NYC casino frenzy won’t pay offBy NY Post Editorial Board
July 30, 2022
New York politicos just can’t quit casinos, and their gambling addiction is going to hurt average Empire Staters.
The state Gaming Commission OK’d up to three new venues downstate; Mayor Eric Adams has signaled he wants two in the Big Apple. And now developers, gaming operators and other fat cats (including Adams backer Steve Cohen) are racing to land the lucrative licenses.
That Adams and Gov. Kathy Hochul (who’s taken campaign donations from major players across the casino scramble and has also advocated for gambling expansion) are on board with this is New York politics at its worst.
Casinos simply don’t deliver the benefits their advocates in government claim — and New York’s were in big trouble even before the pandemic slammed them shut.
In 2018 three upstate joints fell $200 million short of expected revenues, for example (despite big promises from then-Gov. Andrew Cuomo, another casino pusher). Indeed, Albany ended up subsidizing in 2017 a racetrack with slots that had its business taken away by new casinos.
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Source:
https://nypost.com/2022/07/30/nyc-casino-frenzy-wont-pay-off/
