For years, several officials in New York have been pushing to open a new casino-resort in New York City. This idea is now beginning to gain attention from powerful individuals in the state. That includes Andrew Yang. New reports claim that Yang now supports the New York City casino plans.
It’s exciting news for gambling proponents in this state. Some, however, feel this isn’t the right time to discuss opening a casino in the city. Today, we’ll talk about what exactly might be coming to New York City in the future.
Let’s get into it!
New York’s Casinos Are Continuing to Struggle
For many years, New York was known as one of the most anti-gambling states in the country. Lawmakers here began cracking down on this industry decades ago due to its connection with crime groups. Some felt that we’d never see a booming casino industry here.
Eventually, the state began allowing Native American-run casinos to begin operating in the state. These grew extremely popular with residents and revenue started to increase. In 2013, officials in New York decided to pass a bill to allow commercial casinos in the state.
This was a huge moment for the country’s gambling industry. It became clear that New York saw the upside in gambling. Several commercial casinos have since opened in the state, mostly in the Upstate area.
2020 proved to be a devastating year for New York’s casino industry. In March, all of the casinos here were forced to shut down. They reopened over the summer, yet all of the casinos in the state have seen extremely low revenue figures since that time. Some are at risk of a permanent shutdown.
New York isn’t alone in this situation. All major casino destinations around the US are seeing extremely low revenue figures right now. It’s a complicated issue that even the top gaming experts are having a difficult time solving.
Could opening a casino-resort in New York City help things? Some certainly think so. That includes one man currently pushing to become mayor of NYC.
More Show Support for New York City Casino Plans
It’s clear that New York has changed its stance on gambling over the past few years. Interestingly, nearly all of the casinos in this state are located in the Upstate area. Many state leaders have been hesitant to allow any casinos in New York City.
Some now feel this is the time to make a change. We’ve seen several states open major casino-resorts lately. Prior to 2020, these venues were proving to be hugely successful. Even Chicago has recently approved a measure to open a new casino-resort.
This week, NYC Mayor-hopeful Andrew Yang gave his opinion on this situation. He addresses the fact that casinos can bring a variety of issues. Ultimately, however, he supports the New York City casino plans due to the massive revenue potential.
“We need big ideas,” Yang tweeted this week. “There are many downsides of casinos but the upside is $700m+ recurring annually largely from tourists now going to CT and NJ. That’s money for teachers, hospitals and other services. We should be trying to grow revenue where possible.”
Yang certainly has a point. Many gambling fans based in New York City are heading to neighboring states to play their favorite casino games. Opening a gambling venue in the city would help to keep this money inside the state.
It will be interesting to see if these plans move forward over the next few years. Many feel that Andrew Yang will end up becoming the next Mayor of NYC. Perhaps he will push these casino plans forward. Stay tuned for updates!
Will New York Approve Mobile Sports Betting This Year?
The casino industry in New York is growing at a steady pace. Prior to 2020, this industry was helping to bring the state valuable revenue in the form of taxes. Hope is that casinos here begin seeing pre-pandemic levels of revenue over the next few months.
As many know, New York also legalized sports betting years ago. Unfortunately, only land-based sports wagers are available here. It’s unusual, as online sports betting has proven to be a far more lucrative industry.
Many are now calling for mobile gambling to finally be approved in 2021. There are several bills to start regulating this form of gambling moving through the legislative process. Many believe lawmakers will give online sports betting the green light this year.
That will be bad news for New Jersey. This state has seen massive revenue figures from its online sports gambling industry over the past twelve months. Many sports fans in New York make the move into New Jersey’s borders in order to place online sports wagers.
If New York’s online sports betting industry goes live, this money will stay inside the state. It’s a similar thought process to the New York City casino plans. Officials in the state are tired of seeing money go into other parts of the country.
Do you think a casino should open in New York City? Would this be successful? Let us know in the comments section below.