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Old Posted Mar 24, 2019, 4:38 AM
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Join Date: Jul 2001
Location: Borough of Jersey
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Quote:
Originally Posted by BBMW View Post
They need to build a huge casino hotel in Hells Kitchen.
Manhattan doesn't need a casino. Maybe it's time to put one in Coney Island as a draw and anchor to the planned indoor amusement district. I never understood Cuomo's logic of opening the upstate casinos first.



https://www.bloodhorse.com/horse-rac...no-at-aqueduct

Resorts World Pushing for Full Casino at Aqueduct
New York governor says racino at Aqueduct would have to compete for license.


By Tom Precious


Quote:
New York Gov. Andrew Cuomo appeared March 19 to reject efforts by two downstate racinos, including one at Aqueduct Racetrack, to be tapped by the state as full-blown casinos without having to go through a competitive bidding process.

"I am very skeptical about some casino deal put together by casino operators promising billions of dollars and everybody is happy,'' Cuomo told reporters at the New York state Capitol.

The governor's comments came as executives at Genting, operators of the Resorts World racino at Aqueduct, along with MGM Resorts, the new owners of the harness track and racino in Yonkers, have stepped up lobbying efforts to expand casino licensing authority to downstate New York locations.
Quote:
The state in 2014 awarded casinos to four upstate locations, which have struggled to meet revenue projections since they've opened. As part of the deal, which was crucial for all or most of them to obtain financing, the state agreed to a moratorium on any further casino licenses being given until 2023.

But with state officials trying to put together a new 2019 state budget, which is desperate for new revenue sources if legislators' spending plans are to be met, gambling interests have descended upon Albany, N.Y., seeking to undo the 2023 casino licensing moratorium. The state has three licenses left that it can hand out under the terms of a 2013 law, and all three would be—given the downstate population density and the upstate gambling saturation—centered in and around New York City.


https://www.democratandchronicle.com...es/3201551002/

How the pitch for New York City casinos could save the upstate ones

Joseph Spector
March 18, 2019


Quote:
Perhaps only in New York could more casinos be viewed as a lifeline for the struggling ones in upstate.

Powerful downstate casino giants have privately made the pitch to the four upstate casinos and state leaders that lifting a moratorium on New York City-area gambling licenses could be the bailout the upstate ones need to survive.

If the state were to drop its ban on new casinos before 2023, the New York City-area casino developers are each offering $500 million to the state for casino licenses, as well as offering to pay the fees that would be owed to the upstate casinos if the ban is lifted.

Not only that, the new revenue from the downstate casinos could allow the state and upstate casinos to renegotiate their tax rates because the industry as a whole would be bringing in more revenue for the state, the casino hopefuls have argued.

Sands wants a foothold in New York City, while MGM wants a casino license for its newly purchased Empire City Casino in Yonkers, and Genting wants one for Resorts World New York City in Queens.

The three casino companies have been working the halls of the state Capitol in recent weeks promising heavy investment in the state if the ban on new casinos in New York is lifted.
Quote:
But Gov. Andrew Cuomo and legislative leaders have been leery of lifting the moratorium, which was put in place in 2014 to give four upstate casinos an opportunity to build their businesses before any new ones were opened.

The state Legislature would need to pass a bill to open the bidding for new casinos or at least direct regulators to allow Empire City and Resorts World the right to upgrade from a racino with video-lottery terminals to full-scale casinos with table games and sports betting.

"We are simply having discussions about how to maximize the value in existing gaming assets in downstate," said Michael Levoff, senior vice president for public affairs at the Genting Group.
Quote:
In Yonkers, local leaders are largely supporting MGM's push for a casino license after buying the venerable racetrack and racino for $800 million from the Rooney family in January.

"We’re just kind of educating people on the vision we have for the property," Uri Clinton, Empire City president, said last week.

Sands is making a separate push too: It wants an open bidding process for any new downstate casinos, not simply awarding license to the two existing racinos — Empire City and Resorts World New York City.

The upstate casinos were competitively bid.



https://qns.com/story/2019/03/20/ozo...leted-in-2020/

Ozone Park’s Resorts World Casino New York City $400 million expansion slated to be completed in 2020





By Carlotta Mohamed
March 20, 2019


Quote:
“We are excited to work with Plaza Construction to bring to life our vision for an unrivaled entertainment and hospitality destination in southeast Queens,” said Scott Molina, president of Resorts World Casino New York City. “This new play, stay, dine and shop development will create good-paying jobs and generate significant revenue for our surrounding community and New York state. We are grateful to our local partners for their steadfast support as we prepare for phase two of our facility.”
Quote:
Overall, the 500,000-square-foot addition is expected to create 1,000 new construction jobs.

Work has already progressed to the second floor, and the first part of the expansion is set to open later this summer, according to Resorts World Casino. Perkins Eastman is designing the new phase while Cosentini Associates is the MEP engineer. DeSimone is the structural engineer and Langan is the civil engineer.
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