Well, it’s official, the request for a fourth casino license in New York, penned Governor Andrew Cuomo is under review by the New York State Gaming Commission. Due to quirky zoning regulations and outcries from politicians and businessmen, a license was not granted for a casino in the “true” Southern Tier. Cuomo has been dedicated since then to get a casino in a region with much need for an economic boost.
One group hoping a fourth license fails to pass are the local racinos. The racinos tend to be smaller operations, which could see a revenue collapse from a mega resort-casino built in the vicinity. The appointing of a license in Tyre, for the Lago Resort and Casino has not only confused most people, it’s also sent waves of fear over local racinos, most notably the Finger Lakes Gaming and Racetrack, just 27 miles west.
Chris Riegle, president and general manager of Finger Lakes Gaming said, “The cannibalization factor is so strong. In the end, the state, it’s not going to be any further ahead.”
The state’s racino operators claim Lago will create an unfair playing field, as they will not only be subject to a lower tax rate, but will also feature amenities not all gambling facilities are permitted to build. While many racino operators stress their main revenue stream comes from racing, which should not be affected, it’s nearly impossible to deny to massive impact a mega resort would have on business.
The anti-casino group The Coalition Against Gambling in New York even wrote a letter to a state Gaming Commission official urging against a fourth license. The letter claims casinos will be a “detriment” to both the residents and state. For once, the racinos may actually hope their message gets through.
Over in Schenectady, the Galesi Group has requested a change to the zoning code currently in place on the site of the Mohawk Harbor development, according to The Daily Gazette. Reportedly, the current zoning in place does not allow certain parking facilities, signage, and other important features. The zoning change itself is not required for the casino to be built.
New Jersey voters will potentially get a referendum this year, if passed, could see a casino in the Meadowlands. With this potential, Hard Rock International has decided to join forces with Meadowlands in a potential casino project. With Atlantic City decimated from increased competition in surrounding states, which is only set to increase in the future, a casino built further up the road in New Jersey may be an answer to combat falling revenues.
