Assemblyman Gary Pretlow has long been a supporter of legalizing, expanding, and liberalizing the gambling industry in New York – a state often seen as a holdout by many gambling companies across the nation.
The Highest Bidder Is Still Not in the Room
Despite the slow momentum, plans for casino properties are gaining traction, too substantial to halt at this point. However, Assemblyman Pretlow feels a sense of urgency due to the lack of tangible progress, particularly regarding the delayed start of the bidding process.
In 2022, New York approved a decision to introduce three downstate casinos, with the casino bill sponsored by Assemblyman Pretlow and his colleague Senator Joseph Addabbo, another gambling advocate, signed into law by Gov. Kathy Hochul. Senator Addabbo also recently proposed to revise the rules for daily fantasy sports in New York.
Surprisingly, gambling is one of the few issues that do not divide along political lines, with parties largely in agreement. Assemblyman Pretlow stressed the issue with the delay of the bidding process in an opinion piece for the Yonkers Times, insisting on the need to expedite the arrival of downtown casinos to avoid costly delays.
“Black and Brown families are leaving the downstate region in droves because of limited career opportunities. School administrators struggle with meager budgets, and commuters face long commutes due to aging infrastructure,” he noted.
Assemblyman Pretlow aims for resolution and hopes for project rollouts as early as 2025. However, observers cite factors such as NIMBYism and bureaucratic red tape as potential causes for delays in downtown casino development.
New York Needs to Start “Flipping Cards”
The state cannot afford to wait, given its staggering $9.5 billion budget deficit. Awarding three licenses could alleviate some fiscal strain, generating $1.5 billion in revenue for the state, with each license priced at $500 million. However, the licensing fee might be subject to change, with New York possibly considering raising it to $1 billion a pop.
Assemblyman Pretlow believes this is feasible, but he emphasizes that the state must take action. Bureaucratic delays have hindered progress, postponing the bidding process for over a year.
According to Assemblyman Pretlow, New York’s upcoming casino projects could significantly impact the state’s deficit and create tens of thousands of construction and permanent jobs. However, for these benefits to materialize, the administration must prioritize and move forward.
Apart from turning to the public and the media, both Senator Addabbo and Assembly Pretlow have submitted a new proposal which they want approved, so that casino license bids must be submitted by July 31, 2024. The pair of lawmakers does not worry about companies missing the mark, as they believe that everyone interested is already prepared, but a bidding process must be commenced.
