New York Governor’s Budget Plan Could Mean More Casinos Downtown

By Jerry Smith Staff Writer Updated: 02/05/2022

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More Casinos Downtown

It has been reported that the recently unveiled budget plan from the New York governor, Kathy Hochul, could mean more casinos in the downtown area. At present, there are restrictions in place when it comes to issuing licenses for brick-and-mortar casinos, but this could all change as a result of the governor’s budget.

The governor recently revealed her plans for the budget for the coming year, and part of this was to speed up the licensing process for new physical casinos.

At present, the New York State Gaming Commission is prohibited from issuing more licenses for these casinos for another 12 months. However, under the new budget, a request for applications from the commission could be immediate.

Great News for the State

This news comes shortly after the launch of mobile sports betting across the state, and it represents more good news for the gambling industry.

Hochul’s budget director Robert Mujica said:

We will issue an order to get bids in … there’ll be a board that makes a selection process for casinos across the state largely — the three will be probably focused in the downstate area, but there’s no restriction there.

With three casino licenses up for grabs as part of the provision, there is likely to be a lot of competition from casino operators in the area. A number of likely contenders have already been identified, and the issue of the licenses could help to provide the downtown area with some much-needed expansion.

One of those that has outlined designs for a casino in the Manhattan area is UE Resorts International. The company has revealed some very elaborate plans that include a landing pad for flying cars, an arena for eSports tournaments, and huge event spaces that could be used for major sports events.

Another Boost for New York

New York, like other states around the country, has been hit hard by the impact of the global pandemic. This has resulted in many business closures, problems with the economy, and loss of revenue for the state.

However, by tapping into the popularity of casino gaming and sports betting, the area hopes to recoup some of these losses and aid regeneration. The launch of mobile sports betting is already having a positive impact on the state, and this will continue to help bring in more money and aid economic recovery.

With these latest plans outlined by the governor, recovery could be sped up considerably and it could mean another boost for state coffers. The state’s former governor, Andrew Cuomo, managed to get online sports betting and casino gambling legalized in the state, and the current governor now looks likely to speed up licensing of more casinos.

After what has been a very tough couple of years for the gambling industry across the country, this will come as good news for the industry and the state. It also means that gamblers in New York will be able to benefit from more entertainment and gaming facilities as a result of the expansion.