Jimmy Fallon's Pros & Cons on the New Casino in Queens - Funny!

This is a great skit by Jimmy Fallon on the new casino in Queens....  http://www.imdb.com/video/hulu/vi1791401497/

NY Casinos News of the Week

(Links to full articles included)

Long Odds - City and State

“The state’s smallest racino cites taxpayer profits in argument for expansion

In the looming fight for legalized casino gambling, the state’s littlest racetrack casino has the longest odds.

Batavia Downs Casino, located 41 miles outside of Buffalo, is the state’s smallest racetrack casino, a fact that could hamper its chances of operating a full-fledged casino in the future.

But Batavia’s operators are arguing that as the state’s only taxpayer-owned racino, it ought to get special consideration for one of the seven spots.

Western Regional Off-Track Betting, which operates Batavia Downs, is owned by 15 counties in western New York, as well as the cities of Rochester and Buffalo. Each of the state’s nine racetrack casinos diverts about half of its revenue to state education programs, but Batavia Downs is the only one structured so that remaining profits go to local municipalities.”

 Officials are pessimistic about the future of racing - Times Union

“During the New York State Franchise Oversight Board meeting today, New York Racing Association officials described an uptick in handle and revenues but FOB members were unimpressed.

Because of the millions of dollars rolling in to NYRA from last fall’s opening of a video lottery terminal facility at Aqueduct, NYRA is able to spend more on purses, that may be attracting better horses, and improvements, said NYRA President Charles Hayward.

US settles longstanding grievances with US Indians - New York Daily News

“For Native Americans in the United States, forever always lasted just a few years.

The US government has concluded dozens of treaties with American Indians over the past 236 years. In almost all of them, the Native Americans were promised to be given land "forever."

But soon speculators, oil drillers and gold prospectors would turn an eye towards the remaining hunting grounds.

Washington and the country's Indian tribes warred militarily in the 19th century and judicially in the 20th. Now the two sides have agreed on a settlement of longstanding disputes, some dating back a century.

Schools to get $16.9 million from casino profits Buffalo News           

BATAVIA—The Batavia Downs Casino generated $16.9 million for education during the fiscal year than ended March 31, according to data released by the state’s Division of Lottery.

As part of the gambling license held by Western Regional Off-Track Betting, which owns and operates the harness race track, 51 percent of casino profits go to fund education. The nearly $17 million is about what two of Genesee County’s rural school districts will receive this year in state aid.

 NFL allowing limited casino ads USA Today

NEW YORK (AP) — The NFL will allow teams to accept advertisements for casinos and other state-licensed gambling-related establishments during the next two seasons.

Those ads can appear only in game programs, on local radio broadcasts and in the upper bowl and inner concourses of stadiums….

Cappelli to Return to Bond Market - Crain's New York Insider

(subscription required, full article posted below)

A lawsuit last fall by Empire Resorts, the company that owns the racino in Monticello, stopped Westchester developer Lou Cappelli from trying to raise $400 million in the bond market to finance a nearby hotel and racetrack on the site of a former Borscht Belt hotel. The suit was dismissed in February, clearing the way for Cappelli to return to the bond market in the next 45 to 60 days, said Cappelli associate Henry Zabatta. Meanwhile, Empire Resorts—a publicly traded company whose majority shareholder is associated with Aqueduct Racino operator Genting—was scheduled to publicly present its plan last night for a new Catskills racino adjacent to Cappelli's property.

When Gambling Is Good: NY Schools Get $667 Million In Aid From Racinos - Gothamist

“While the scenes at the opening of the new Resorts World racino in Queens may seem depressing to some, having people throw away their hard-earned money has one upside: More aid for schools! According to the Post, "New York’s nine 'racinos' generated $667 million in aid for schools last year — an increase of 28 percent."

Apparently the Resorts World at the Aqueduct generated $100 million in its first five months while the "Yonkers Raceway’s Empire City racino generated $315 million for education during the 2011-12 fiscal year that ended on March 31." All racinos must "dedicate nearly half of the “net win” to the New York Lottery Division to fund schools. In addition, racino revenues also help finance the horse-racing industry and assist local governments."

State's Racino Revenue Gets Big Boost From Aqueduct - NY 1

New York's racinos are turning out to be a winning proposition lately.

The nine racetrack casinos owned and operated by the New York Gaming Association brought in about $1.3 billion last fiscal year; an increase of 30 percent over last year.

Nevada revenues up again; Atlantic City down; New York racinos up in 2011 - Casino News

“In New York, revenues at the state’s nine racinos came in at $1.43b in fiscal 2011 (ending March 31). That’s up 29% from the previous year. The Aqueduct, which only opened its doors in October, brought in $252.7m in net revenue – more than the full year totals of seven of the other eight racinos.

Monticello Casino and Raceway generates $24.4 million for state education - Mid Hudson News

Monticello Casino and Raceway generated $24.4 million for education in New York State during the 2011-12 fiscal year, according to data released by the New York State Division of the Lottery. A total of 39 percent of the facility’s net win goes directly to the Lottery to fund education.

New Yorkers nearly split on expanding casino gambling - Albany Business Review

“New Yorkers remain divided on the issue of expanding non-Indian casinos in New York state, according to the latest Siena Research Institute survey.

The poll found 50 percent of those surveyed support expanding gambling while 46 percent oppose it.

“It is not a partisan or regional issue,” said SRI pollster Steven Greenberg.

Life Gets In the Way

Apologies for my absence these past few weeks folks but life can get in the way sometimes and the health and well-being of loved ones pulls us away from our work at times.  I've been scouring the papers for recent statewide articles on the hot-button issue of legalized table games (aka Las Vegas style gaming) and will post my findings shortly. 

If you find any that I haven't posted here, please feel free to share.  And as always, your comments and feedback are welcome.

NY Casinos News of the Week

Big wager, big questions at Aqueduct - Newsday
The greatest city in the world ought to have the largest and best convention center in the nation. But taxpayers shouldn't pay for it.If Genting Group, the Malaysia-based gambling behemoth, and Gov. Andrew M. Cuomo can make that happen in Ozone Park, with Genting paying, great. If, as advertised, the plan is transparent and elevates the community -- while opening up the West Side of Manhattan to better uses by replacing the Javits Center -- there's reason to cheer it.

A Good Bet - New York Observer

“Yes, gambling is going on all around us, and nobody is shocked to hear about it. That’s why Governor Cuomo and the State Legislature were right to take a big step toward the construction of seven new casinos in the state. Simply put, if you don’t build them, they won’t come.

Thiele Opposes Casino Legalization in New York - The Sag Harbor Express

“Currently, New York State only allows gambling at Native American-run facilities, although companies are allowed to have video gaming at racetracks in Yonkers and Queens. This change in the state constitution would allow companies to operate seven public casinos in New York, although the state can only legalize casinos if two elected state legislatures adopt this amendment. This is the first time the legislature has voted on the amendment meaning a second vote will be held next year before casinos are legal in New York.

New York State Assemblyman Fred W. Thiele, Jr., opposed the change in law. He noted the assembly passed this amendment with almost no information in terms of where the seven casinos would be situated, what rules they will follow or whether or not a municipality will be able to enact its own legislation to prevent a casino from being built in its community.

Gaming committee chair says lawmakers will discuss Meadowlands casino prospects this year - nj.com

“The chair of the state Assembly's oversight and gaming committee says hearings will be held this year on the prospects of bringing casino-style gambling to the Meadowlands.

"Hopefully in the very near future we'll be conducting hearings into the potential of having a casino in the Meadowlands vicinity, and I think we see some positive feedback on that," Assemblyman Ruben Ramos, D-Hoboken, told NJTV recently.

Ramos' comments breath some new life into the proposal, which seemed squashed earlier this year after a plan to create a 13-member commission of lawmakers to study the expansion of gaming outside of Atlantic City was abandoned.”

New York’s first full gaming legislature passed - Queens Courier

Senator Joseph Addabbo, a member of the Senate’s Racing, Gaming and Wagering Committee, released a statement following the announcement of the legislature’s passing. Although Addabbo was absent for this process, he supported the passage of New York State Gaming legislation.

“It is a step closer to having our residents vote on a referendum that could bring full gaming to the state,” said Addabbo. “It is a step closer for my constituents to have thousands of additional job opportunities at Resorts World. It is a step closer for our local communities, businesses, along with city and state governments to realize a greater potential for revenue growth.”

While Addabbo applauds this move forward, he advises that future maneuvers be done cautiously, utilizing community participation.

Assemblyman Oaks Reviews Legislature's Action - Finger Lakes Daily News

“The Legislature voted to add 17 words to the state constitution with the goal of legalizing commercial casino gambling. The amendment would allow non-Indian casino gambling at no more than seven facilities in yet unnamed locations. Before any of the casinos can be built, next year’s state Legislature must also adopt the measure, and then it would be voted upon by the public in a referendum.

Continuing the whirlwind pace in Albany, budget conference committees have begun meetings to work out differences between the Senate and Assembly budget resolutions and the governor’s $132.5 billion proposal. Significant progress is being made in negotiations making likely final 2012-13 state spending plan will be passed ahead of the April 1 deadline.””

State lawmakers tying up loose ends to successful but secretive session - Democrat and Chronicle

“One would have to go back a long way to find a year in which passage of New York’s state budget was an afterthought. And yet that’s exactly what it seems to be this year, both in terms of public interest and political participation.

Having gotten many of the thornier, big-ticket issues out of the way last week, state leaders are predicting they’ll easily meet the April 1 budget deadline despite a price tag that will come to somewhere around $132.5 billion.

This legislative efficiency would be worth cheering, were it not achieved through dead-of-night sessions by Gov. Andrew Cuomo and legislative leaders. While the results — pension reform, a redistricting deal, expansion of the state’s DNA database and steps toward legalized casino gambling — were staggering, the behind-the-scenes nature of the agreements was no less so.”

Cuomo creates the conditions for a casino ‘feeding frenzy,’ and that may be the point - Capital New York

“Gambling institutions and interest groups are stepping up their lobbying efforts after Governor Andrew Cuomo's successful first step toward legalization of casino gambling in New York, Jim Odato reports.

As part of last week’s legislative all-nighter, the legislature passed a bill allowing full-fledged casinos, complete with table games like blackjack and poker (complete with human dealers) in New York State. It's the first step in the three-step process required to amend the state constitution. The legislature also has to vote the same way next year, and then send it to the voters for a referendum.

The governor has cited as a rationale for changing the state constitution the peculiar fact that some electronic table gambling and electronic slots are legal in New York while regular gambling is not.”

Cuomo creates the conditions for a casino ‘feeding frenzy,’ and that may be the point - Capital New York
“Gambling institutions and interest groups are stepping up their lobbying efforts after Governor Andrew Cuomo's successful first step toward legalization of casino gambling in New York, Jim Odato reports.

As part of last week’s legislative all-nighter, the legislature passed a bill allowing full-fledged casinos, complete with table games like blackjack and poker (complete with human dealers) in New York State. It's the first step in the three-step process required to amend the state constitution. The legislature also has to vote the same way next year, and then send it to the voters for a referendum.

The governor has cited as a rationale for changing the state constitution the peculiar fact that some electronic table gambling and electronic slots are legal in New York while regular gambling is not.”

Musical chairs develops for seven casino slots Times Union

A slew of well-financed and influential groups are lining up to carve up, promote or kill a deal to allow for casinos in New York.

Big-money operators in Las Vegas, protectionist Indian nations and some of the largest companies in New York are engaged in strategies to push Gov. Andrew Cuomo and the Legislature one way or the other. For instance, the Oneida Nation, operators of Turning Stone, the longest-running casino in the state, just hired former Clinton-Gore operative Christopher Lehane, once named by the New York Times a master at political dark arts, to head up a new team to warn of oversaturation of the gambling market that could threaten jobs and economies. Lehane once worked for Cuomo's attorney general campaign.