As the race to secure New York's coveted downstate casino licenses heats up, Yonkers Mayor Mike Spano is pushing the state to quickly approve existing slot venues Empire City Casino and Resorts World New York for full table gaming licenses. Citing significant potential economic benefits, Spano is urging the New York State Gaming Commission to not delay their decision past the already set December deadline. "We have two racinos whose owners are ready to pay the State a billion dollars in application fees today, and to start generating hundreds of millions of dollars in new taxes tomorrow," Mayor Spano stated, in remarks detailed by Casino.org News. With entities like Wynn Resorts and Las Vegas Sands recently backing out of their bids, the push for expediting the license issuance process has gained momentum.
The call for hastening approvals is grounded in economic strategy. Mayor Spano emphasized that amid looming federal budget cuts and uncertain economic forecasts, green-lighting these licenses could significantly benefit the state's economy. Spano shared that the two existing properties are ideally positioned to quickly transform into traditional casinos, potentially creating thousands of jobs and yielding increased revenues for both local governments and the education sector. "They've been good partners. They provide a lot of revenue right now. They're up and running. People are used to them being there, so the opposition wouldn't be there," former New York gaming official John Sabini told CBS News New York, highlighting the existing casinos' operational advantage.
The gaming landscape in New York City area is poised to experience a major shift should Spano’s recommendation be heeded. Empire City Casino, owned by MGM Resorts International, has already expressed readiness to expand and become a full-scale entertainment venue if it acquires a full gaming license. Parallel to this, Genting's Resorts World New York in Queens has announced a $5 billion investment plan to enhance its facilities, alongside a $1 billion tax pledge to the state. This move was further bolstered by a strategic Genting partnership to build 50,000 affordable housing units across New York's five boroughs, a commitment that was also reported by Casino.org News.
Spano, whose city stands to greatly benefit from an Empire City upgrade, has been vocal about his position, routinely pointing out that the protracted licensing process could be costing New York crucial revenue streams. "New York should move ahead right away with the two proposals that enjoy community support and are shovel ready to go," Spano urged in a statement obtained by Casino.org News. He has, however, encountered resistance from some parties intent on seeing the licensing process play out in full, ensuring all competitors have an opportunity to submit proposals by next month. With the state's announcement on the three license winners expected before year's end, stakeholders and observers alike are looking keenly at how the commission will navigate these demands against the backdrop of potential economic benefits.
