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Thread: NYC Casino?

  1. #31
    Chief Antagonist Ninjahedge's Avatar
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    Wall street sucks money from other places AROUND THE WORLD.

    Watch what you call assinine "Mike".

    You think a casino will get money from Hong Kong? That people will travel fom around the world, as they do for LV, to come to NY to gamble? You want NYC, which has no real problem generating income, to become like LV? More tourist attraction, giant glowing pyramids and the like?

    Also, look at the population of Nevada, and their states GSP. Saying that gambling provides them with 1/3 of their money (or whatever vague proportion you pulled out) does not directly compare to NYS or NYC.


    Bottom line. Gambling is NOT A FEASABLE SOLUTION.

  2. #32
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    Tourism is now the biggest industry worldwide, so I'm not sure why you'd reject an opportunity to expand its presence.

    Do I think it's necessary for New York to have a casino? No, of course not. But I don't see any reason why it can't be done.

    The point about casinos draining money from people is ridiculous. I've been to a few casinos in my time, and I can control myself. If you start losing enough money that is actually going to impact your ability to pay bills, you need to walk away. Same thing with the stock market.

    Oh, and in case you didn't know, there's a lot more to Wall Street than scamming people on stocks.

  3. #33

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    It's perfectly feasible solution. It's being used with good success all over the country.

    But everywhere you go, there seem to be social nannies that insist on protecting adults from themselves. You are obviously one of these. And the nannies alway overstate the negative to get their way. Obviously I'm not going to change your mind, but I'm not going to let your position go unanswered.

    When the government seems to be scrounging for ever last nickley it's just stupid to overlook allowing and taxing a recreational activity that a good chunck of the population be happy to participate in, and not mind being taxed to do it.

  4. #34

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    I would have no problem with the development of an upscale gaming complex complete with shops and entertainment, but this particular model "Racino" as it is called seems kind of low rent to me. No table games but 4500 video slots?? Seems like a pretty seedy deal to me, characterized by a low operating costs/ high margin operation targeted to exploit the most income-vulnerable and habitually troubled gamblers. The quick buck approach, brought to you by your friends from NY State. Doesn't sit right with me.

    The way it is described, it seems like the airport at Vegas on steroids. Let's squeeze every last penny from them.

    I would expect greater cache from a NYC gaming project than this.
    Last edited by eddhead; May 11th, 2008 at 02:21 AM.

  5. #35

    Default

    I agree with you. But it's what they can do within the structure of the existing laws.

    This is what they did up in Yonkers. I went up to see that, walked in and walked back out.

    But let them do it. Maybe it'll be the crack in the dam that's needed to force the laws to change.

    Quote Originally Posted by eddhead View Post
    I would have no problem with the development of an upscale gaming complex complete with shops and entertainment, but this particular model "Racino" as it is called seems kind of low rent to me. No table games but 4500 video slots?? Seems like a pretty seedy deal to me, characterized by a low operating costs/ high margin operation targeted to exploit the most income-vulnerable and habitually troubled gamblers. The quick buck approach, brought to you by your friends from NY State. Doesn't sit right with me.

    The way it is described, it seems like the airport at Vegas on steroids. Let's squeeze every last penny from them.

    I would expect greater cache from a NYC gaming project than this.

  6. #36

    Default Don't get it

    Due to the stakes involved, table games are deemed to be more "dangerous" than slots. NYS has yet to get comfortable with the idea of table games. I think its kind of absurd because there are no limits on how many lottery tickets I can buy.

    To be fair, not that many states have gotten there yet on table games but more and more allow them each year. I would bet it is only a matter of time before NYS allows it and we end up with a big casino either out in long island or upstate somewhere.

  7. #37

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    The ironic part is that I would venture to guess slots are more dangerous than table games in that they seem to attract people who are more habitual and vulnerable from an income perspective.

    These video slot emporiums tend to be pretty seedy.

  8. #38

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    Table game tend to be a much better bet than machine games, especially stots. Most table games have pretty good odds, if you bet them correctly, they're also slower than machines.

    Actually, I only play live poker now. I look at the rest of the casino as subsidizing the operation of the poker room.

  9. #39

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    agreed on both counts. i am not a frequent visitor to casinos, but when I go I do the poker rooms exclusively.

  10. #40

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    A little bit of Vegas in Queens with proposed racino at Aqueduct

    BY KENNETH LOVETT
    DAILY NEWS ALBANY BUREAU CHIEF
    Monday, October 13th 2008, 9:37 PM

    Willens/AP
    Renderings of proposed racino that would accompany Aqueduct race track in Queens.


    Inside of racino that will have 4,500 slot machines and giant buffet key draws.

    ALBANY - Here's a first look at a proposed new Las Vegas-style video slot machine parlor at Aqueduct race track in Queens.

    The 330,000-square-foot "racino" will boast 4,500 video slot machines, says would-be developer Delaware North of Buffalo.

    Like Vegas, food will be a key draw, with a 25,000-square-foot buffet with seating for 600 people, plus a steakhouse and Italian and Asian restaurants.

    The facility, which is expected to draw 20,000 people a day and generate $1 million a day in revenue for the state, will also include a large food court, several bars and a stage for entertainment.

    And it will be accessible by car, bus and subway.

    Gov. Paterson and Assembly Speaker Sheldon Silver picked Delaware North's proposal over two other bidders last week.

    But Senate Majority Leader Dean Skelos has balked, saying that while Delaware North would provide more money upfront, the plan may not be as good in the long run.

    Unlike the other finalists, Capital Play and SL Green, Delaware North has not come up with plans for the site beyond the video slot machine parlor, Skelos noted.

    Delaware North officials said Monday that while the company submitted no additional plans, it intends to ultimately build a "world-class, four-star conference center and hotel facility."

    In June, the firm hired The Peebles Corp., said to be the country's largest African-American real estate development company specializing in urban redevelopment.

    Chairman and CEO Donahue Peebles said he is designing plans that would include a 3,000-seat theater for concerts and boxing. There would also be a 60,000-square-foot conference and meeting facility with a ballroom, a 5,000-square-foot spa and a 2,000-space garage.

    In addition, Peebles said, there would be 15,000 square feet of "boutique retail" along the entrance to the racino - with more once the hotel is built.

    "The idea is to take Aqueduct and make it a world-class destination attraction," he said.

    Delaware North and Peebles hope to meet with Skelos this week to outline their plans.

    Once the final approvals are in place, it should take 12 to 14 months to build the racino, said Delaware North Cos. Gaming & Entertainment President William Bissett.

    He said Delaware North and its partners have cash reserves and lines of credit that would let them pay the state $370 million upfront and build the $250 million racino, which will open first. The hotel, conference center and a possible regional shopping center would follow within five years, Bissett added.

    klovett@nydailynews.com

    http://www.nydailynews.com/news/2008..._with_pro.html

    Copyright 2008 NYDailyNews.com.

  11. #41

    Default Atlantic City

    Must be hating the rise of this racino and the video lottery terminals at Yonkers.

    I know the Shinnecock tribe out in Long Island has been trying to get a gaming license for years. It will be interesting to see if they ever get that done. That would be another big blow to AC (which is already struggling - but then again so are all gaming sites)

  12. #42
    Build the Tower Verre antinimby's Avatar
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    Need to have table games if they're really going to seriously divert some of those revenues from NJ and CT (and even Nevada) back into the city and NYS.

  13. #43
    Chief Antagonist Ninjahedge's Avatar
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    Yeah!

    Lets get everyone to spend money on Gambling! It has worked wonders in so many areas of the world where it is easily available! I can't see why we would not want to promote it more!

    It is such a productive pastime!

  14. #44

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    Casino Complex to Be Built at Aqueduct

    By JEREMY W. PETERS
    Published: October 23, 2008

    After seven years of political wrangling and delay, a deal to build a casino at the Aqueduct racetrack is now in place.

    Under a contract announced by the Paterson administration on Thursday, a Buffalo company will construct a complex featuring a 184,000-square-foot gambling floor and 4,500 video gambling terminals, multiple restaurants including one with a 600-seat buffet, at least 300 hotel rooms and a 60,000-square-foot conference center.

    The Buffalo company, Delaware North, said it planned to start construction in early 2009 and finish the casino, its adjoining restaurants and the parking structure in about a year. The project will be completed in phases within five years, it said.

    In its promotional material, Delaware North has boasted that the complex will be “all right in the heart of Queens,” a subway ride away on the A train. The track is in South Ozone Park just northwest of Kennedy Airport.

    For the casino itself, gamblers should think more arcade than Atlantic City. There will be no blackjack tables with dealers, or roulette wheels.

    Instead the casino will have video-screen terminals that will accept money for virtual hands of poker and other games.

    Delaware North operates a similar hybrid racetrack-casino — known as a racino — in Saratoga Springs. The company beat out two other bidders — the commercial real estate firm S L Green Realty, in partnership with Hard Rock Entertainment, and Capital Play, which had joined with Mohegan Sun.

    State officials said Delaware North prevailed because it was offering more money in advance: $370 million for its license to operate the casino and entertainment complex.

    “They offered the most money up front,” said John D. Sabini, chairman of the New York State Racing and Wagering Board. “And I think that’s important to the state because of the financial situation we’re in.”

    In addition to the up-front payment, the state expects to reap more than $10.3 billion in revenue from the gambling terminals over the next 30 years.

    Though the State Legislature has already trimmed more than $420 million in state spending this year, Gov. David A. Paterson said this month that the faltering economy had opened a new $1.2 billion hole in the budget.

    After the Aqueduct negotiations hit a snag two weeks ago when Senate Republicans said they wanted more time to review the plan, Mr. Paterson and fellow Democrats accused Republicans of dragging their heels and delaying the start of a project that would create about 1,000 construction jobs at a time when employers in New York are shedding workers.

    “This deal will provide a critical revenue stream — especially given the financial crisis that is battering our state and nation,” Mr. Paterson said in a statement,

    The push to build a casino at Aqueduct began in 2001, when in the weeks after the Sept. 11 attacks the Legislature began passing laws that would allow for a major expansion of the state’s gambling industry.

    In approving the deal, the state once again finds itself turning to gambling to strengthen its weakened cash flow. But with New Yorkers expected to spend less as the financial crisis expands, Delaware North’s president was asked on Thursday whether a casino could remain a steady source of state revenue during an economic downturn.

    “Clearly the gaming business is not a recession-proof business,” the president, William J. Bissett, told reporters in a room overlooking the neatly groomed racetrack at Aqueduct.

    “There is a large population that will have an easy means to get to this location to entertain themselves,” he said. “We take comfort that, even in a recession period, the fact that Aqueduct sits where it does in a huge metropolitan community buoys our confidence that we will be successful here.”

    The project is expected to create about 2,000 jobs in Queens. About half those jobs would be permanent jobs at the casino complex once it is fully operating, and the rest would be construction jobs.

    “The ultimate goal, of course, is not only to create revenue for the state but to create jobs,” said State Senator Serphin R. Maltese, a Republican from Queens. “So as far as economic development, I think you can put it in big letters: J-O-B-S.”

    Mr. Maltese, who is locked in a competitive re-election battle that may decide which party controls the Senate next year, objected to the Delaware North proposal two weeks ago after Mr. Paterson and the Democratic-led Assembly signed off on it.

    At the time, Mr. Maltese and other Senate Republicans said they were not convinced the plan included enough economic benefit for the Queens community. So the developers agreed to put more of their plans in writing, including the proposal for building the hotel and convention center and a community advisory board to inform Delaware North on their satisfaction with the development. In addition, the company agreed to open an office in the community that will make it more convenient for people to apply for a job.

    Jonathan Starkey contributed reporting.

    http://www.nytimes.com/2008/10/24/ny...on&oref=slogin

    Copyright 2008 The New York Times Company

  15. #45

    Default Man oh man

    video poker is such a drag....and the house odds are absurd. no doubt they will be making a ton of money at the Big A. I really hope they eventually allow at least poker games....

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