New York governor’s 2023 budget proposal allows for three NYC casinos

New York governor’s 2023 budget proposal allows for three NYC casinos

Governor Kathy Hochul has included a plan that could bring legal casino gambling to New York City in her $216.3bn budget proposal.

US.- The $216bn 2023 fiscal year budget plan presented by New York governor Kathy Hochul proposes to go ahead with plans to award up to three casino licenses this year. New York currently plays host to four casino operators located in upstate provinces. However, Hochul wants to develop three bricks-and-mortar gaming venues in New York City.

New York voters approved commercial casino gaming in the state in 2013. The first four licences were awarded to upstate sites, and the plan was for further licenses to be awarded seven years later, giving the upstate venues a chance to establish themselves before new casinos would open. The New York Gaming Facility Location Board is expected to issue a Request for Applications for three venues.

Gary Pretlow, from the Standing Committee on Racing and Wagering, highlighted the considerable financial opportunity of NYC casinos. He said:: “We can issue licenses this year and raise anywhere from $1bn to $2bn in revenues. There will be more jobs and income tax revenues. It’s a win-win-win.”

Casino operator Resorts World said in a statement: “Gaming in downstate New York is full of untapped potential and Gov. Hochul’s initiative to award additional casino licenses is a big step toward showcasing the state’s enormous promise.

“If granted a full casino license, we are uniquely positioned to immediately elevate our support for the state in a number of significant ways. On day one, we’ll be able to hire and train hundreds of new union members, generate significant additional revenue for public schools, and drive economic activity for local small businesses and the Queens community.”

There have been concerns that the introduction of casinos in downstate New York would lead to some upstate facilities closing. Besides the four full-fledged commercial casinos, there are also six VLT facilities and five Class III tribal casinos in upstate New York. The Seneca Nation of Indians operates three of those in the far western part of the state.

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