The new casino is set to bring in thousands of jobs and big bucks for New York state. The Las Vegas Sands company has already begun construction on its $4 billion development, which represents a departure from the traditional brick-and-mortar casinos that have dominated the industry for decades.
The “new casino in new york” is a project that will bring thousands of jobs to the state. The expansion will be able to help revitalize the area and give it a boost.
Many businesses have been struck severely by the unusual circumstances in recent years, and the hotel and casino industries in New York are no exception. However, there is some positive news for the sectors on the horizon. Legislators formally included the fast-tracking of downstate casino licenses at the beginning of the month, which should result in additional local employment.
The Empire State placed a freeze on the three downstate casino licenses a few years ago to give upstate casinos time to acclimatize to the local gaming environment. MGM Resorts’ Empire City Casino and Genting Malaysia’s Resorts World NYC are now speculated to be given a license and developed into full-scale casino resorts.
It’s a Win-Win Situation
With the introduction of the three downstate commercial casino licenses, the New York Hotel and Gaming Trades Council is one of the groups hoping to see an increase in employment in the state. If Empire City Casino and Resorts World NYC are both turned into full-fledged casinos, they would be able to create thousands of new employment in the area.
Rich Maroko, the council’s president, noted that the virus has had a significant effect on the hotel and tourist industries. The downstate licenses, he says, are a win-win scenario because they will expand casino options while also creating high-quality gaming and hospitality employment. Governor Hochul, Senate Majority Leader Stewart-Cousins, Assembly Speaker Heastie, and all legislators were praised for making it happen.
One of the council’s main employers, Resorts World NYC, offers full-time positions with complete benefits and incomes typically in the US$80,000 range. Sen. Joe Addabbo is also in favor of the casino’s expansion. He expressed his desire to see the expansion as soon as feasible since it would create much-needed construction and post-construction employment.
However, the other possibility, Empire City Casino, will require some time to evolve into a full-scale casino since it will need to construct a structured parking garage. That is, if one of the licenses is granted to the property. However, with just 97 acres of land in Westchester Country, the property will have a hard time building one for future development.
The budget has been approved.
New York State lawmakers approved in early April to put the three downstate casino licenses in the fast-track process. To completely secure the license, approved firms would have to spend approximately US$500 million in registration fees to the New York State Gaming Commission. The procedure will now be sped up by at least a year as a result of the ruling.
Mr. Addabbo, however, told Mr. Addabbo soon before the formal publication of the budget that the second much debated gaming expansion had been left out. The Senator hoped to see an increase in the number of mobile sportsbooks in the state, from nine to sixteen. He added that lawmakers considered the issue and decided to postpone the hike since the present approach is effective.
Mike Mazzeo, “Accelerated Downstate Casinos In New York To Provide Thousands Of Hotel And Gaming Jobs,” PlayNY, April 19, 2022.
The “flushing casino” is a new casino that will be built in Queens, New York. The project is set to bring in thousands of jobs for the city.
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