The expansion of Jake’s 58 Casino Hotel on Long Island, New York by Suffolk OTB will begin with a ground breaking for a $210 million project that will double the number of video lottery terminals (VLTs) by adding 1,000 and increase parking from 600 spaces to nearly 2,000, the New York Post reported April 14.
Suffolk OTB projects that the expansion will increase annual revenue by up to 42 percent to an estimated $388 million. Part of that is because it will alleviate shortages of terminals for the facility, which opened in 2017. Also on the menu will be new taverns, dining, conference space and reception areas. Suffolk will be building a brand new 110,000 square-foot building adjacent to the existing casino.
Suffolk OTB President Phil Boyle told the Post that the expansion—expected to take about two years—has nothing to do with the competition for New York City’s new casino licenses.
“We’re not vying for one of the licenses, and as a matter of fact, I think that wherever those casinos are located, we are going to be able to compete very well,” he said.
Boyle said the plan will “basically double the size of the current casino.” Forty-five percent of the facility’s gross revenue goes to education, with the balance divided between Suffolk County, the New York State Gaming Commission and horse racing.
The construction will create 800 temporary jobs, and 125 permanent jobs will be created when the project is complete.
At the same time, the state of New York is considering proposals for three new casinos in the downstate area. Bidders include Las Vegas Sands Corp., Hard Rock International and Wynn Resorts among a slew of others.
