Vol. 7 • No. 24 • June 29, 2009 - Print This Issue
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Vol. 7 • No. 24 • June 29, 2009, GOODS & SERVICES
New York State Lottery To Bring Electronic Table Games To Racinos
Body acts without thumbs-up from assembly; it will install versions of baccarat, roulette, blackjack and craps in eight racetrack locations
Don’t overestimate expected revenues, warns Lottery’s deputy director
The New York State Lottery has announced plans to install electronic table games at the state's eight racinos by mid-2010, despite the failure of the assembly during its session to approve them. A bill had already passed the Senate by a decisive 54-8 margin.
According to lottery officials, electronic versions of roulette, baccarat, blackjack and craps are legal based on prior court decisions, which means passage of a law allowing them was not necessary. However, without the law, racinos will not be allowed to expand their hours of operation. Currently, the racinos cannot stay open past 2 a.m.; some were hoping to be open 24 hours a day.
Estimates vary on how much revenue could have been generated by increased operating hours. Bill Murray, deputy director and general counsel for the New York State Lottery, said the move could have resulted in an additional $36 million statewide each year. Independent consultants have said table games could boost state coffers to the tune of an extra $250 million per year.
Murray told the Thoroughbred Times that the latter estimate is probably too optimistic, as all casinos get 85 percent to 90 percent of their income from slot machines or slot-like video lottery terminals.
“We're a little more cautious about how much it's going to add,” he told the Times.
Currently, Finger Lakes Race Track near Rochester is New York's only thoroughbred venue with expanded gaming. Plans call for putting 4,500 VLTs at Aqueduct in Queens borough. New York's other racinos are at its seven harness tracks.
Murray said the lottery does not anticipate a legal challenge to electronic table games.
“I don't think the legislation is needed to authorize electronic table games," he told 200 industry leaders at the New York Gaming Summit in Saratoga Springs. “We're moving forward. We've been moving forward since March.”
The New York State Lottery has announced plans to install electronic table games at the state's eight racinos by mid-2010, despite the failure of the assembly during its session to approve them. A bill had already passed the Senate by a decisive 54-8 margin.
According to lottery officials, electronic versions of roulette, baccarat, blackjack and craps are legal based on prior court decisions, which means passage of a law allowing them was not necessary. However, without the law, racinos will not be allowed to expand their hours of operation. Currently, the racinos cannot stay open past 2 a.m.; some were hoping to be open 24 hours a day.
Estimates vary on how much revenue could have been generated by increased operating hours. Bill Murray, deputy director and general counsel for the New York State Lottery, said the move could have resulted in an additional $36 million statewide each year. Independent consultants have said table games could boost state coffers to the tune of an extra $250 million per year.
Murray told the Thoroughbred Times that the latter estimate is probably too optimistic, as all casinos get 85 percent to 90 percent of their income from slot machines or slot-like video lottery terminals.
“We're a little more cautious about how much it's going to add,” he told the Times.
Currently, Finger Lakes Race Track near Rochester is New York's only thoroughbred venue with expanded gaming. Plans call for putting 4,500 VLTs at Aqueduct in Queens borough. New York's other racinos are at its seven harness tracks.
Murray said the lottery does not anticipate a legal challenge to electronic table games.
“I don't think the legislation is needed to authorize electronic table games," he told 200 industry leaders at the New York Gaming Summit in Saratoga Springs. “We're moving forward. We've been moving forward since March.”
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