Genting wants and plans to expand the existing casino with or without legalized gambling in the City. They no longer have an "exclusive" agreement with the state for a convention center. But its doubtful any private enterprise would be willing to put forth the money Genting has said it will, especially now that Cuomo wants to push legalized gambling casinos upstate, further away from the City.
Meanwhile, the quest for legalized casinos in New York continues...
http://www.cityandstateny.com/lawmak...e-casino-plan/
Quote:
“We propose a casino plan to boost upstate development,” Cuomo said, noting that New York City has 8.2 million residents and 50 million tourists a year. “I believe casinos in upstate New York could be a great magnet to bring the New York City traffic up. They now go to New Jersey, they go to Connecticut – why don’t we bring them to upstate New York?”
But several key lawmakers disagreed with various elements of the governor’s proposal, casting doubt on whether legalization will go forward on the governor’s terms. The Legislature last year passed a constitutional amendment to legalize up to seven casinos in the state, and it would have to be passed again this year before going before voters in a referendum. One unanswered question is whether to allow a lucrative Las Vegas-style casino in New York City, though that could be off the table for the time being. “It was a surprise to me that he’s limiting it to three at this stage,” said Assemblyman Gary Pretlow, who chairs the Assembly Racing and Wagering Committee. “I think that if we’re trying to maximize our revenue, you should look at doing all seven immediately, even if we don’t go into the building phase immediately, just go through the allocation phase and get that done.”
...keeping casinos out of New York City would prevent Genting’s popular Resorts World New York racino — which has slots but no table games — from submitting a bid to expand into a full-fledged casino. Assemblyman Philip Goldfeder and state Sen. Joseph Addabbo, whose districts include Resorts World New York, both issued statements expressing disappointment about the governor’s plan. Yet Cuomo was careful not to take New York City off the table entirely, referring to his upstate casino plan as “Phase One.”
“We propose, ‘Phase One,’ three casinos all in upstate New York,” the governor said. “No casinos in New York City, because the plan is to bring downstate New Yorkers to upstate.”
|
I'm not sure how the upstate part of Cuomo's plan is supposed to work. If they are dependent on traffic from the City to keep the upstate casinos going, number 1 as seen in Atlantic City, the Aqueduct casino is already killing business there because people don't want to make an unneccesary trip, and number 2, if casinos are eventually legalized in the City, it would kill the upstate traffic anyway. I don't understand why he hasn't learned anything from the losses in New Jersey and Connecticut casinos. Just being in New York state doesn't cut it, its a matter of convenience for many people.
http://www.nytimes.com/2012/10/24/ny...anted=all&_r=0
Quote:
The casino, Resorts World Casino New York City, generated nearly $630 million in revenue over the last 12 months from electronic slot machines, more than the slots at any of the 12 casinos in Atlantic City or at Foxwoods or Mohegan Sun in Connecticut. The average income from an electronic slot machine is more than $370 a day, compared with $169 for slots on the Strip in Las Vegas.
The success of the casino, the only one in the five boroughs of New York, suggests that no matter how luxurious the accommodations or exciting the entertainment, nothing appeals more to gamblers than a casino that is nearby...................Casino revenues in Atlantic City have dropped 36 percent, from a high of $5.2 billion in 2006 to $3.3 billion last year. Revenues are also down at Connecticut casinos. Last month, Mohegan Sun in Uncasville, Conn., the world’s largest casino, announced it would lay off another 328 workers, blaming the casino at Aqueduct and a weak economy.
“I used to go to Mohegan Sun and Foxwoods on the fast ferry,” said Ralph Barbaro, 77, a retired salesman, as he played a slot machine at Resorts World. “This is very convenient. It takes me 20, 25 minutes to get here from my home on Long Island.”
|
http://www.qchron.com/editions/queen...9bb2963f4.html
Cuomo casino plan worries Queens legislators
Quote:
legislators who represent the communities near Resorts World Casino New York City — the only casino in the five boroughs — said the plan to not allow full casino gambling at Aqueduct Racetrack will prevent much-needed jobs and tourism from coming to Queens.
“I do have a major concern over the governor’s remarks made regarding the future of casinos which may impact the future of Resorts World and the opportunity for additional jobs and revenue there,” said state Sen. Joe Addabbo Jr. (D-Howard Beach).
Currently, gamers can play table games like roulette and baccarat at Resorts World, but only in computerized versions. Michael Speller, President of Resorts World, said in 2011 that the casino would be able to add table games to the gaming floor if and when they are approved. The decision to introduce full gaming upstate may also kill proposed plans for casinos elsewhere in the city, such as Coney Island.
“I appreciate Governor Cuomo’s desire to boost our economy and create jobs by allowing enhanced gaming throughout New York State, but we must not forget New York City,” said Assemblyman Phil Goldfeder (D-Far Rockaway). “I look forward to working with the governor to finally bring an enhanced casino to Resorts World at Aqueduct in Queens and provide our neighborhoods the economic boost needed, especially as we recover from Hurricane Sandy.”
Stefan Friedman, a spokesman for Resorts World, said the casino was supportive of Cuomo’s plan to bring full gaming to the state, even just for Upstate.
“We remain interested in enhancing our extremely successful partnership with New York State and look forward to reviewing the Governor’s proposal to facilitate economic development in upstate New York,” Friedman said in a statement released only hours after the State of the State speech. “As an organization that sent nearly $300 million to the state education fund last year alone, we are enthusiastically supportive of any arrangement that benefits New York State’s schoolchildren.”
|
Meanwhile, its business as usual at Aqueduct...
http://www.nypost.com/p/news/local/q...zR3OccL4RuteAK
Only casino-bus depot at failing shopping site
By ISABEL VINCENT and MELISSA KLEIN
January 13, 2013
Quote:
The only tenant so far in a long-planned retail center that’s supposed to attract shoppers to downtown Jamaica will be a bus station that instead takes them away — to the Resorts World racino at Aqueduct Raceway.
A sign in one of the three storefronts, which have remained empty since they were finished last June, advertises: “Coming soon: Bus Depot Here!”
The Greater Jamaica Development Corp., the politically connected nonprofit that used $9.2 million in taxpayer money to clean up the area and develop the retail arcade, says it has signed a lease with Resorts World for the largest of the storefronts on Sutphin Boulevard.
It will basically be a waiting room for free shuttle buses that run to the racino every 20 minutes. The 2,300-square-foot space is now an empty shell.
|
__________________
NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Last edited by NYguy; Jan 13, 2013 at 2:34 PM.
|