The unprecedented situation has been far from kind to the local economy and businesses, leaving many governments wondering how to deal with the ongoing financial obstacles. That is why Yonkers City has come up with a plan to compensate for some of its fiscal losses and help out its residents. The city has advised the state to give full licensing rights to the local Empire City Casino.
Thursday morning saw the news of a freshly formed union in supports of the casino and its demanded full-scale licensing. The newly-shaped alliance consists of a group of 30 establishments, such as businesses, labor unions, and local community organizations. The gathering of forces aims towards putting pressure on the state’s government and Governor Andrew Cuomo to grant the casino the desired license.
” No-brainer”
The association of establishments is also known as “A Sure Bet For New York’s Future”, and is cooperatively run by Business Council of Westchester executive vice president John Ravitz, Westchester-Putnam Central Labor Body president Tom Carey and Bronx Chamber of Commerce president Lisa Sorin. According to Mr. Ravitz in a recent online meeting, the decision is a “no-brainer” since the gambling property has already proved its value for the state.
The gaming entity and Yonkers Raceway were acquired by MGM Resorts in 2019 for US$850 million, and the company has expressed its desire to transform the casino into a full-scale one. Unfortunately, for the time being, there is a moratorium on casino licenses in the state until 2023. This is due to the government believing that such licensing would hurt the adjusting upstate gambling facilities.
Mr. Ravits encourages other organizations to sign up for the cause in order for their voice to be heard by the state’s authorities. It is believed that the full-scale casino will be able to significantly help the gaping budget holes and provide jobs for the local population. Yonkers Mayor Mike Spano also supported the proposition, by claiming that it would be a “game-changer” for the city and provide around 6,000 job positions and substantially help out local communities.
A spokesperson of the local casino said that the company is overwhelmed by the recent support, and the casino could be a major player in the coming out of the financial crisis. Also, the corporation’s aim is to continue investing millions of dollars in capital projects and provide more revenue for the state. This can be achieved by the full-casino license and the proposed introduction of online sports betting in the NYS.
Online Sports Wagering Candidates
The proposal of introducing online sports betting for the New York State has faced a concerning issue after gaming regulators voiced their concerns about the unavailable sportsbook licenses. Currently, there are only seven for the state, but recent suggestions might have found the solution. The two-skins model of operation is currently under consideration, which will allow more gaming leaders to enter the market by cooperating with the existing already licenses casino operators.
January Hits New Heights
The month of January has been quite prolific for the sports betting sector of the state after the four commercial casinos reported a record-breaking month in terms of total bets placed. Rivers Casino Schenectady, Del Lago Casino, Tioga Down casino, and Resorts World Catskills have been able to generate an impressive amount of US$3.57 million in player’s bets for the month of January.
Source: Propper, David “Full casino license push in Yonkers forms ‘No-brainer’ alliance for Empire City”. LoHud, March 4, 2021
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