Bloomberg Intelligence Podcast Summary

Episode: Steve Cohen, Bally’s Picked to Run Casinos in NYC
Date: December 1, 2025
Hosts: Scarlet Fu, Paul Sweeney, Alex (co-host)
Special Guests: Randall Williams (US Sports Business Reporter), Sam Fazelli (Director of Research, Global Industries), George Ferguson (Senior Aerospace Analyst), John Butler (Senior Telecom Analyst)

Episode Overview

This episode delivers a deep dive into the approval of three casinos in New York City, including sports owner Steve Cohen’s ambitious plans next to Citi Field, and analyzes broader market shifts in healthcare, aerospace, and telecom. The Bloomberg Intelligence team and guest analysts dissect the business impact, industry opportunities, and competitive landscape associated with these events.

Key Segment Summaries & Insights

1. NYC Casino Approvals & Steve Cohen’s Multi-Use Vision

Segment Start: [02:05]

Main Points

• Three New Casinos Coming to New York City:
  Steve Cohen, owner of the New York Mets, secures approval for a casino project near Citi Field. The Genting Group will expand Resorts World by the Aqueduct racetrack; Bally’s plans a facility at a Bronx golf course.

• Transformational Potential for Queens:
  Steve Cohen envisions a complex that merges sports, entertainment, hospitality, and gaming—effectively an urban resort hub.

• Multi-Use "Playground":
  The project aims to blend Mets games, casinos, hotels, pools, and the US Tennis Center into a cohesive entertainment destination.

Notable Quotes

• On Cohen's Ambition:
  “If he’s able to do everything that he wants to do…and he has more than enough money to do it, then I’m sure that there’s going to be a lot of people that are going to enjoy this.” — Randall Williams [02:44]

• Business Synergy:
  “If you can own a sports team and sports gambling in the exact same environment, then it does create a playground of sorts.” — Randall Williams [05:20]

Timeline & Economic Impact

• Job Creation:
  Significant job growth anticipated from construction to tech development to service roles, but timelines remain “to be determined.” Projects often take longer than forecasted. [03:14]

Competitive Backdrop

• Other Bidders:
  Jay Z, among others, had rival bids, such as a Times Square proposal, highlighting the high stakes and major money involved.

• Cohen’s Advantage:
  “People who have a lot of money ... can potentially leap some guardrails and some hurdles that are in front of most people.” — Randall Williams [04:35]

Industry Attitudes Toward Gaming Partnerships

• Shift in Sports & Gambling:
  Just a few years ago, sports leagues avoided gambling; now, ownership is converging with the casino industry. [05:52]

  “There was not a time, very long ago...when professional sports leagues would not want to get within 1,000 feet of anything related to gambling. Boy, times have changed, haven’t they?” — Alex [05:52]

2. Healthcare: GLP-1 Drugs, Market Policy & Pharma Competition

Segment Start: [09:05]

Main Points

• Investor Sentiment:
  Recent clarity around pharmaceutical tariffs (including a UK/US framework and delayed tariffs) lifts share prices.

• Regulatory Uncertainties:
  Pressure persists around vaccine regulation; future concerns about expansion to cancer and biologic drugs exist. [09:34]

• GLP-1 Drugs (Weight Loss/Diabetes):
  Eli Lilly and Novo Nordisk remain leaders. Recent price cuts spark heightened competition and are aimed at rapidly expanding the addressable market.

• Market Penetration:
  Only a small percentage of eligible patients currently use GLP-1 drugs, suggesting "we’re in the very, very, very few [users]" — Sam Fazelli [12:12]. Even 10% market penetration could drive $100 billion in sales.

Notable Quotes

• “The data…suggests that…the Eli Lilly drug…is more effective when it comes to weight loss than the Novo Nordisk drug. Although…some other trial will show somebody else’s drug is better.” — Sam Fazelli [11:01]

• “Of course, we all hear stuff about people who don’t actually need them. They just want to have it look like they’ve got a nice six pack…But they are very beneficial for people who are genuinely overweight or obese…” — Sam Fazelli [12:12]

• “I think the ones…related to obesity—cardiovascular risk, kidney function, sleep apnea—they are clearly working.” — Sam Fazelli on new drug indications [13:27]

3. Aerospace: Airbus Quality Issues & Production Targets

Segment Start: [16:32]

Main Points

• Airbus Facing Increased Scrutiny:
  Historically, Boeing’s troubles overshadowed Airbus’ quality issues; now, A320 quality problems may jeopardize Airbus’ aggressive 820 deliveries/year target.

• Supply Chain Constraints:
  The aerospace supply chain lacks redundancy, making it fragile to disruptions.

• Investor Concerns:
  Overly ambitious Airbus targets risk disappointing investors. Missed targets roll into future years, clouding long-term profitability projections.

Notable Quotes

• “Anything they miss now isn’t going away. It gets pushed into the next year and the next year.” — George Ferguson [18:35]

• “Airbus has the infrastructure to put out more airplanes, more narrow body airplanes per month.” — George Ferguson on Airbus’ traditional production edge over Boeing [19:56]

4. Telecom: Competition, Satellites & Future Trends

Segment Start: [22:58]

Main Points

• Escalating Price Wars:
  Intense price competition among major US wireless carriers; churn is a key challenge.

• Broadband as a Growth Driver:
  Fixed wireless access enables broadband via wireless links, and all major telcos are prioritizing this to offset slowing wireless growth.

• Satellites as the Next Battleground:
  Starlink (with T-Mobile) and AST SpaceMobile (with Verizon, AT&T) are rapidly maneuvering into satellite-based telecom, aiming for ubiquitous coverage.

• 6G on the Horizon:
  6G standards development has begun; commercial rollout expected around 2030. For now, expect mid-cycle enhancements to 5G. [26:46]

Notable Quotes

• “The bullets are really flying in wireless right now...” — John Butler [23:37]

• “It’s almost like cell sites in space at this point.” — John Butler, on satellite partnerships with carriers [25:57]

• “Coverage everywhere is going to become a reality as we move through next year.” — John Butler [26:04]

Notable Quotes—By Timestamp

• [02:44] Randall Williams: “If he’s able to do everything that he wants … there’s going to be a lot of people that are going to enjoy this.”
• [05:20] Randall Williams: “If you can own a sports team and sports gambling in the exact same environment, then it does create a playground of sorts.”
• [05:52] Alex: “There was not a time…when professional sports leagues would not want to get within 1,000 feet of anything related to gambling. Boy, times have changed, haven’t they?”
• [09:34] Sam Fazelli: “Share prices have moved…The [tariff] issues…seem to be manageable. So what’s left here is regulatory worries…”
• [11:01] Sam Fazelli: “The data…suggests that…the Eli Lilly drug…is more effective when it comes to weight loss than the Novo Nordisk drug.”
• [12:12] Sam Fazelli: “We’re in the very, very, very few [users]. You don’t need a particularly massive…percentage to get into the hundred billion number.”
• [18:35] George Ferguson: “Anything they miss now isn’t going away. It gets pushed into the next year and the next year.”
• [23:37] John Butler: “The bullets are really flying in wireless right now…”
• [25:57] John Butler: “It’s almost like cell sites in space at this point.”
• [26:04] John Butler: “Coverage everywhere is going to become a reality as we move through next year.”

Segment Timestamps

• [02:05] – NYC casinos: Steve Cohen, Bally’s, Genting Group
• [09:05] – Healthcare outlook: pharma tariffs, GLP-1 market, investor sentiment
• [16:32] – Aerospace: Airbus production, market challenges
• [22:58] – Telecom: price competition, satellite moves, 6G preview

Podcast Tone & Style

The episode offers sharp, rapid-fire analysis, blending data-driven insights with conversational banter and clear explanations of market implications for investors and business leaders alike.

This summary covers the key news, expert takes, and market impacts discussed in the episode, offering a quick-yet-comprehensive guide for those interested in casino development, pharma trends, aerospace disruption, and the fast-evolving telecom sector.