By
Jane Shaw
Senior Editor Updated: 11/04/2023
We count on Jane to inform our readers about the latest slot games in the US market. With her passion for video games and a degree in engineering, she’s our gambling tech expert. Jane’s also active in our blog section, where she tackles the curiosities and changes in the industry.
Fund Proposed to Protect Casino Workers
It has been reported that as New York lawmakers strive to bring online casino gaming to the Empire State, Sen. Joe Addabbo and Asm. Gary Pretlow are considering a creative approach to help generate support.
They are looking at the introduction of a $25 million fund aimed at safeguarding the interests of brick-and-mortar casino employees, who many believe will suffer should online casinos be legalized in the state. They hope this move will secure the backing of the influential New York Hotel & Gaming Trades Council.
In 2023, the New York Hotel & Gaming Trades Council played a key role in blocking the progress of online casino legislation, citing concerns over potential job losses and the ‘cannibalization’ of resort casino workers’ livelihoods. In an interview, Addabbo said he believed the proposed fund would demonstrate the legislators’ commitment to protecting existing casino jobs while ensuring growth within the industry.
The proposed fund would be allocated annually, aiming to mitigate any adverse impact on traditional casino employment due to the development of online gaming. Addabbo and Pretlow are keen to showcase the potential for job creation within the live-dealer and studio worker sectors of the online casino industry, adding that these positions would be unionized and spread across the state. Addabbo stated:
This is a concerted effort to reassure our brick-and-mortar colleagues that we are in this together. The $25 million fund is a tangible demonstration of our intent to protect jobs and ensure the stability of their livelihoods while we explore new avenues of revenue for the state.
Brick-and-mortar casino operators are also reportedly in favor of the introduction of iGaming, viewing it as an opportunity for cross-promotion and a means to attract a new customer base. Lawmakers have said that the connection between online and offline gaming could ultimately result in a win-win situation, boosting revenue while preserving jobs.
As New York struggles with a looming $9.1 billion budget deficit, as projected by the state comptroller, the search for new revenue streams has become increasingly urgent. Addabbo and Pretlow are touting their online casino bill, which also includes provisions for an online lottery, as a viable solution with the potential to contribute over $1 billion annually to state finances.
With the state’s financial health in jeopardy, the inclusion of online casino revenue in the upcoming fiscal discussions has become a focal point for many. Addabbo is said to be working hard to finalize the legislative details before January comes around, as this could help to ensure that the topic is on the agenda when Governor Kathy Hochul releases her executive budget.
He said that if they could get the governor on board and demonstrate a commitment to protecting jobs, online casino gaming could finally become a reality in the state – something that could hugely benefit the state and its residents.
Addabbo added that it was now time to act and that he was ready to take charge in a bid to bring the legislation to fruition.
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