Trump's Potential Casino Windfall: The High-Stakes Game in New York City

A competitive bidding process for a casino license in New York City could yield a USD 115 million payout for Donald Trump. The deal hinges on Bally's Corp. securing state approval to build on a former Trump-run golf course. The selection process involves intense competition and political dynamics.

The high-stakes competition for a casino license in New York City is creating major buzz, particularly around President Donald Trump's potential USD 115 million windfall. This payout depends on whether Bally's Corp. obtains one of three gaming licenses available.

Bally's aims to convert a Bronx golf course, formerly managed by Trump, into a casino. The company bought rights to the course for USD 60 million and agreed to pay the extra fee if awarded the license. This detail emerged from a trial over Trump's alleged asset misrepresentation.

With fierce competition from at least 11 other bidders, including Caesars Palace and Steve Cohen, the gaming board's decision is influenced by community and political factors. Trump's involvement adds complexity, with potential implications in state politics and regulatory approvals.

(With inputs from agencies.)