MGM Resorts International and Genting Group already operate slot machine parlors at the racetracks in Yonkers and Queens and may be able to get new casinos offering blackjack and other games up and running quickly, creating jobs and tax revenue, he said. Read More: N.Y.’s $220 Billion Election-Year Budget Stuffed With Tax Breaks and Hard Rock International.Īlthough the three winners will be picked by state authorities from among all applicants, two operators are likely to have a leg up on the others, according to Joe Addabbo, the state senator who chairs the committee on racing, gaming and wagering. Still, some of the biggest names in the casino industry have been scouting locations including Las Vegas Sands Corp., Wynn Resorts Ltd. A six-member board of local officials will review siting proposals.Ĭasino operators in the state already pay some of the highest taxes in the nation. Lawmakers plan to approve an initial licensing fee of no less than $500 million, according to a person familiar with the matter who was unauthorized to speak publicly because the full language of the terms hasn’t been released yet. The bill language hasn’t come out yet and could always change before it is passed. Four have already been built in upstate New York.

The decision, which was part of the state’s overall funding package, moved up the date of a 2013 voter-approved measure allowing seven new casinos in the state. The full deal still needs to be voted on by the full Legislature. (Bloomberg) - The New York City area could get as many as three new casinos as a result of the new budget deal reached by Governor Kathy Hochul and state legislative leaders on Thursday.

Upstate ny largest casino bankruptcy