🤑 Total of 17 Bids Submitted for N.Y. Casino Licenses - WSJ

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Seventeen companies on Monday unveiled lavish and increasingly expensive proposals for New York casino-resorts in communities from.


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Genting wants it for Resorts World New York City in Queens, and Sands casinos out of nearly 20 proposals for three regions of the state: the.


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The proposed amendment to section 9 of article 1 of the Constitution would allow the Legislature to authorize up to seven casinos in New York State for the.


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With New York's upstate casinos struggling, some state officials are Under one proposal, Aqueduct Raceway on the Queens border with.


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Seventeen companies on Monday unveiled lavish and increasingly expensive proposals for New York casino-resorts in communities from.


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The proposed amendment to section 9 of article 1 of the Constitution would allow the Legislature to authorize up to seven casinos in New York State for the.


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Even casinos in the state, which should benefit somewhat from the relaxed rules on sports betting included in Cuomo's budget proposal, appear.


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SCHENECTADY -- Is there room for more casinos in New York state? a study proposal being considered by the state Gaming Commission.


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The proposed amendment to section 9 of article 1 of the Constitution would allow the Legislature to authorize up to seven casinos in New York State for the.


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Even casinos in the state, which should benefit somewhat from the relaxed rules on sports betting included in Cuomo's budget proposal, appear.


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He is particularly interested in what the "long overdue" report will have to say about sports gambling. It's this skepticism that led one industry expert to ponder if the report will actually be used to buy the Cuomo administration more time before issuing new casino licenses. New York state as quietly commissioned a study in to look at all the state's forms of gambling, which worries operators. Addabbo has been frustrated by the state's limited rollout that allows sports books to be operated at just the upstate casinos, and wants an internet option that would exponentially increase revenues. As budget talks heated up in March, major gaming operators, including the Las Vegas Sands Corporation and Genting, tried to entice state lawmakers and Cuomo into speeding up the issuing of new licenses. The study will also look at the "future negative impact" of Las Vegas-style casinos on the Saratoga Casino Hotel, which operates harness racing and video gaming. Existing operators in New York would like changes that might help their bottom line, such as lowering the tax rates and tweaks to how pools of revenue can be used. But the study represents an exciting development to Sen. Joe Addabbo, a Queens Democrat who is the Senate's point person on gambling issues. The RFP also says such a study would also look at the tax rates placed on video lottery terminals, slots and table games. The RFP is particularly ominous for the off-track betting corporations and racinos in western New York, which will have their "sustainability" examined. One specific concern for the racing industry and horse breeders is that the report will be used to justify cutting the payments they receive from video gaming in New York.

The expectation in the gaming community is that the findings will be used to justify an overhaul of the rules and regulations for casinos, racetracks and off-track betting corporations, and possibly speed up the licensing process for new casinos.

Several industry leaders and lobbyists the Times Union spoke with, who are concerned about what such click here study will mean for the gaming business, said they could not speak candidly about the survey on the record for fear of possible retribution from the state.

A final report would be due by the end of the year. It's widely understood that this funding is critical to the success of racing, including enabling the New York Racing Association to turn repeated profits in recent years. The study represents a change of pace for the state, considering it didn't pursue a similar review before introducing video gaming terminals inand moving forward with Las Vegas-style casinos in A request for proposals to oversee such a study was quietly issued by the state Gaming Commission last month, and a firm is scheduled to be chosen in August to conduct the comprehensive review.

It's unlikely that Gov. Gaming Commission spokesman Brad Maione bay casino neah to comment on the rationale for the study, citing the "restricted period of the new york state casino proposals.

It would also predict potential gaming revenue based on "specific siting locations. Andrew Cuomo will embrace mobile sports betting next year, as the RFP notes that any analysis of mobile sports gambling new york state casino proposals based on an amendment to the state Constitution, which would take at least until Addabbo acknowledged there is another possibility that the report could speed up the introduction of casinos to the downstate areas, including New York City and Westchester County.

A third operator, Sands, is generally considered site agnostic because they don't operate a facility in the region. VLTs and the racino have had a positive impact on harness racing.

The study would examine the effect of these new casinos on the existing operators in the state and try to identify the optimal taxation rates and licensing fees. But there is a fear across the industry that the Gaming Commission study will prompt unwanted developments for them. He is hopeful that the study will enable the state to take a holistic approach to future changes instead of its piecemeal policies, which he believes have an unpredictable "ripple effect. State legislative leaders and Cuomo have said before that they are not interested in reducing gaming tax rates, which allow millions to flow into local municipal and state coffers.