The proposal of New York Governor Andrew Cuomo to allow the development of Las Vegas-style casinos in New York has been passed by the state’s lawmakers.
The new agreement will amend the state’s constitution to legalize public casino gambling in four resort-style casinos that will be spread around the state.
Cuomo was delighted to announce the deal and believes the addition of these gambling facilities, which will be filled with slot machines, will be of major benefit to the New York economy.
“Today’s agreement with the legislature would establish world-class destination gaming resorts to attract tourists to upstate New York,” Cuomo said in a statement.
“This legislation is a major step forward in our efforts to both capitalize on this economic development and tourism potential and end the trend of letting neighboring states with legalized gaming take revenue that should be going to our schools.”
However, gaining the approval of the state’s lawmakers was only the first hurdle for Cuomo and his casino proposal – he now needs to convince the voters to pass the proposal when a referendum is held later in the year.
According to The Associated Press this is far from guaranteed as a Siena College poll indicates that New Yorkers are split on the proposal despite the positive effects the addition of slot machines is sure to have on the economy.
Cuomo has estimated that once all four casinos are up and running they would produce revenue of roughly $1 billion a year to the state government, the majority of which will be devoted to New York’s struggling public schools system.
The deal even has in place funding for gambling addiction programs but do-gooders from the Coalition Against Gambling in New York, such as Dr. Stephen Shafer, are still against the proposal.
“We feel there should be no amendment at all to legalize casinos in New York State because the social costs to the people of New York that go with adding the casinos will be much bigger than any payments to the state and to any so-called funding of education,” Shafer said.
More details about the proposal are expected to be released next week and the constitutional change will go to vote in November – at the same time as the vote for New York City Mayor.
Source: Yahoo News
Leading slot machine developer International Game Technology announced yesterday plans to release a slot machine based on the popular musical turned movie The Phantom of the Opera.
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Bally Technologies has continued their push into the online marketplace by announcing two more deals that will see their popular games be available online.
The leading slot machine developer will launch their online gaming products in Europe for the first time thanks to their new agreement with European online casino provider iSoftBet.
Bally Technologies Interactive Senior Director of Sales Tony Plaskow said the company was excited to give European online slots players a taste of their popular games.
“We have been very successful at creating exciting and compelling products for our land-based customers,” Plaskow said.
“Thanks to this agreement with iSoftBet, online players in Europe will be able to experience the excitement of award-winning Bally games.”
Bally Technologies library of games will become even greater after they announced an agreement with gaming developer Interblock to host their games on their online casino networks.
Interblock is one of the fastest growing companies in online gambling and Chief Executive Officer Tom O’Brien believes the new deal with Bally Technologies will be of benefit to both companies as well as online casino players all around the world.
“We are excited about our new business relationship with Bally,” O’Brien said.
“The combination of Bally, an established global brand, and Interblock, will provide casino operators and their players the many benefits of a strong strategic alliance, bringing state-of-the-art casino content to the market.”
Bally Technologies Vice President of Business Development John Connelly said the deal continued the companies’ effort to expand their online slot offerings.
“Interblock is known for the quality of its products and we are excited to incorporate their best-in-class offering into the Bally iGaming platform,” Connelly said.
“This relationship further validates the current transformation within the online gaming sector, which integrates traditional and online casino systems, allowing casino operators to protect their data while offering their customers best-in-class content.”
The relationship with Interblock will see over 400 new online slots hosted on the Bally iGaming platform.
Source: Pymnts.Com
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The battle for the one slot machine license being offered by the Massachusetts Gaming Commission has heated up with the former Raynham Park dog track, owned by Greenwood Racing, negotiating a deal that would see it pay the Town of Raynham $1.1 million a year for allowing a slot machine parlor to be opened at the track.
Raynham Park is currently fighting it out with Plainridge Racecourse for the one available slot machine license and with this negotiated offer Raynham Park now has the edge over their opposition.
Not only would Raynham Park pay the city the pricy annual fee but there are sure to be a great deal of jobs created during the construction of the entertainment venue that would feature betting facilities, retail stores and restaurants.
Greenwood Racing must now win the support of voters in a referendum that is set to be held in August.
Greenwood Racing CEO Tony Ricci said more details about the project will be released in the lead-up to the vote.
“Over the next 60 days, we will provide voters with extensive information about this exciting development, which will be a beautiful addition to the social landscape of the town and will provide a significant boost to the local economy,” Ricci said.
Their major competitor Plainridge Racecourse is currently negotiating their own deal with the Town of Plainville and town Selectmen Chairman Robert Fennessy believes Raynham may have wanted to lock their deal in place to score an advantage in the negotiations but is unsure how the deal will affect his towns own proposal.
“There is only one license and it is up for grabs and the competition is heating up a bit,” Fennessy said.
There are two other developers seeking the license but neither have been able to find a physical location in Massachusetts and it is believed that Raynham Park and Plainridge Racecourse have the clear advantage.
Source: The Boston Globe
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Source: Market Wire
Governor Hoping Slot Machines Can Rejuvenate Economy
New York Governor Andrew Cuomo is hoping to pass a bill that would allow casinos to operate upstate and introduce a number of video slot machine parlors in New York to help boost the states sagging economy.
Supporters of the proposal argue that the introduction of slot machines would bring in a much needed $20 million per year for each county in the state.
The proposal will be the subject of heavy debate in the next few weeks with Cuomo and his supporters hoping that a referendum to get the approval of New York voters can be organised for as early as November this year.
Source: Long Island News
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