The Big Apple is ripe for Gambling to become a mainstream industry
New York lawmakers are up for a gambling tussle with neighbouring states, as its residents are large contributors to New Jersey state, which surpassed Nevada as the top sports betting market in the U.S., when at the end of November, New Jersey’s nine casinos and the three horse tracks that take sports bets posted nearly US$10 billion in wagers, including online wagers. Industry experts have estimated as much as 25% to 30% of sports bets in New Jersey are placed by New York residents.
Local reports indicate that key NY lawmakers, backed by the powerful hotel and casino workers union, are pushing Gov. Kathy Hochul and the state Legislature to take action this year to award up to three casino licenses in the New York City region.
The move comes after the New York State Gaming Commission launched its much-anticipated mobile-sports-betting operation Saturday, say legislators and gambling proponents. The pitched casino expansion could provide thousands of needed jobs to make up for the deep employment loss during the two-year coronavirus pandemic.
“Issuing full gaming casino licenses downstate has moved to the top of my agenda,” said Rep. Gary Pretlow, Chairman of the state Assembly Committee on Gaming and Wagering, adding that Genting’s Resorts World gambling parlour at Aqueduct race track and MGM’s Empire City slots parlour at Yonkers Raceway would have a “head start” to win two of the three downstate gaming licenses to expand to include table games. The venues are currently only permitted to offer Lottery Division’s slot-style video lottery terminal games.
Senator Joe Addabbo, Chair of the Senate gambling committee, agreed that action to license downstate casinos should start this year: “We should have revenue from licensing fees included in the state budget.”
Addabbo, whose district includes Resorts World at Aqueduct, said that the licenses could fetch upward of US$750 million for the state treasury, and envisions MGM and Resorts World being awarded licenses to convert into full casinos that include table games. He said both firms have a track record and political support from the surrounding communities.
Senator Addabbo said also supports the awarding of a license for a third casino for a region that includes New York City, Long Island and the northern suburbs — Westchester, Rockland and Putnam counties.
Rich Maroko, president of the Hotel and Gaming Trades Council Union, representing 40,000 hotel and casino workers, said that thousands of hotel workers who lost their jobs during the pandemic could be rehired by city casinos,
Maroko, added: “After nearly two years of unprecedented layoffs in New York’s hospitality sector, there’s only one thing that will pave the path to recovery: more high-quality jobs. With a smart, responsible approach to new casino licenses, we have the opportunity to put unemployed hospitality workers back to work while also giving our economy a much-needed boost. Existing gaming facilities like Resorts World in Queens and Empire City Casino in Yonkers are in a unique position to provide that boost quickly and efficiently,” he said. “What we need now is for our state leaders to step up and give us the tools to protect workers and create new employment opportunities.”
