New York Picks Three Winners For Upstate CasinosState Officials Opt To Help Economies Upstate |
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New York officials on Wednesday decided that Sullivan, Schenectady and Seneca counties will be home to non-tribal brick-and-mortar casinos, the AP reported.
The Gaming Facility Location Board decided to give three projects the preliminary green light, instead of four, citing concerns about over-saturating the market.
Check out below for the full report.
New York is already home to a robust tribal gaming and racino industry that many are concerned about now with the gaming expansion plan, which was authorized by voters in 2012.
A total of 16 firms were interested in New York, including Caesars and Genting.
Winners will be subjected to further regulatory review before licenses are formally awarded.
According to the report, the three selected projects are projected to support more than 3,200 full-time jobs and generate $265 million in tax revenues, along with $136 million in licensing fees.
Officials also opted not to OK any proposals that aimed to be within about an hour of New York City and its 8.4 million residents. The idea is to help upstate economies. Here are the winners:
(1) The Montreign Resort Casino will be built in the Catskills town of Thompson on the grounds of the old Concord hotel. The $630 million project will come with an 18-story hotel, meeting spaces and an indoor waterpark. Its developer, Empire Resorts, operates through a subsidiary, the nearby Monticello Casino & Raceway. (2) The Rivers Casino & Resort at Mohawk Harbor in the city of Schenectady will be part of a larger redevelopment effort at a formerly blighted riverfront site. The $300 million development will include a hotel, a high-end steakhouse and more than 1,100 slot machines. (3) Lago Resort & Casino, a $425 million project in the Finger Lakes town of Tyre in Seneca County, will include 2,000 slot machines. It was the largest contender in the Finger Lakes-Southern Tier region.
According to PokerAtlas, New York currently has three poker rooms. The good news about the addition of non-tribal casinos is that there will likely be more options for poker players.
More casinos in New York also mean more gambling in the Northeast. Pennsylvania has more than 10 casinos, and just OK’d a plan for another casino in Philly. Massachusetts currently has three firms—including MGM and Wynn—building new gambling facilities there. Connecticut is also home to three successful tribal casinos. However, New Jersey has lost four casinos this year, which led to the concern about over-saturation in New York.
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