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Published on : Saturday, November 9, 2013
New York will launch its largest gambling expansion next year, relying on New York City residents and tourists to fuel a rebirth in struggling upstate communities. New York’s gambling extension comes at a time when casinos across the country are struggling amid growing competition.
The state is looking for a jackpot: $430 million annually, estimated from the four upstate casinos to fund education and local governments. The four casinos will be in the Catskills, Southern Tier, and Albany area. The final three, after a seven-year halt, would likely be in the New York City area.
New York has the two largest racinos in the world: Aqueduct in Queens and Empire City in Yonkers. They have developed in the New York City market because they give the city its closest gambling options. Whether upstate casinos can overtake the crowded landscape, have drawn skeptics. The Northeast is nearly saturated with 55 casinos.