New York City could see the official start of gambling as it was revealed by a recent statement. Gov. Kathy Hochul announced a new spending plan that amounts to some US$216.3 billion. It also comes with the permission of the New York Gaming Facility Location Board to issue a Request for Applications. With its help, the land-based casino field could be enhanced and expanded.
For quite a while, New York State has been preparing for the expansion of its in-person gambling field. There are currently four gambling hotspots working in full swing in Upstate New York and with the upcoming three, their total will be seven casino locations within the state. This has been a goal for many individuals in the gambling field.
New Budget
New York City has been among the potential locations where a well-rounded casino could develop daily operation. However, this week Budget Director Robert Mujica pointed out that the budget does not specify the area, but said three future hotspots would be in Downstate New York. The new casino licenses are set to draw the attention of many casino operators and competition will be significant.
Some of the contenders include MGM Resorts International and Genting Malaysia, which already operate a gaming property in the state. At the end of 2021, the New York State Gaming Commission released its Request for Information about potential candidates who would like to apply for a full commercial casino license in downstate New York. The issue of downstate casino licenses was delayed due to the commission giving upstate commercial casinos a chance to establish themselves in the industry.
The overall budget introduced by Gov. Hochul is US$4-billion higher when compared to last year’s one. Assemblyman Gary Pretlow (D-Mount Vernon), Chairman of the Standing Committee on Racing and Wagering, also had an opinion on the subject. He pointed out that the spending plan for this year is a move in the right direction.
New York City Casino
Assemblyman Pretlow is a well-known supporter of online sports betting and horse racing within the state. He made it clear that the new licenses that would be grabbed by casino operators will bring up to $2 billion in gambling revenue. Once the casino locations launch operation, many new job positions will be created and people from local communities will get the chance to work for a large casino corporation.
Resorts World is one of the casino operators supporting this casino expansion on a state level. The leader made it clear that there is untapped potential in Downstate New York and the Queens area could benefit from a full casino license. Yonkers-based Empire City Casino, on the other hand, is hopeful that 2022 can expand its gaming operations in New York State.
The MGM Resorts property has already applied for a full commercial gaming license to the New York State Gaming Commission last year. MGM Resorts believes that such expansion would allow it to bring billions of U.S. dollars in revenue for the Bronx. Other potential bidders for a casino license are Bally’s Corp. and Las Vegas Sands Corp.
Source: Campanile, Carl. « Gov. Hochul’s $216B budget could bring casino gambling to NYC« , NewYorkPost, January 18, 2022
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