Upstate New York About To Build Another 4 Major Casinos


new-casino-in-albanyThere are now 16 companies competing for four casino licenses to be built throughout the state, with winners to be decided on by a state panel within the next couple months.

Albany will the recipient of another major casino, along with 3 additional casinos in the Syracuse and Binghamton (southern tier) regions of upstate NY.

The largest players in the gambling industry are betting on building in Upstate New York, including Mohegan Sun, Caesars and Genting.

“We feel very strongly that there’s room for additional casinos here in New York, I don’t think there’s any doubt that New York could handle another four casinos,” commented Thomas Wilmot, a Rochester-area developer, who is proposing a casino in the Finger Lakes.

There are certainly skeptics that believe New York’s casinos will be a detriment to the NY economy and will decrease tourism (which is obviously the complete opposite believe of the state and casino builders).

Much of this sceptisism surrounds the typical climate of casino towns, as well as the recent Atlantic City closings. Skeptics also point to fact that the Northeast casino market is nearly saturated with 51 casinos, including 11 in Pennsylvania. Three more are planned for Massachusetts.

What are your thoughts about building more casinos in New York?



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