In the buzzing metropolis of New York, where the cityscape is as varied as its people, undercurrents of change ripple through Queens, manifesting in a heated debate on the future of gaming. The Empire State, grappling with a post-pandemic financial crunch, casts its eyes toward the shimmering allure of iGaming to refill its coffers, much to the dismay of the hardworking folks at Resorts World New York.
The architect of this bold initiative is none other than State Sen. Joe Addabbo, a figure well-acquainted with the race tracks and casino floors as chairman of the Committee on Racing, Gaming and Wagering. The corridors of power echoed with the reintroduction of Senate Bill 856 (SB 856) by Addabbo, stirring a storm of concern among those employed by the Resorts World racino. Like a Greek chorus of discontent, nearly 700 steadfast workers raised their voices in protest, fearing the specter of iGaming would cast a shadow over their livelihoods.
The Hotel & Gaming Trades Council union, a titan of organized labor, thundered on behalf of its members. “We find it appalling,” they declared in a letter etched with indignation, “that you are pushing legislation that would hurt workers like us and our industry in order to benefit a handful of companies who are seeking massive profits at our expense.”
Bhav Tibrewal, the union’s political maestro, forged words into weapons against iGaming, asserting that the time had come to compel Addabbo and the Democrat-leaning policymakers to abandon their digital casino dreams.
The financial saga of New York is a tale of woe and hope. Once bustling with affluence, the state now laments the exodus of the moneyed and corporate giants, who once fed the tax coffers generously. With the echoes of lost prosperity in the background, New York places its bets on gaming to rekindle its fiscal fortunes. Mobile sports betting, a newcomer to the state’s revenue repertoire, has swiftly ascended the ranks, coronated as the national leader in handle, despite—or perhaps because of—a towering 51% levy.
The impending issuance of three coveted downstate casino licenses dangles the prospect of a financial windfall, promising bidding wars with multimillion-dollar stakes. And yet, despite these tantalizing gains, the issue of iGaming remains a thorn in the side of Resorts World New York.
Their argument hinges on a simple truth: should New Yorkers fold into the ease of online betting, the profits would bypass the hands that deal the cards, pour the drinks, and animate the casino floors. Meanwhile, iGaming companies, their coffers swollen from the rivers of digital dollars, lend their weight to Sen. Addabbo’s cause, aligning their interests through campaign contributions topping $77,000.
Sen. Addabbo, undeterred by the clamor, looks to the horizon where iGaming looms as an inevitability. Neighboring states have already embraced the online renaissance, and he foresees a golden era where New York could reap between $800 million and $1 billion annually through iGaming.
While the workers of Resorts World New York voice valid concerns, it’s curious that silence prevails over the prospect of a new land-based casino possibly joining the Queens locale. In this intricate dance of progress and preservation, only time will reveal the ultimate victor.
