Off The MRKT

View Original

Where Will New Casinos Be Located In New York City in 2023?

It is almost a shock that there is not a bigger gambling culture in New York City. Of course, gambling is big in most places around the world now due to its easy accessibility.  However, in New York City it is not as large as you may think for a major tourist destination for people all over the world and a city that is home to 23 million people. 

Gambling is a hugely popular activity all around the world. It has been around forever. With this in mind, it can only be assumed while humans have always felt the need and desire to gamble and to take joy from it, that it is likely that this will continue for all of humanity. 

See this content in the original post

Who is Involved in The Process?

Voters in New York first approved a Las Vegas-style casino in 2013. The Governor at the time Andrew Cuomo then authorized four Casinos to be built and open, however, due to legislative reasons this takes a very long time, with state gambling regulators stating that no official announcement regarding the opening date of these casinos is to be made until last 2023 at the very earliest. 

The application process will be overseen by three people who will decide where the casino is based. Vicki Been, a New York University Law Professor Quenia Abreu, President of New York Women’s Chambers of Commerce and finally Stuart Rabinowitz, another New York based lawyer working for Meltzer, Lippe, Goldstein and Breitstone. The process for the application has already begun, with Casino Operators and Estate Developers forming their official proposal ready to be submitted. 

While the process is taking a long time and shows no signs of speeding up any time soon, it seems certain that the casinos will eventually be built. Mayor Eric Adams is all for it, citing that the casinos would be a huge boost for the economy of the city. He himself has a background in gambling, having been the former chairman of the Racing, Gaming and Wager Committee while he was state Senator. 

Where Will These Casinos Be?

However, now we are to wonder where the exact location of these new casinos will be? If you were looking to buy the best property in New York City right now and were basing it on where one of these casinos will be, you may have to hold off for a bit. It is not confirmed whether all of these casinos will be opened in New York City itself, it is the state altogether that is having this conversation. However, Major Adams has stated how he would like at least two of the casinos to be in New York City. But where will these New Casinos be?

So far there have been confirmed proposals for there to be casinos built in Hudson Yards, Times Square, Coney Island, Nassau Coliseum, Saks Fifth Avenue, and Midtown East. There are also planned proposals for Willets Point and Trump Golf Links. Of course, this is still only at the proposal stage and nothing concrete can be said about whether any of these will even come to light. But is it certainly an exciting time for a casino enthusiast to be in New York. Where are the best casinos in New York already?

Change is a good thing and it is on the way. One can only hope that the increase of casinos in New York will lead to an increase of great casino films based in the city. Let’s hope that Martin Scorsese sticks around for long enough to make one more great New York set film with all his usual colleagues as a great welcome to the new scene on the way. The New York filmmaker has already made the classic film Casino, starring Robert De Niro, Joe Pesci and Sharon Stone, with the story being set around a Chicago-based gangster being sent to Las Vegas to oversee the daily operation of a hotel and casino. The film is considered a classic. 

But the classic status of this film is one of the few things that can be called fact right now. Until then there will be continued speculation and rumours as to when and where the casinos will be built. However, gambling enthusiasts can rest assured that the decision-making it going to be looked over in detail and the result will be a decision that has been given a lot of thought as to what is best for all parties. The future of gambling in New York City looks to be promising. 

See this content in the original post