New York state currently has a ban on new casinos until 2023, but Gov. Kathy Hochul wants to repeal the 2014 law so that up to three casinos can open and thereby help the economy hit by the pandemic.
We should note that each new license would include a $500 million initiation fee, plus the promise of major construction projects that would mean thousands of new jobs.
New York City is an untapped market in the nation's largest metropolitan area, with a population of 20 million people and a constant stream of tourists.
Although nothing is definitive, major operators have shown interest in participating in this market and they are: Genting Group, MGM, UE Resorts International Inc, Las Vegas Sands Corporation, Wynn Resorts, Rush Street Games, Hard Rock International, Bally's Corporation and the Water Club in Manhattan.
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