New York City recently announced the official start of gambling through a statement. Gov. Kathy Hochul announced a new spending plan worth about $216.3 billion. It also received permission from the New York Gaming Facility Location Committee to issue an application request. With that help, the land-based casino sector could be strengthened and expanded.
For quite some time, the state has been preparing to expand its gambling facilities in person. Upstate New York currently has four gambling hotspots in full operation, and with three more to go, their total will be seven casino locations in the state. This has been a target for many in the gambling establishment.
New York City has been one of the potential places for a balanced casino to operate daily. However, this week, budget director Robert Mujica said that three future hot spots will be in New York's downstate, although the budget does not specify a region. The new casino license will appeal to many casino operators and competition will be significant.
Some of the competitors include MGM Resorts International and Genting Malaysia, which already operates gaming properties in the state. In late 2021, the New York State Gaming Commission issued a request for information about potential candidates seeking to apply for a full commercial casino license in Downstate New York. Downstate casino license issues were delayed as the commission waived the opportunity for Upstate commercial casinos to establish themselves in the industry.
Governor Hochul's overall budget is $4 billion more than last year. Rep. Gary Pretlow, D-Mount Vernon, chairman of the Racing and Wearings Standing Committee, also commented on the topic. He pointed out that this year's spending plan is going in the right direction.
Mr. Pretlow is a well-known supporter of online sports betting and in-state horse racing. He has made it clear that the new licenses that casino operators will catch will bring in up to $2 billion in gambling revenue. When casino branches open, there will be many new jobs and people in the community will get a chance to work for large casino companies.
Resorts World is one of the casino operators that supports casino expansion at the state level. The leader has made it clear that Downstate New York has untapped potential and that the Queens area could benefit from a full casino license. On the other hand, the Yonkers-based Empire City Casino hopes to be able to expand its gaming business in New York state in 2022.
The MGM Resorts building already filed for full commercial gaming authorization with the New York State Gaming Commission last year. MGM Resorts believes such an expansion will bring billions of dollars in revenue to the Bronx.
