Interests representing racing, real estate, and casino industries opened their wallets wide open to pay for lobbyists and campaign donations during a final frenzy when New York officials approved casino expansion plans.
A casino proposal offered by New York Gov. Andrew Cuomo will "cannibalize" as much as 85% of the state's current gambling industry, a racetrack casino association said June 11.
Gov. Andrew Cuomo said there is a big enough appetite for gambling in New York to permit the state to expand casino operations while protecting the interests of existing racetrack-based casinos.
The New York Gaming Association April 29 released a report that shows its nine racetrack-based casino facilities generated $1.8 billion in gross gaming revenue in 2012 and turned over $823 million in taxes to the state.
Hoping to convince state officials to give them full-blown casino rights, New York's racino operators say their financial performance continues to improve and is outpacing percentage returns of casinos in nearby states.
The Kentucky Horse Racing Commission has given unanimous approval for the sale of a 30% interest in Ellis Park racetrack to an entity controlled by Saratoga Raceway and Casino for $4 million.
New York lawmaker John Bonacic is opening the door to permitting more casinos in the state than the maximum of seven facilities being eyed by the governor and the legislature.
New York's racetracks say they contributed more in various tax and revenue-sharing funding during the first six months of the year than the casinos on the Las Vegas strip and Atlantic City combined.
A report done for the New York Gaming Association says the organization's members -- nine racetrack casinos in the state -- generate almost $2 billion a year in economic output.
New York state officials have agreed to seek approval of a constitutional amendment to permit expansion of Las Vegas-style casino gambling on non-Indian lands.
Racetracks across New York Sept. 7 will unveil a plan to amend the state constitution to permit them to offer a complete array of casino gambling as part of a proposal they say will raise revenue for the state and industry.
The major racino operators in New York are urging the state's new governor and legislative leaders to scuttle a deal made by former Gov. David Paterson with a Wisconsin tribe for a full-fledged casino in the Catskills area.
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