says the casino project will create 15,000 construction jobs and 4,000 permanent jobs, with hiring priority for Bronx residents. Bally’s will also create a workforce development program to prepare locals for careers in hospitality, gaming and entertainment.
For the surrounding infrastructure, Bally’s is committing $100 million for parkland improvements and new green spaces, $75 million to fund additional MTA bus stops, a new Lafayette Ave. overpass, widened roads and unspecified millions in NYPD funding for police substations and increased presence around the site.
The project still faces several hurdles, including land use approvals and support from community members.
Bally’s has said that the company conducted extensive door-to-door outreach in the area surrounding the proposed casino and received support from 3,200 of 3,700 residents.
However, at a recent Community Board 10 public hearing, many residents shared concerns about an increase in crime and traffic congestion and loss of parkland.
Elected officials have not yet directly supported the project but expressed optimism about Bally’s commitments to the Bronx.
“We worked to ensure this Community Benefits Agreement reflects priorities we know matter to our neighborhoods—support for our schools, housing, public safety, workforce development, and local businesses,” said Sen. Fernandez. “This is just the starting point, and now I want to hear directly from the community to make sure your voices continue to shape our future.”
Assembly Member Michael Benedetto said the agreement “represents an important first step in what must be an ongoing conversation with our community.”
“There’s potential here to bring real benefits to the Bronx, but it’s important that we keep working to make sure any project reflects the needs of the people who live in Throggs Neck and the surrounding neighborhoods,” he said.
The Bally’s project is one of 11 projects vying for three available downstate casino licenses, which are expected to be awarded by the end of 2025.
“Bally’s is confident that its unprecedented community benefits package, job creation, and infrastructure investments make it the ideal choice” for a license, the company said.
Reach Emily Swanson at eswanson@schnepsmedia.com or (646) 717-0015. For more coverage, follow us on Twitter, Facebook and Instagram @bronxtimes
