Real estate developers and big gambling establishments have now got something to look forward to. Three new full-scale casino licenses will soon be issued in New York City (NYC) area if all goes well. This has prompted all the big players in the business of casinos to vie for the rights to develop their mega-complexes.
The licensing fee would cost $500 million. Additionally, a minimum investment of the same amount in the property would be needed. Among those in the race to get in on the action are billionaire sports team owners and celebrities.
The applicants will need to present their vision, which has to be suitable to the state. They’ll also need to convince at least four of the six members in the advisory committee about its suitability. More importantly, their vision needs to meet all the environmental and zoning regulations. They’ll also be required to prove that they are capable of executing their plan.
Those who are a part of the gambling committees in the state legislature are optimistic about the plans. The gambling magnates and real estate developers want to bring the casino games to the five boroughs. They also want to bring them to the New York City’s northern suburbs and Long Island.
The Hotel and Gaming Trades Council has been pushing for this move since quite a long time. However, amid all the optimism there are fears that representatives of progressive neighborhoods in the boroughs might cause delays. They’re the ones who want to make sure that the voices of constituents are heard.
Besides, those seeking the licenses will need to go through an application process. They’ll be required to complete all the required formalities before they can begin constructing their gambling and leisure complexes.
What people are saying
Representatives of the people in New York City are of the opinion that casinos won’t be accepted by many. Some communities have opposed the proposed casino sites in key areas of the city. It is clear that some residents don’t want any potential issues related to casinos in their neighborhood. One also considers the fact that casino development plans have never received a wider community support.
Many kinds of gambling are legally approved in the state of New York. What most residents don’t want is the expansion in gambling activities. They’re concerned about issues such as addiction and its negative effects on the families. Those who support the expansion plans believe that the projects won’t suit the neighborhoods where they would be built.
They support such projects mainly because of their potential to create jobs for the local residents. Besides, the new casinos will also bring tax revenues in addition to the jobs. Since their opening, the upstate casinos have managed to bring in over $800 million in tax revenue.
The online casino scene in New York
The casinos in the state of New York currently offer online action through social casinos. They are totally legal in the state. While online casinos like Bovegas, are not legal in this part of the world, one can play social casinos online. They feature slots and table games for free and don’t involve real money. These casinos also give players the opportunity to win actual cash prizes through free entry tokens.