Home Gambling Industry New York City could see casinos appear this year if new state budget approved

New York City could see casinos appear this year if new state budget approved

19 Jan 2022
3 min. read

Governor Kathy Hochul
New York Governor Kathy Hochul has a plan. She introduced her $216.3-billion budget plan this week that could legalize casino gambling in New York City. The proposal still needs to be approved by state lawmakers.

Hochul's record-breaking spending plan allows New York State's Gaming Facility Location Board to issue a Request For Applications to open three additional gambling venues in the state, all possibly in and around New York City. These would go along with the four currently operating in upstate New York.

New York City casinos were approved almost a decade ago. However, a moratorium was issued at the same time, leaving them off the table until 2023. Governor Hochul's plan would expedite the completion of the moratorium.

Robert Mujica, New York's budget director, said that there is no specific obligation that the casinos must be located in New York City. However, he said that it was likely that the focus of applications would be in the lower part of the state. He added that there would be competition for the new licenses.

Tuesday's announcement came after legalized, app-based sports betting appeared in the Empire State.

Chairman of the Standing Committee on Racing and Wagering, Assemblyman Gary Pretlow, praised Hochul's plan. He asserted, "We can issue licenses this year and raise anywhere from $1 billion to $2 billion in revenues. There will be more jobs and income tax revenues. It's a win-win-win."

Casino operator Resorts World is supportive of the proposal, as well. It said in a statement, "Gaming in downstate New York is full of untapped potential and Gov. Hochul's initiative to award additional casino licenses is a big step toward showcasing the state's enormous promise."

It added, "If granted a full casino license, we are uniquely positioned to immediately elevate our support for the state in a number of significant ways. On day one, we'll be able to hire and train hundreds of new union members, generate significant additional revenue for public schools, and drive economic activity for local small businesses and the Queens community."

Hochul will work with state legislators for the next 10 weeks to negotiate details of the budget plan. They hope to finalize the budget by April 1, the beginning of the state's fiscal year.

While the state budget should not be considered a political document by law, it can be viewed as such. Hochul and the 213 legislators from the state are up for re-election in 2022.

19 Jan 2022
3 min. read