Donald Trump Has $115M Stake in NYC’s Casino Race

Donald Trump is no longer the operator of the golf course within Ferry Point Park, but the president could hit it big if a casino is approved for the site.

Trump would net $115 million if Bally’s receives a gaming license to open a casino at the city-owned golf course in the Bronx’s Throggs Neck neighborhood, the Associated Press reported. The then-presidential candidate quietly signed the deal when the gaming company acquired the operation rights for $60 million in 2023.

The deal was disclosed in a letter that was part of an evidence exhibit in the president’s civil trial in New York. The letter refers to the payday as a nonrefundable “gaming event fee.”

Bally’s did not respond to the outlet’s request for comment, nor did the Trump Organization.

It’s unclear how the revelation of Trump’s potential payday would affect the casino license sweepstakes, which is less than three months from a critical application deadline.

An additional problem for the Bally’s casino proposal in the Bronx is the need for a parkland alienation bill to free up the land for development.

The gaming company struggled to find the necessary support last year, imperiling the Bally’s bid. But as the process has stumbled along, time has been good for the alienation aspiration; this week, two local legislators announced plans to introduce an alienation bill, the New York Post reported.

A similar shift is unfolding for Steve Cohen’s casino proposal next to Citi Field. A state senator this week announced he would sponsor a parkland alienation bill for the proposed complex in Flushing, Queens.

Bally’s is looking to build a 500,000-square-foot casino on the Bronx site by the golf course, along with a 500-room hotel with a spa and meeting space, retail spaces, a 2,000-seat event center and two parking garages for up to 4,600 vehicles.

Applications for one of the three downstate gaming licenses are due towards the end of June. Two of the licenses are widely expected to go to a pair of “racinos,” effectively only putting one license in play.

— Holden Walter-Warner