Bally’s to allow Bronx residents to own a share of its New York casino
Bally’s Corporation has announced a groundbreaking Community Benefits Agreement (CBA) as part of its bid to bring a world-class casino and entertainment destination to The Bronx.
The proposal includes an industry-first community investment program, allowing Bronx residents to own a share of the casino, as well as over $200m in community investments, 15,000 construction jobs, and more than 4,000 permanent jobs for local residents.
Bally’s plans to build a 200,000-square-foot casino, a 500-room hotel with a spa, a 2,000-seat event center, and additional retail and dining options, making it the largest private investment in The Bronx’s history—approaching $4bn in total project cost.
Bally’s total community benefit package will provide $625m in net present value, before including the value of direct project investment and community investment opportunities.
Bally’s CBA is designed to directly benefit the community through equity participation, job creation, local sourcing, and investments in public services.
Bronx residents will have the opportunity to invest in the casino, modeled after Bally’s Chicago project, with an expected community ownership stake of up to nine per cent. Investments start at $250, with leverage from Bally’s to maximize returns.
Bally’s pledges at least one per cent of net gaming revenue or three per cent of net profits (with a minimum of $10m per annum) to support the Bronx through PTA & School Funds, NYCHA Housing Fund, Community Housing Initiatives, Mental Health & Substance Abuse Programs and BronxNet Community Media Fund.
The project will generate 15,000 construction jobs and more than 4,000 permanent jobs, with priority hiring for Bronx residents. Bally’s will also launch a Pre-Apprenticeship and Workforce Development Program to prepare local residents for careers in gaming, hospitality, and entertainment.
The plan includes $100m for parkland improvements and new green spaces, $75m in transportation upgrades, including a new overpass, widened roads, and MTA bus enhancements. There will also be millions in annual funding for NYPD to increase police presence and pedestrian safety around the site.
State Senator Nathalia Fernandez, who represents the area, commended the proposal saying: “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. 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,”
Assemblyman Michael Benedetto echoed those sentiments: “This proposal 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,”
The state will officially begin accepting casino bids this summer, with winners expected to be announced 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 to receive one of the three downstate casino licenses.
