NY Lawmakers OK Accelerated Timeframe For Casinos

State lawmakers in New York have approved a schedule that speeds up the siting of three Las Vegas-style casinos in New York City or nearby communities, bloodhorse.com reports.

The world’s top gambling companies most likely will scramble to submit bids as they seek a stake in the highly profitable market, including the operators of the video lottery terminals at Aqueduct and MGM, operator of  VLTs at Yonkers Raceway.

In a major victory for New York’s horse racing lobby, the state’s new budget, approved April 9, holds financial protections ensuring there is no reduction or elimination of revenue-sharing payments from VLT operators if their facilities secure a casino license.

“Overall fan interest and engagement with New York racing has never been stronger, and the consistent support expressed by lawmakers in Albany will only further the sport’s role as an engine for economic opportunity that creates jobs in every corner of the state,” New York Racing Association Vice President of Communications Patrick McKenna said in a statement to the publication.

Read more at bloodhorse.com

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