Despite mounting calls to fast-track the issuance of downstate New York casino licenses, the endeavor has encountered significant roadblocks, much to the chagrin of figures like State Senator Joseph Addabbo.
Back in 2022, the New York State Legislature rolled the dice on a promising economic strategy by authorizing up to three new casino licenses, aiming to invigorate the local economy with fresh job opportunities and tax revenue. However, this ambitious plan has crawled along at a pace slower than a tortoise on tranquillizers. The New York Gaming Commission has now indicated that the jackpot decision on these coveted licenses might not materialize before December 2025.
Push for Quicker Casino Bidding Stalled by Governor’s Reluctance
State Senator Addabbo has made no bones about his frustration over these delays, stressing that too many chips—both monetary and workforce-related—are on the table to allow for any more stalling. He threw his weight behind a bill designed to accelerate the casino bidding process, proposing an earlier timeline: bid applications in by August 31, 2024, and choices made by December 2025. Yet, this plan hit the skids with Gov. Kathy Hochul showing no inclination to deal with it, leaving legislation in a state of limbo.
Skipping ahead to Governor Hochul’s stance, her administration appears to have doubled down on the extended timetable set by the state’s Gaming Facility Location Board—a move reported by insiders as more prudent. This elongated schedule grants potential casino bidders until June 2025 to lay their cards on the table, a deadline some industry pundits argue is judicious. They note that crafting billion-dollar casino plans is no game of bingo; it requires time, especially given that some New York City zoning hurdles remain unresolved.
Addabbo Remains Hopeful on Casino Bill Despite Governor’s Reluctance
Despite Governor Hochul’s cold feet on expediting the process, Senator Addabbo remains cautiously optimistic. Alongside Assemblyman Gary Pretlow, he continues to hold out hope that the governor might eventually ante up. They highlight the fiscal windfall—a cool $1.5 billion in license fees—that could flood into New York’s coffers if casinos get the green light sooner. This influx of cash could help offset financial losses from other policy delays, such as the postponed implementation of congestion pricing in Manhattan.
Yet, the conversation isn’t without its pitfalls. Concerns loom large about how downstate casinos could impact their upstate counterparts. When New York initially legalized casinos, the focus was on rejuvenating upstate economies. Now, political players like Addabbo argue it’s high time the downstate region, including New York City, enjoys similar boons. Prolonged delays, however, might shuffle the deck for existing racinos like MGM’s Empire City Casino and Genting’s Resorts World. These establishments, already equipped with video lottery terminals, could seamlessly transition into full-fledged casinos, giving them a significant head start over new entrants.
So, whether it’s the snail’s pace of legislative action or the intricate dance of zoning laws, one thing is for certain: the stakes are high, and the outcome remains as unpredictable as a roll of the dice.
