The state of New York wants in on the gaming industry. State officials have plans to create new casinos all around the state in 2016. New York officials are strongly considering building these new gaming facilities in the Catskill Mountains, Schenectady (a location near Albany and Saratoga Springs) and at a location near Rochester and Syracuse. Tioga Downs is another place that is being considered as a gaming site. This area lies west of Birmingham, New York.
Officials have a vested interest in setting up casinos throughout the state. Lawmakers realize that the state of New York will benefit immensely from the profits that casinos will generate. However, New Jersey state officials and casino operators are not happy about New York’s push for new gaming facilities.
The state of New Jersey has plenty of casinos and gaming outlets. Since 1978 the state monopolized the gaming industry along the northeastern seaboard. Unfortunately, New Jersey has been losing money over the past 10 years with their gaming facilities. Many of New Jersey local residents do not want any more casinos, but New Jersey residents are going to have to vote this fall to decide.
In November of 2016, New Jersey residents will have to figure out if enough people want to build new casinos on the northern edge of the state. The new Casinos will be constructed near the border of New York. A lot of New Jersey residents are in favor of this new move. Once again, there are two opposing sides to this issue and New Jersey citizens are going to have to battle it out at the polls. The outcome from this election will determine if these new casinos will be manufactured or not.
Keep in mind that the state of New York has put a casino ban casino development within New York City and its suburbs. The ban was put into effect back in 2013. The ban was self-imposed by the state because it would have interfered with the development of new casinos in other parts of the state.
New York City is a huge metropolitan area that would have easily drew a lot of people to its gaming facilities. The other in-state casinos would not have been able to compete. Once this ban is lifted, NYC is going to give the whole entire state of New York and its neighbor, New Jersey, something to worry about in terms of gaming.
Atlantic City is New Jersey’s gaming stronghold. This particular city within New Jersey is known all over the world for its gaming industry. Atlantic City was slowly going into decline during the early 2000s. By 2007 the city’s gaming industry was hard hit by the effects of the recession. Since that time, the industry never fully recovered and has been steadily losing profits throughout the years.
Apparently, many people no longer travel out to the city’s gaming facilities. As a result, many gambling institutions are dwindling away or have completely closed their doors. This is why many residents have mixed feelings about new casinos being built in the New Jersey area; many people do not believe that newer gaming facilities will help to revive the state’s economy.
In the past, New Jersey’s gaming industry employed 30,000 people. Thousands of other businesses indirectly generated huge profits from this industry. As a result, the state of New Jersey was well financed. This is another reason why state officials do not want casinos built in New York. New Jersey leaders do not want their residents traveling up north for gambling and recreation. It would simply take more money away from New Jersey’s economy.
The state of New York has already spent a $150 million dollars on licenses for the proposed casinos. Investors are also helping to fund the casinos with their own finances as well. The money is in place and the casinos are going to be built. It is just a matter of when. Even with the New York City casino ban possibly being lifted; the state as a whole is poised to make a great deal of money from all casinos combined.
New York State Assemblyman Gary Pretlow says that the state of New York is now a leader within the gaming industry. He also points out that the state of New York has a vested interest in gaming and that New Jersey will not be allowed to take away from that. New Jersey has lost its dominant position as the number one gaming spot in the region.
Pretlow went on to explain that New York will not give up their newfound position just to appease their neighbors. Ultimately, if the state of New Jersey wants to take back their former position; state officials and local residents are going to be in for a hard and long battle with the state of New York.