The battle for three casino licenses in New York City is upon us

As the old saying goes, “If you can’t handle the bull, get out of his way.” Another warns that adding fuel to the fire only increases the heat. As far as we know, none of us talks about what happens when you add your own fuel by advocating and advocating for your own interests or letting others do it for you.

Hell’s Kitchen is a part of New York City with a very different storied past than Times Square, just over a mile away. Center Street, Bowery, Canal Street and Park Row – the general setting of Martin Scorcese and Leonardo DiCaprio’s epic historical novel The criminal organizations of new york, it is only three miles away.

Set the stage for an epic battle

That backdrop should set the stage for what could soon begin in the competition for three new downstate casino licenses in upstate New York – the first true Las Vegas casino licenses ever issued in or around a bustling metropolis, in which is home to some 19 million potential casino customers. A market that some believe is potential most lucrative latent casino market in the world.

However, there are Three casino licenses available In New York State, possibly in and around New York City, most reports indicate that two of these licenses are “widely believed” to be for existing lottery casinos in New York yonkers and Jamaica, Queens. Existing casinos are relatively large gaming venues that already generate tens of millions of dollars, if not hundreds of millions of dollars, in tax revenues per year, employment benefits, and other financial implications for local communities and the state at large. They are also operated by world resorts And mgm, two of the largest casino operators in the world.

If two of the licenses are present as well as putting caution aside Simply by changing the way two major casinos account for their administration, revenue and maintenance, to more “real casino” standards rather than the simpler video lottery terminal and more electronic gaming table accounting practices. Or less fixed with more abrupt changes in gross gaming revenues for the more volatile games, or natural changes in deviations from the mean for “coin toss” games such as Baccarat Real, roulette or even baccarat, what will the state win?

That seems to be the elephant in the room’s question Most reporters don’t do that. We assume that all three licenses could be at stake because of “damn torpedoes”. New York State will choose those options that actually bring the most revenue and benefits to the people of New York, local communities and the state, because “that’s really the job, isn’t it?”

The state is not in business Do competitive companies a favor or at least it shouldn’t be, and if the existing “casino communities” and their affiliated gambling operators lose a little for the good of the state by creating three new revenues spreading “fucking cannibalism” then that’s just that, what the site selection committee is aiming for Will recommend – or should.

When it can be shown in the end that just by expanding the existing venues, more or less, greater benefits can be achieved for the entire country and the population requires existing operators without fear or favoritism, then that is what will, or should, determine selection about your work.

Back to the heat in the kitchen

If that’s the case, and the Interests of the most powerful casinos in the world On the verge of embarking on a contest for what may be the world’s most lucrative market, viewers and participants alike should be prepared for an epic clash of titans like never before, and it’s going to be so hot in upstate New York that an outside observer wouldn’t I can’t see any difference between Hell’s Kitchen, Times Square, Staten Island, Coney Island and other potential locations for a single new casino license. Or hell itself.

We saw amazing machinations for the placement, power and control of the Backcountry Casino Markets When the first Las Vegas-style casino cities and operators were chosen a few years ago – so-called “grassroots organizations”, false flag petition campaigns, misinformation, seriously flawed “gaming studios”, political upheavals and just about every other imaginable break in industry standard commercial decency and charm offensive that you can think of.

You haven’t seen anything yet

At the moment we are seeing self-promotion, goodwill advocacy and some local opposition to the proposal of each announced candidate. We see good “corporate citizens” presenting themselves as the most viable alternative, and none of the half-dozen such serious candidates have publicly attacked anyone else – and probably will not openly do so. Nothing “dirty” has surfaced yet and none of those vying for a new license outside of Yonkers or Queens have indicated that only one license is available, nor have the two “generally accepted plugins” indicated it.

MGM Resorts International, the owners of Empire City Casino at Yonkers Raceway in Yonkers have remained silent on the matter, as has Genting Malaysia Berhad – the actual owner of Resorts World New York at Aqueduct Raceway. And that’s a smart move. It is not so? That could change.

Come?

When the state opened the bidding process for the licenses, it set the minimum bid at $500 million and announced that it would be a bidding process. At least one player indicated that he would not go that route – he would make a proposal and negotiate in good faith, but not rush into a bidding process. Of course, there are many possible reasons for such a position. One of these could be that the country would show weakness if it proved uncompetitive at a high-priced auction, or that it might not have the resilience to be an effective world power if it did because of the “known Unknowns” of how many licenses might actually be at stake ties up resources in an untested market.

Perhaps the state of New York or existing video lottery terminal and electronic table game providers should clarify and inform the public as well as potential competitors precisely whether existing lottery casinos are on par with other competitors or will enjoy a potentially unfair advantage. For each new proposal we have examined, the call for proposals has taken into account the benefits to the community and other aspects that are expected of them. There’s still an elephant in the room, and if that elephant isn’t stared at and asked to dance, it could potentially become the number one piece of evidence in all the “sour grape” lawsuits that inevitably surface before anything is done. Said and done when the stakes are at stake are high.

For now, the question remains: how exciting will this competition be? Chances are the answer will be hot enough to create turning point after turning point, and hot enough to warp reality through the ages in a way that most people will end up happy to just switch off and getting on with life in the fast lane of gambling. However, it could also pose myriad risks to consumer confidence in every single process involved in bidding for US casino licenses.

If, following the issuance of the seven licenses currently approved in the 2013 referendum, voters approved two additional licenses by a simple yes or no majority, all stakeholders, including the public, deserve the reassurance of a clear and transparent process, with no wild guesses animals lurk. stumble. Around, or crashing across the room.

If that’s true, why not now? Yes NO now when? Bidders who can risk multiples of the “reserve bid” to build the casino, as well as the public, certainly deserve to know.

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