Is New York Casino Speculation Spinning Out of Control?

New York casino speculation ranges from what will happen with the three new retail casino licenses in the downstate to when state lawmakers will legalize online casino gambling. All speeches can be premature.

With everyone from the governor to state lawmakers seemingly in favor of develop the game in new yorkperhaps the only short-term issue to watch is the governor’s race.

On Tuesday, outgoing Governor Kathy Hochul will face US Representative Lee Zeldin at the polls. Hochul is favorite to win by 7.6%, FiveThirtyEight forecasts today.

Hochul, a Democrat, and Zeldin, his Republican competitor, are both pro-gaming.

However, Zeldin may represent the main possibility to derail the process which begins on January 6th. It is at this moment the New York Gaming Facility Location Board (NYGFLB) will begin accepting applications for lower state retail casino licenses.

New York’s casinos in the gubernatorial race debate

This exchange took place on October 25 during the New York Governor’s Debate:

Moderator: Should New York change or pause its plans to allow casino gambling in New York?

Zeldin: Well, the big question is location and the answer is “maybe”.

Retail casinos “shouldn’t be stuck in areas that don’t want them,” he said.

Zeldin may have been referring to the proposed Caesars Palace Times Squarewho is rebuffed by those who don’t want to see him at 1515 Broadway.

Hochul then replied to the moderator:

No. We are not going to stop the process. This is an opportunity to recharge communities downstate.

The process of selecting a site is already “in progress, because I made it happen,” she said.

New York Casino Speculation Is Entering Conspiracy Theory Territory

The New York Post posted an “exclusive” citing mostly anonymous sources on October 16. These sources told the newspaper that two existing gambling facilities in the downstate, which do not yet have full casino licenses, could be favored to be among the three candidates who receive full licenses after the NYGFLB process. of several months.

They allege that Hochul rigged the process for these campaign donors by putting language in the siting guidelines that gives weight to existing facilities. Those are Resorts World New York in Queens and Empire City Casino in Yonkers, a property of MGM Resorts International.

This particular New York casino conspiracy theory posits, according to New York Post:

Lobbying firms or Genting NY-Resorts World lobbyists have donated more than $50,000 to the Hochul/Friends for Kathy Hochul campaign committee – including $25,000 from lobbyist John Cordo in August and $15,250 from Patrick Jenkins over the past year, according to state Board of Elections records.

Genting-NY at Aqueduct itself has donated $2 million to politicians and political parties from all walks of life over the past decade and has spent millions more lobbying the executive and legislative branches.

Hochul replied that she was “not rigging the bidding process,” as the newspaper paraphrased. Moreover, this language came from former Governor Andrew Cuomo.

The selection process will not begin until January 6

New York Sports Day is keeping tabs on the New York State Gaming Commission (NYSGC) and has not heard back since the body named the three NYGFLB members on Oct. 3.

When the commission appointed these board members, NYSGC Chairman Brian O’Dwyer emphasized that this process was starting from scratch.

O’Dwyer’s exact words were:

It is indeed a tabula rasa.

The first item on the board’s agenda is to open the application process for license applicants on January 6.

However, it appears that O’Dwyer was already trying to shut down the New York casino rumors.

Meanwhile, even before Caesars’ Oct. 20 announcement, Related Companies and Wynn Resorts said they had partnered for “a resort, entertainment and gaming destination along the Hudson River.” The real estate company’s Sept. 15 press release stated that the retail casino would be at West Course at Hudson Yards.

New York Online Casino, sports betting is part of the hype

The New York casino hype happens because the Empire State matters to the gambling industry. The state’s 8.5 million people already support 31 casinos – tribal and commercial – that have generated $3.64 billion in gross gaming revenue (GGR) in 2021.

The three downstate casino licenses that are so much talked about are commercial and will join the 12 in the American Gaming Association (AGA) tally.

Add to this financial reality the fact that the three chosen retail casino operators will also be able to add online sports betting partnerships to their licenses, and the GGR opportunity grows.

State Sen. Joseph P. Addabbo Jr., D-Queens, noted Oct. 27 that New York’s online sportsbook has generated more than $1 billion in GGR since launch day on January 8, 2022.

Addabbo also vehemently advocates New York Online Casino legalization, which he plans to submit to state lawmakers in 2023.

However, like Hochul, Addabbo must first defeat his Republican opponent tuesday. Danniel Maio spoke to on his campaign priorities and didn’t even mention New York casino proposals of any kind.

Perhaps more New York casino speculation can wait until after Election Day.

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