Click Now!

Mark Gearan Named As Gambling Regulator

Mark Gearan Named As Gambling Regulator

The New York Senate recently announced that Mark Gearan will become the Chairman of the New York Gaming Commission in January 2015. Gearan, who is the President of Hobart and Williams Smith Colleges, was nominated by Governor Andrew Cuomo. This commission is responsible for overseeing all gaming and gambling in the New York state and on the 12th of March, members of the casino sitting board will be appointed.

Mark Gearan Named As Gambling Regulator

The President of Hobart and Williams Smith Colleges, Mark Gearan, has been nominated to become the Chairman of the New York Gaming Commission

In November last year, voters passed a state constitutional amendment which permits for the construction of Las Vegas-style casinos beyond the New York Indian lands. As a result, New York officials can now award four upstate casino licenses. This news came a day after the Seneca Gaming Corporation purchased land in Henrietta on behalf of the Seneca Nation of Indians for the possible construction of a future casino.

Meanwhile, the City Council in Saratoga Springs is expected to pass a resolution which states its concerns regarding the expansion of gaming in the area.

This comes after the Saratoga Casino Gaming & Raceway’s plans to make a $40 million expansion and to obtain a license that permits live-scale gambling with live dealers as opposed to only electronic games.

City officials are however concerned that this move of expanding gambling in the area will negatively impact the local retailers. The Mayor, Joanne Yepsen, also hand-delivered many letters opposing this move to Rob Williams who is the Acting Executive Director of the Gaming Commission.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

COMMENTS

comments