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Casinos May Return to New York

Advocates of casinos in New York are working extremely hard to get legislation put through the next legislative session which begins on January 9th.

Advocates of casinos in New York are working extremely hard to get legislation put through the next legislative session which begins on January 9th

Advocates of casinos in New York are working extremely hard to get legislation put through the next legislative session which begins on January 9th

Pro-gambling groups believe that as a result of the economic impact of Hurricane Sandy combined with the state’s huge deficit, there is a real need to open up seven Las Vegas style casinos in the state.

If they manage to get the legislation through to the next session and it passes then voters would have to approve the measure in a state-wide referendum.

It is thought that the referendum would be held around November of next year.

Fighting against the legislation is the Oneida Nation which runs a successful casino in central New York.

They are arguing that building a casino requires a local, not state-wide referendum.

Additionally racinos, horce tracks that feature video slot machines such as the Aqueduct, are campaigning to have the slots run 24 hours a day (instead of 18), they would also like to add electronic games.

The head of the New York Gaming Association, James Featerstonhaugh, said that they believe a different mix of games would produce substantially more revenue for the state”.

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.

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