New York Casino News
New York Governor Signs Bill to Allow Casinos in Upstate
New York Governor Kathy Hochul signed a bill into law on April 22, 2023, that will allow for the construction of up to three casinos in upstate New York. The law, which was passed by the state legislature earlier this month, is a major victory for supporters of casino gambling in New York, who have been lobbying for years to legalize the industry.
The law allows for the construction of one casino in each of the following regions:
- the Catskills
- the Finger Lakes
- the Southern Tier
The casinos will be operated by private companies, and will be required to pay a 50% tax on their gross gaming revenue. The revenue from the casinos will be used to support education, economic development, and other programs in upstate New York.
The law is expected to create thousands of new jobs and generate millions of dollars in tax revenue for the state. It is also expected to boost tourism in upstate New York, which has been struggling economically in recent years.
Reactions to the New Law
The passage of the new law has been met with mixed reactions. Supporters of casino gambling argue that it will create jobs, boost the economy, and generate revenue for the state. They also argue that it will give New Yorkers more options for entertainment and recreation.
Opponents of casino gambling argue that it will lead to increased crime, addiction, and social problems. They also argue that it will harm the local economy by taking away business from existing businesses.
The debate over casino gambling in New York is likely to continue for years to come. However, the passage of the new law is a major step forward for the legalization of casino gambling in the state.
What’s Next for Casino Gambling in New York?
The next step for casino gambling in New York is the licensing process. The state will be responsible for issuing licenses to the three companies that will build and operate the casinos. The licensing process is expected to take several months, and the casinos are not expected to open until 2025 or 2026.
Once the casinos are open, they will face a number of challenges. They will need to compete with existing casinos in neighboring states, and they will need to attract customers from a large and diverse population. However, the casinos are also expected to generate significant revenue for the state, and they are likely to play a major role in the economic development of upstate New York.
Conclusion
The passage of the new law is a major step forward for casino gambling in New York. The law is expected to create jobs, boost the economy, and generate revenue for the state. It is also expected to give New Yorkers more options for entertainment and recreation. The debate over casino gambling in New York is likely to continue for years to come, but the passage of the new law is a major victory for supporters of the industry.
Thank you for your visit!
