New York's Casino Referendum Will Expand Casino IndustryPublished November 27, 2013 by OCR Editor
Seven new casinos will be opened in New York by the end of 2014, thanks to the passing of New York's Casino Referendum, championed by Governor Cuomo.
Governor Andrew M. Cuomo of New York has been the driving force behind the passage of New York's Casino Referendum, which will allow up to seven new casinos to open in the state.
Gov. Cuomo has championed the expansion of New York's casino industry as a way to increase revenue and create jobs, especially in parts of upstate New York that are struggling.
Casinos will now be allowed to apply for licenses in New York, which will be granted in the second half of 2014. The State Gaming Commission will oversee the approval and licensure of the applying casinos; the largest determining factor will be the projected economic results of the casino.
The State Gaming Commission will also be responsible for creating a Gaming Facility Location Board, which will be a group of five members who have no personal or political ties to the gambling industry. The Board will assess local support for the exact locations of the casinos; the referendum states that the first four casinos must be located somewhere upstate. Developers are looking at the Catskills, given its close proximity to Manhattan.
Geoff Freeman, president and CEO of the AGA, commented on the referendum, "We applaud the vote that will allow the expansion of gaming venues in New York. The gaming industry represents an engine of economic growth and a driver of innovation -- it creates high-quality jobs and new businesses, leads technological advancements, increases opportunities for local suppliers, supports tourism and raises property values."