Mohegan becomes operator for Soloviev NY casino bid

Three new proposed downtown casinos in New York are the talk of the state and city, and they have seen a lot of interest from some of the biggest companies in the industry, known for their land-based operations.

Now, Mohegan is joining Soloviev Group’s bid to be part of the new gambling landscape in New York, with the former becoming the casino partner for the group. Soloviev Group and Mohegan are confident in their future success, citing their innate synergies and well-aligned strategic goals, allowing them to drive strong results.

Commenting on the choice of partner, Soloviev Group ChairmanStefan Soloviev has said that his group was fully capable of honoring Mohegan’s commitment to sustainable and carbon-neutral property development, which is what the pair expect to see materialize as their latest land-based project in New York.

The partnership between the two, says Soloviev, would ensure that any new property would be ethically developed, and usher in prosperity for local communities, driving international tourism and generating robust revenue for New York City.

For its part, Mohegan President and CEO Ray Pineault has hailed the opportunity to be teaming up with Soloviev Group and said that Mohegan’s own expertise would lead to exceptional service and experiences for future guests. Pineault is confident that his company will check all boxes in a new casino project, including how the company impacts local communities, the economic windfall for the city in general, and more.

The announcement by Mohegan and Soloviev Group is part of New York State Gaming Commission'sRequest for Applications with willing applicants outlining their plans to develop and operate one of the three available sites for future casino projects. Applicants would have to be prepared to pay a licensing fee of $500m each.

The applications will be reviewed by individual Community Advisory Committees set for each of the neighborhoods that are selected to host future casinos. The next vote is due on Friday, February 3, during which all submissions should be reviewed.

Mohegan is hardly the only party interested in the development process. Caesars is teaming up with SL Green, a prominent developer from the state, and looking to introduce a casino in Times Square. Meanwhile, Steven Cohen, who owns the New York Mets, a baseball franchise, is hopeful to see a project take shape near Citi Field in Willets Point, Queens.

Wynn and Related Companies are collaborating to push a project in Midtown Manhattan, and the list goes on. Mohegan and Soloviev have thrown their hat in the ring and they seem to have a good chance of securing one of the licenses, and the means to execute their vision.

Image credit: Unsplash.com