New York to Legalize Casino Gambling

Submitted by Gary on Tue, 2010-08-17 at 15:38

New York Casino Gambling The days of taking trips across the Lincoln Tunnel to Atlantic City are over, Governor David Paterson has approved a new bill that would legalize casino gambling in the state.

As early as next month, the Aqueduct Racetrack in Queens could see the installation of over 4500 new video machines. Genting New York would be the company to complete the task, if the legislation is approved by the state attorney general in the coming weeks.

Bringing online gambling to the state of New York has been a long and laborious protest. Although the key players in the law making process want to legalize the activity, the realization of that dream has been stalled by numerous scandals. Over the years, casinos have fallen victim to bankruptcy and funding problems, making it difficult to convince the attorney general that casino gambling is a good idea.

Rather than simply placing slots in the building, Genting has also agreed to revamp the old racetrack, transforming it into a ‘posh, two-story gambling hall’.

Genting has offered to pay $380 million up front as a licensing fee. This is a critical part of the decision-making process, as New York is in dire need to extra revenue for the state. Genting has already predicted that more than $1.5 million in tax revenue will also be generated by the new machines, providing the state with a much-needed source of consistent income.