Another Company Shows Interest in Opening Casinos in New York City

Hard Rock In New York City

For years, officials in the state of New York have been looking into the possibility of allowing a real Class III gambling venue in the Big Apple. This news has attracted the attention of many of the country’s top gaming companies. This week, another prominent gaming company expressed interest in opening casinos in New York City.

There is reason to believe that a casino in NYC would be hugely successful. Several major companies are eager to see how things change here in the near future.

Here’s a look at the latest company looking to expand in New York.

Hard Rock Shows Interest in Opening Casinos in New York City

New York has a rich, unusual history of gambling regulation. Back in 2013, legislators agreed to a new measure allowing casinos to operate throughout the state. Unfortunately, specific laws were set in place that prohibited any casinos from opening their doors in New York City.

That could soon change. Several major politicians and business leaders in the state have recently made a push to allow a real casino inside NYC. These individuals point toward the massive opportunity to boost tourism and increase tax revenue with a casino-resort operating inside the city.

It now seems that Hard Rock is one company interested in opening casinos in New York City. Officials within Hard Rock revealed plans this week two open two gambling venues in the area, including one within the New York City limits. Jim Allen, a key figure within Hard Rock, spoke to the media about the possibility of opening a casino here earlier this week.

“We’re interested in both markets [New York and New Jersey], and if God is good enough to allow us to operate in both, we would be happy to do so,” Allen said. “How many casinos do you have lined up right here? One hundred percent, the market is large enough.”

Four commercial casinos and seven tribal casinos are currently based in New York. We’ll be sure to continue reporting on the push to get a casino in NYC over the next few months.

New York’s Online Sports Betting Launch Will Likely Come in 2022

New York’s entire gambling industry seems prepped to expand. Officials here are showing more interest in allowing more casinos in the state. Some feel it’s only a matter of time before several casinos in New York City open their doors.

The first regulated sportsbooks went live in New York back in 2019. Unfortunately, the laws set in place here did not allow for any regulated online sportsbooks to go live. Low revenue figures from this industry led state leaders to change their stance and a push to allow online sports betting has been ongoing here.

Not long ago, the NY Gaming Commission began accepting bids from major sports betting operators. It should come as no surprise to see some of the top sports betting operators applying for a sportsbook license here. That includes BetMGM, Caesars Sportsbook, and Barstool Sportsbook.

The process to launch internet sportsbooks in New York has been a long, arduous one. Fortunately, all signs point to the first online sports betting platforms going live here in 2022. Many analysts expect New York to quickly develop one of the largest sports betting markets in the United States.

New York’s gambling industry will always face competition from nearby New Jersey. Let’s take a look at how the casinos over in Atlantic City have been faring lately.

Gaming Revenue Continues to Increase in New Jersey

Since 2018, New Jersey has seen its gaming industry rapidly expand. Much of this is due to the legalization of sports betting in 2018. New Jersey was instrumental in getting PASPA struck down and has since developed the most successful sports betting industry in the country.

The casinos over in Atlantic City are benefiting from this expansion. These properties have been experiencing impressive revenue gains throughout 2021. That was once again the case last September when the casinos here managed to bring in $248.5 million in total gross gaming revenue.

Sports betting proved to be wildly popular here last September. For the first time ever, the sports betting operators in New Jersey took in over $1 billion during a single month. This is largely due to the start of the 2021/2022 NFL season.

There is reason to believe things will continue to improve here. Many of the casinos in Atlantic City are currently undergoing multi-million dollar renovations. The owners of these venues expect to see more surges in tourism heading into 2022.

Do you expect to see casinos in New York City anytime soon? Which company will gain permission to open a casino in the Big Apple? Let us know in the comments section below.